RealPage Rent-Fixing Lawsuit Update: Tenants May Recover 15-21% of Rent Paid Since 2016

In what could become one of the largest antitrust settlements in housing history, millions of American renters may be entitled to substantial compensation following allegations that property management software company RealPage facilitated a nationwide rent-fixing scheme.

The expanding legal battle now includes federal criminal investigations, state attorney general lawsuits, and mass arbitration claims that could result in significant payouts for affected tenants.

The Alleged Scheme: AI-Powered Price Coordination

At the heart of the controversy is RealPage’s algorithmic pricing software, particularly its YieldStar product (now called AI Revenue Management), which the U.S. Department of Justice alleges enabled landlords to coordinate rent increases across competing properties. According to the DOJ’s amended complaint, filed in January 2025, RealPage collected nonpublic, competitively sensitive rental data from competing landlords and used it to generate pricing recommendations that kept rents artificially high.

The lawsuit claims that instead of competing independently, landlords using RealPage’s software effectively shared pricing strategies, occupancy rates, and other sensitive data through the platform. “Americans should not have to pay more in rent because a company has found a new way to scheme with landlords to break the law”, Attorney General Merrick Garland stated in announcing the lawsuit.

Potential Compensation: Significant Recovery Estimates

According to Is That Legal, a legal analysis website specializing in class actions and mass torts, the potential compensation for affected renters is substantial. “Based on the claims made by Mason LLP, a law firm known for its experience in mass arbitration and class action lawsuits, current and past tenants who sign up and join the price-fixing antitrust lawsuit against RealPage and their property management company may potentially recover between 15-21% of their apartment rent paid since 2016 in a settlement”, the site reports.

Is That Legal explains the calculation methodology: “Mass arbitration firms such as Mason LLP base their settlement estimates on the alleged 5-7% overcharge implemented by multifamily landlords throughout the U.S. since 2016, based off of RealPage’s YieldStar software product, combined with the Sherman Anti-Trust Act’s provision for treble damages”. For the average renter, this could translate to approximately $5,184 in compensation before legal fees and costs.

Expanding Legal Action: Multiple Fronts

The legal assault on RealPage is intensifying on several fronts. In addition to the DOJ’s civil lawsuit, the company faces private class action suits that have been consolidated into multidistrict litigation in Tennessee. Most recently, The Register reported that the DOJ expanded its lawsuit to include six of the nation’s largest landlords: Greystar Real Estate Partners, LivCor, Camden Property Trust, Cushman & Wakefield/Pinnacle, and Willow Bridge.

State attorneys general are also taking action. California Attorney General Rob Bonta filed an amended complaint stating that “the companies artificially inflated rent prices and illegally maintained a minimum pricing floor against market trends”. Similar actions have been filed by attorneys general in North Carolina, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, Oregon, Tennessee, and Washington.

Direct Action vs. Class Action: A Strategic Shift

Is That Legal highlights an important development in litigation strategy: “Several mass arbitration law firms in 2024 are now pursuing direct action claims on behalf of apartment/condo renters against RealPage. They are taking a different approach to this lawsuit compared to the main class actions”.

The website explains the potential advantage: “By handling cases one-by-one, law firms such as Mason LLP hope to focus on the specific details of each renter’s situation. This could potentially lead to higher compensation payout for their clients compared to what they might get in the class action”.

First Settlement Sets Precedent

A significant breakthrough came in April 2025 when Cortland Management LLC, one of the largest property management companies, agreed to settle with the DOJ. According to North Carolina Attorney General Jeff Jackson, the settlement requires Cortland to stop using nonpublic data from other landlords to set rents, marking “one of the first settlements to restrict a major landlord from unlawfully using RealPage”.

Holland & Knight’s analysis notes that the settlement reveals the DOJ’s view that “it is likely anticompetitive for pricing software to either use nonpublic, competitively sensitive information in any way in connection with the generation of pricing recommendations or in the training of pricing algorithms”.

Who Can Join the Lawsuit?

According to Is That Legal, eligibility extends to anyone who “rented an apartment or single-family or multifamily property managed by one of the defendants or another company using RealPage’s revenue management service to set rental prices anytime since 2016”. The website lists over 35 major property management companies allegedly involved, including Alliance Residential, AvalonBay Communities, Equity Residential, and Greystar Real Estate Partners.

What’s Next for Renters?

As this multi-front legal battle continues to evolve, affected tenants have several options to pursue compensation. Top Class Actions reports that “numerous lawsuits have already been filed. These RealPage lawsuits aim to recover compensation for affected tenants who were illegally charged inflated rent prices”.

With the DOJ’s aggressive enforcement action, state attorneys general joining the fight, and the potential for substantial individual recoveries through mass arbitration, the RealPage case represents a watershed moment in antitrust enforcement in the digital age. For millions of renters who have struggled with rising housing costs, it may also represent a path to meaningful financial recovery.