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Greystar and other landlords agree to a $141M deal to settle a rent-setting lawsuit
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The Nashville Ledger
Greystar, the nation's largest landlord, would pay $50 million under the proposed settlement agreement, which was filed Wednesday in a Tennessee federal court.
The settlement funds from the class action lawsuit would be distributed among millions of tenants included in the settlement class.
RealPage software provides daily recommendations to help landlords and their employees price their available apartments.
It also says that its pricing recommendations often encourage landlords to drop rents since landlords are incentivized to maximize revenue and maintain high occupancy.
Among the other defendants, Iowa-based BH Management would pay $15 million, while Denver-based Simpson Property Group would pay $6.5 million.