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SettlementHigh RiskMultistate

CT AG Coalition's $7M Settlement with Greystar for Algorithmic Pricing

Greystar Management Services LLCNovember 19, 2025Connecticut Attorney General

Penalty Amount

$7,000,000

Summary

Connecticut Attorney General William Tong joined a bipartisan coalition of nine states in a $7 million settlement with Greystar Management Services LLC, the largest U.S. landlord, for anticompetitive algorithmic pricing practices. Greystar shared competitively sensitive data with competitors via RealPage's algorithms and discussed pricing strategies, leading to inflated rents. The consent decree prohibits such conduct, requires monitoring if using uncertified algorithms, and bars participation in RealPage competitor meetings.

Remedy

Greystar must pay $7 million to the states, refrain from using anticompetitive algorithms that incorporate competitor data or features, stop sharing competitively sensitive information, accept a court-appointed monitor if using a non-certified third-party pricing algorithm, avoid RealPage-hosted competitor meetings, and cooperate with the ongoing case against RealPage.

Monetary PenaltyInjunctionConsent DecreeAudit RequirementCompliance ProgramReporting Requirements

Contract Impact

In-house legal teams should review vendor agreements with third-party pricing algorithm providers (e.g., RealPage), internal compliance policies, and any agreements involving data sharing with competitors. Key clauses to scrutinize include data sharing provisions, algorithm usage and certification terms, pricing coordination restrictions, and clauses governing participation in industry meetings or competitor communications. Changes may be needed to explicitly prohibit sharing competitively sensitive data, require pre-approval or certification of pricing algorithms, implement audit and monitoring rights, and ban discussions of pricing strategies with competitors to align with the consent decree's requirements.

Contract Search Terms

algorithmic pricing clausedata sharing agreementpricing algorithm certificationcompetitor data exchangeprice coordination prohibitionmonitoring requirements for algorithmsconsent decree complianceRealPage algorithm usageuncertified algorithm restrictionspricing strategy discussions

Violation Types

Entity Details

Entity

Greystar Management Services LLC

Also known as: Greystar

Industry

Real Estate

Multistate Coalition

Official Sources

Source Evidence

Entity Name
"Greystar Management Services LLC"
Fine Amount
"$7 million settlement"
Violation Description
"shared competitively sensitive data to generate pricing recommendations using RealPage’s algorithms"
Violation Description
"discussed competitively sensitive topics—including pricing strategies, rents, and selected parameters for RealPage’s software—directly with each other"

Related Enforcement Actions

CA

Greystar Management Services LLC

$7.0M

California Attorney General Rob Bonta announced a $7 million settlement with Greystar Management Services LLC for using RealPage's algorithmic software to illegally align rent prices with competitors by sharing confidential pricing information, violating antitrust laws. Greystar must cease using such anticompetitive algorithms, refrain from data sharing, accept monitoring, and cooperate in the ongoing case against RealPage.

CT

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CT

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