PORTLAND, Ore. (KOIN) — After reaching a non-monetary settlement with the U.S. Department of Justice in August, Oregon Attorney General Dan Rayfield announced that a bipartisan coalition has filed a proposed $7 million settlement with Greystar Management Services LLC, the largest landlord in the United States, over a rental price fixing scheme.
Greystar manages numerous apartment complexes around Portland and in cities across the country.
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According to the complaint, Greystar, as well as other large landlords, shared information and used RealPage’s pricing algorithm to increase rents, as opposed to competing independently.
The complaint also alleged that Greystar discussed pricing strategies with others, reducing competition and making rents higher than they would have been…