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Comment on Algorithmic rent-setting under scrutiny by Erin Ruddy
['Erin Ruddy']
Comments for REMINET
The scrutiny around algorithmic rent-setting here in Canada coincides with similar activity in the U.S., where nine states and the U.S. Department of Justice recently filed a lawsuit against RealPage Inc., the Texas-based company responsible for YieldStar.
“There will likely be more tolerance in the U.S. for the use of AI and algorithms in pricing rent than here in Canada,” he said.
“I can confirm that the Bureau’s investigation into algorithmic pricing in the Canadian real estate rental market is ongoing.
The polarizing benefits of AIThe controversy surrounding Artificial Intelligence—and rent-setting algorithms in particular—highlights the growing intersection between technology and real estate.
If passed, the bill wouldn’t stop the class-action suits against RealPage for antitrust and consumer-protection violations; however, it would offer RealPage legal relief by halting efforts to ban algorithmic pricing systems for the next decade.
['rentsetting'
'competition'
'property'
'canada'
'pricing'
'algorithmic'
'rent'
'using'
'bureau'
'scrutiny'
'landlords']