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I think the issue is with RealPage, they all use it's algorithm for automatic pricing adjustment. It's not the hiring of a company, it's the collusion of the co
by ganoushoreilly 2y ago
I think the issue is with RealPage, they all use it's algorithm for automatic pricing adjustment. It's not the hiring of a company, it's the collusion of the company to artificially inflate and manipulate pricing across multiple locations, under the auspice of "increasing rents and owners value".
You absolutely can "share cost" publicly, but colluding on pricing is where it get's questionable.
The platform itself by itself to analyze pricing isn't a problem, where I think the problem arises is when the contract for you to use the platform tie you and your properties pricing to the platforms suggestion. Thus making the platform the deciding factor.
It's dicey and will be an interesting read. Rentals are an interesting industry as is, many will sit 80% full rather than 100% because of platforms like this that can squeeze more out of them. I've rented from apartments that use this platform and it's wild. Every renewal was either same or cheaper rent for moving across the hall vs staying for a 20% increase in the same apartment. It's designed to squeeze and put pressure on you. Shady.