The DOJ is looking into the possibility that RealPage is facilitating price-fixing among some of the large residential property owners and management firms that use the company’s product, according to the people, who were granted anonymity to discuss a confidential matter.
A handful of property management companies own all the new apartment buildings in my city, so I’m all for this.
It’s not a property management company though. It’s much worse than that. It’s a software that several different property managers are using to determine rates, and the algorithm tells them what to charge. An algorithm that’s intended to maximize profits.
large residential property owners
These should not exist. A corporation should be allowed to rent out one residential dwelling or, at most, an apartment building.
Have you heard of Delaware corporations? You’re right, but for 250 dollars you, too could open up a shell company to hold your assets!
While we’re implementing my pipe dream of reforming the nation’s property laws, we can reform its incorporation laws too.
They’ll find it is being fixed. They’ll be shocked. They’ll write a thorough and damning report. Then do jack shit about it.
