The U.S. Department of Justice and ten states filed an amended complaint against six major landlords for using algorithmic pricing and sharing competitively sensitive information to suppress competition and raise rents. Cortland Management LLC agreed to a consent decree requiring it to cease these practices, cooperate with the investigation, and submit to court-monitored oversight. The landlords collectively manage over 1.3 million rental units across the United States.
Cortland must cooperate with the government investigation, stop using competitors' competitively sensitive data to train or run pricing models, halt use of third-party pricing algorithms without a court-appointed monitor, and refrain from soliciting, disclosing, or using such information with other property managers for rent setting.
In-house legal teams should review vendor agreements with property management firms and software providers (e.g., pricing algorithm vendors like RealPage), as well as any data-sharing or joint venture agreements between landlords. Focus on clauses governing data sharing, algorithmic pricing mechanisms, antitrust representations, audit rights, and termination for illegal practices. Given the consent decree with Cortland, contracts may need amendments to prohibit the use of shared pricing algorithms, require independent rent determination, include obligations to cooperate with government investigations, and establish monitoring/oversight provisions. Ensure contracts contain clear indemnification for antitrust violations and require certifications of compliance with competition laws.
Entity
Greystar Real Estate Partners LLC, Blackstone's LivCor LLC, Camden Property Trust, Cushman & Wakefield Inc, Pinnacle Property Management Services LLC, Willow Bridge Property Company LLC, Cortland Management LLC
Also known as: Greystar, LivCor, Camden, Cushman & Wakefield, Pinnacle Property Management, Willow Bridge, Cortland
Industry
Real EstateOfficial Press Release
https://portal.ct.gov/ag/press-releases/2025-press-releases/states-and-justice-department-sue-six-large-landlords-for-algorithmic-pricing-scheme
20250107 amended complaint.pdf?rev=648f7caf042a45b381fc3fb57
https://portal.ct.gov/-/media/ag/press_releases/2024/20250107---amended-complaint.pdf?rev=648f7caf042a45b381fc3fb57af195e8&hash=1098055605770D6018F5EF5F275B715D
Connecticut Attorney General Enforcement Page
https://portal.ct.gov/AG/Privacy/Privacy-Resources
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