DOJ proposes RealPage settlement on rent algorithm

The U.S. Department of Justice proposed a settlement with RealPage, the rent-pricing software firm at the center of an antitrust case, that would bar the company from using real-time, nonpublic data, training models on leases less than 12 months old, or surveying landlords for private pricing information. RealPage would also cooperate in DOJ's ongoing lawsuit against major landlords — including four that operate in the Twin Cities — accused of using the software and shared data to inflate rents; Minneapolis previously passed an ordinance banning algorithmic rent price-fixing.