- Greystar will no longer use rent-pricing software that relies on competitor or nonpublic data. It will also stop sharing rental data with rivals.
- If approved, Greystar must comply within 180 days or by April 1, 2026, whichever comes first.
- Greystar is the second major landlord to settle in the RealPage case. The suit claims rent-setting algorithms inflated rents for more than a million US apartments.
Greystar, the nation’s largest apartment operator with over 900,000 units, reached a deal with the Department of Justice to end an antitrust case tied to RealPage’s rent-setting software. Bisnow says that if a North Carolina federal court approves, Greystar will stop using pricing tools that rely on nonpublic competitor data.
A Broader Crackdown
Greystar is the second multifamily landlord to settle. Cortland was the first. The DOJ case, launched in the prior administration and continued under President Donald Trump, targets RealPage and large apartment owners. The government claims they used AI Revenue Management, once called YieldStar, to coordinate rents.
The Details
- Restrictions: Greystar will avoid RealPage events, stop sharing rental data, and not use unapproved rent-setting tools.
- Oversight: If it tries a new third-party pricing tool, a court monitor will review the results.
- Other Settlements: Greystar also settled a renter class action over alleged rent-fixing. The terms remain private.
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Political and Market Stakes
Attorney General Pam Bondi called the deal a win for renters and free-market competition. She tied it to housing affordability, a top national concern. RealPage rejects the claims and calls them false.
Legislative Pushback
States are moving to limit rent-setting software. Connecticut banned these tools earlier this year. In 2025, 22 states introduced more than 40 related bills, according to the Private Equity Stakeholder Project.
Why It Matters
A 2023 White House report estimated rent-setting software cost tenants $3.8B in extra rent in one year. The Greystar settlement shows growing legal and political pressure on landlords and property tech companies.
