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> For example, rent control and affordable housing mandates that require a certain % of units to be rented at below market rates. The issue that we have here
by 0x457 2y ago
> For example, rent control and affordable housing mandates that require a certain % of units to be rented at below market rates.
The issue that we have here - market rates controlled by RealPage. Since everyone uses RealPage, in terms of price for renters it's essentially the same as if every building was owned by the same company.
I'm appalled how long it took for this lawsuit to be filed. We knew about this price fixing for quite some time.
- Manuel_D 2y agoApparently, RealPage only serves 10% of the rental market in San Francisco: https://jacobin.com/2024/08/realpage-software-housing-landlords https://jacobin.com/2024/08/realpage-software-housing-landlo... > The company has reported that it provides these services to 10 percent of the rental market in San Francisco. RealPage doesn't have nearly enough market share to engage in price-fixing. If it tried, its units would stay vacant as other renters flock to the 90% of units that aren't using RealPage.
- medvezhenok 2y agoSure, but what matters is what percentage of the apartments with vacancies RealPage controls. Many apartments don't turn over year-to-year, so that 10 percent might or might not be misleading.
- 0x457 2y agoYeah, aside from privately owned properties (comes with its own set of issues), every company managed property I've rented was priced by RealPage. I know it's a very anecdotal and non-scientific.