Kentucky Attorney General Russell Coleman is suing real estate software company RealPage over allegations of corporate price fixing.
The federal lawsuit, filed in the Eastern District of Kentucky, accuses RealPage of distorting competition in the rental market by collecting private information — rental costs, lease terms and future apartment availability — and providing pricing recommendations to competing landlords. The lawsuit also names ten out-of-state landlords who control rental properties in Kentucky, particularly in Louisville and Lexington.
In the lawsuit, Coleman said 80% of the rental market in the U.S. is controlled by RealPage through the use of its commercial revenue management software. He argued that RealPage, and the landlords that use its software, are directly responsible for increasing rent…