New Jersey Attorney General Matthew Platkin filed a federal antitrust lawsuit Wednesday against software firm RealPage and 10 of the state’s largest landlords, accusing them of colluding to inflate rent prices across NJ.
The suit alleges that the defendants violated state and federal antitrust and consumer protection laws by using RealPage’s pricing software to coordinate rents, exchanging non-public data and suppressing competition.
“The defendants in this case unlawfully lined their pockets at the expense of New Jersey renters,” Platkin said in a statement. “Today we’re holding them accountable for unlawful conduct that fueled the state’s affordable housing crisis and deprived New Jerseyans of their fundamental right to shelter.”
The complaint, which was filed in U.S. District Court in NJ, names Morgan Properties, AvalonBay, LeFrak, Greystar and other major landlords, claiming they participated in a cartel-like scheme to drive rents above competitive levels. The practice allegedly impacted tens of thousands of units statewide.
Officials said RealPage’s software uses proprietary data from participating landlords to generate “supracompetitive” prices, limiting price drops and enforcing compliance through tools like secret shoppers and pricing audits.
Jeremy Hollander, acting director of the Division of Consumer Affairs, called the case “corporate greed at its worst.”
The state is seeking an injunction, civil penalties, restitution, and the appointment of a corporate monitor. The investigation remains ongoing, and more defendants could be added.
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.