Attorney General Tong Announces Settlement with Landlord Over Algorithmic Pricing Scheme

Press Releases

11/19/2025

Attorney General Tong Announces $7 Million Settlement with Largest U.S. Landlord Over Algorithmic Pricing Scheme

(Hartford, CT) — Attorney General William Tong right now joined a bipartisan coalition of 9 states in submitting a proposed $7 million settlement to resolve claims in opposition to Greystar Management Services LLC as a part of the coalition’s ongoing enforcement in opposition to algorithmic coordination and different anticompetitive practices in rental markets throughout the nation. Greystar reached a non-monetary settlement with the United States Department of Justice this August.

“When the largest landlord in the entire United States rigs the market with unfair and anticompetitive algorithms, it jacks up costs for everyone, everywhere. Today’s settlement begins to restore fairness to this broken system. We’re continuing to press our case against RealPage and other bad actors in the industry, and we will use the full weight of our law enforcement authority to give families a fair chance at an affordable home,” stated Attorney General Tong.

Greystar, the biggest landlord within the United States, manages practically 950,000 rental items nationwide. As alleged within the criticism, Greystar and different landlords, together with 5 co-defendants, shared competitively delicate information to generate pricing suggestions utilizing RealPage’s algorithms. Greystar and different landlords additionally mentioned competitively delicate subjects—together with pricing methods, rents, and chosen parameters for RealPage’s software program—instantly with one another.

In addition to the financial cost to the states, the proposed consent decree, if authorised by the court docket, would require Greystar to:

• Refrain from utilizing any anticompetitive algorithm that generates pricing suggestions utilizing its rivals’ competitively delicate information or that comes with sure anticompetitive options;
• Refrain from sharing competitively delicate info with rivals;
• Accept a court-appointed monitor if it makes use of a third-party pricing algorithm that’s not licensed pursuant to the phrases of the consent decree;
• Refrain from attending or taking part in RealPage-hosted conferences of competing landlords; and
• Cooperate with the coalition’s claims in opposition to RealPage.

The case in opposition to RealPage and the remaining 5 landlords, Blackstone’s LivCor LLC; Camden Property Trust; Cushman & Wakefield Inc and Pinnacle Property Management Services; Willow Bridge Property Company LLC, and Cortland Management LLC is ongoing.

Joining Attorney General Tong in reaching this settlement had been the attorneys normal of North Carolina, California, Colorado, Illinois, Massachusetts, Minnesota, Oregon, and Tennessee.

Assistant Attorney General Julián Quiñones and Deputy Associate Attorney General/Chief of the Antitrust Section Nicole Demers assisted Attorney General Tong on this matter.

Twitter: @AGWilliamTong

Facebook: CT Attorney General

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