The U.S. Department of Justice's Antitrust Division has filed a proposed settlement to resolve claims against Greystar Management Services LLC, the largest landlord in the United States, which manages nearly 950,000 rental units nationwide. The allegations involve Greystar and other landlords sharing sensitive data to create pricing recommendations through RealPage's algorithms, which included rules that aligned competitors' pricing.

According to the complaint, Greystar and its co-defendants engaged in discussions about sensitive topics such as pricing strategies and rents, directly impacting competition in the rental market. Attorney General Pamela Bondi emphasized the importance of free-market competition in making housing affordable, while Assistant Attorney General Abigail Slater reiterated the commitment to preventing competitors from sharing sensitive information or coordinating prices.

If the court approves the proposed consent decree, Greystar will be required to stop using any anticompetitive algorithms that utilize competitors' data, refrain from sharing sensitive information, and accept a court-appointed monitor for third-party pricing algorithms. Additionally, Greystar must avoid participating in meetings hosted by RealPage with competing landlords and cooperate with ongoing monopolization claims against RealPage.

The proposed settlement will be published in the Federal Register as mandated by the Tunney Act, allowing for public comments within 60 days. Following this period, the U.S. District Court for the Middle District of North Carolina may finalize the judgment if deemed in the public interest.