Justice Department and Greystar Announce Proposed Settlement Over Algorithmic Pricing Practices

Key Takeaways

Greystar has proposed a settlement with the DOJ over antitrust violations involving RealPage’s revenue management software.
The settlement includes measures to prevent sharing sensitive information and using anticompetitive algorithms.
Greystar maintains its compliance with the law and plans to defend against any regulatory claims.

Settlement Proposal for Greystar

Greystar, a leading apartment owner and manager in the U.S., has reached a proposed settlement with the Justice Department’s Antitrust Division concerning allegations of anticompetitive practices involving RealPage’s revenue management software. The DOJ’s complaint claims that Greystar and other landlords shared sensitive pricing data with RealPage to manipulate rent prices and engaged in direct discussions that compromised competition.

Assistant Attorney General Abigail Slater emphasized the illegality of price alignment and sharing sensitive information among competitors, stating, “Competitors cannot share competitively sensitive information or align prices to the detriment of American consumers.”

Greystar, based in Charleston, South Carolina, controls more than 120,000 owned units and manages nearly 950,000, as per the National Multifamily Housing Council’s 2025 listings. The company is also a key player in apartment development and construction in the country.

If the settlement is approved, it will put several restrictions on Greystar, including:

– Prohibiting the use of any pricing programs based on nonpublic data from competitors or incorporating anticompetitive features.
– Banning the sharing of sensitive information with competitors.
– Subjecting the use of third-party pricing algorithms to oversight by a court-appointed monitor.
– Preventing attendance at meetings of competing landlords hosted by RealPage, with mandatory reporting of any meeting details to U.S. authorities.
– Cooperation with ongoing U.S. monopolization claims against RealPage.

These measures will become effective on April 1, 2026, or 180 days after the final judgment is delivered, whichever comes first.

In its announcement, Greystar expressed confidence that its use of RealPage’s software complies with the law and aims for the settlement to clarify regulatory guidelines regarding revenue management tools. The company’s statement indicated a commitment to navigating the changing legal landscape while providing tailored services and leveraging technology effectively.

Greystar also asserted its intention to contest any regulatory claims while clarifying that the settlement does not imply any admission of wrongdoing. RealPage has refrained from commenting on the settlement details.

The DOJ has announced that the proposed settlement and a competitive impact statement will be published in the Federal Register, allowing for a 60-day public comment period. Following this, the U.S. District Court for the Middle District of North Carolina will deliver its final judgment regarding the proposal.

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