The article directly contests this idea though: > In one downtown Seattle ZIP code, 70% of more than 9,000 apartments were controlled by just 10 property manag

The article directly contests this idea though: > In one downtown Seattle ZIP code, 70% of more than 9,000 apartments were controlled by just 10 property managers — every one of which used RealPage’s pricing software in at least some of its buildings. This seems true in a lot of hot rental markets - there actually aren't that many landlords. In my midsized city only 4-5 institutional landlords control most of the available units in the median price bracket (and that's for residential, commercial is even worse with just two large landlords controlling a majority of lower end small units). And then when they use Realpage they are all effectively pricing together, so it creates a near-monopoly that greatly curtails downward pressure on prices.