Algorithmic Pricing In Rental Markets: Greystar Settlement And Commitment Measures

Introduction

This article concerns the proposed settlement reached between the U.S. Department of Justice's Antitrust Division (“DoJ”) and Greystar Management Services LLC (“Greystar”) regarding alleged anticompetitive coordination in the multifamily rental housing market using RealPage's revenue management software. According to the DoJ's complaint, Greystar and other large property managers exchanged competitively sensitive information via the software and related communications, which allegedly reduced independent pricing decisions. The proposed Final Judgment, agreed without admission of liability, imposes a series of behavioural commitments and compliance measures aimed at preventing similar conduct and mitigating potential competitive harm. These commitments address both the technical configuration of revenue management tools and the flow of competitively sensitive information between market participants.