{"id":174475,"date":"2024-06-24T14:26:10","date_gmt":"2024-06-24T20:26:10","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=174475"},"modified":"2024-08-12T02:55:38","modified_gmt":"2024-08-12T08:55:38","slug":"realpage-being-investigated-by-the-doj-puts-landlords-on-alert","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/realpage-being-investigated-by-the-doj-puts-landlords-on-alert","title":{"rendered":"&#8220;Housing Cartel&#8221; Investigated by the DOJ Puts Landlords on Alert"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC1409836154\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">A housing cartel? No, not in a lawless narco-state, but in major American cities, where corporate landlords have <\/span><span data-preserver-spaces=\"true\">been accused<\/span><span data-preserver-spaces=\"true\"> of conspiring with Texas-based real estate software company RealPage to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/us-news\/law\/apartment-rent-fixing-drawing-nationwide-legal-scrutiny-8b2867ab\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">drive up rents<\/span><\/a><span data-preserver-spaces=\"true\">.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Most recently, Atlanta-based Cortland Management, one of America&#8217;s largest landlords, <\/span><span data-preserver-spaces=\"true\">was <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/finance.yahoo.com\/news\/fbi-searches-headquarters-one-americas-193013057.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">served a warrant by the FBI<\/span><\/a><span data-preserver-spaces=\"true\"> concerning an<\/span><span data-preserver-spaces=\"true\"> ongoing antitrust investigation into <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/guides\/buying-multifamily\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">multifamily<\/span><\/a><span data-preserver-spaces=\"true\"> housing price-fixing <\/span><span data-preserver-spaces=\"true\">by the Department of Justice (DOJ)<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\"> According to Cortland Management&#8217;s website, the company is worth $218 billion and manages 85,000 units in 13 states.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">RealPage has launched a robust defense, with much of its <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.realpagepublicpolicy.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">website<\/span><\/a><span data-preserver-spaces=\"true\"> dedicated to debunking the accusations of price-fixing. It claims that, in many cases, it recommends lowering housing prices instead of raising them.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">RealPage&#8217;s Reach<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">RealPage states that it serves over<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.realpage.com\/company\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> 24 million units worldwide<\/span><\/a><span data-preserver-spaces=\"true\"> from offices in North America, Europe, and Asia (including<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/us-news\/law\/apartment-rent-fixing-drawing-nationwide-legal-scrutiny-8b2867ab\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> 4.5 million<\/span><\/a><span data-preserver-spaces=\"true\"> rental apartments in the U.S.)<\/span><span data-preserver-spaces=\"true\">, using<\/span><span data-preserver-spaces=\"true\"> algorithmic pricing to gauge the rents for each property <\/span><span data-preserver-spaces=\"true\">they serve<\/span><span data-preserver-spaces=\"true\"> in conjunction with the recommendations of <\/span><span data-preserver-spaces=\"true\">their management company-clients. It is that aspect of their business the<\/span><span data-preserver-spaces=\"true\"> FBI is mainly concerned with.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Private equity firm <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/articles\/thoma-bravo-agrees-to-buy-realpage-for-9-6-billion-11608526860?mod=article_inline\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Thoma Bravo purchased RealPage<\/span><\/a><span data-preserver-spaces=\"true\"> in 2021 for nearly $10 billion, and shortly afterward, complaints about the company started. Renters stretching from Seattle to New Jersey brought <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/us-news\/law\/apartment-rent-fixing-drawing-nationwide-legal-scrutiny-8b2867ab\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">two dozen class-action lawsuits<\/span><\/a><span data-preserver-spaces=\"true\"> shortly after the company was acquired.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Tenants claim that RealPage&#8217;s alleged monopoly over the U.S. housing market has put them in a &#8220;house always wins&#8221; situation, where rents escalate no matter how they turn. Should they choose to renew their lease, their rents will increase according to RealPage&#8217;s new number. Should they move, their rent will escalate as other property management companies use RealPage to hike up rents aggressively.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Initial tenant complaints <\/span><span data-preserver-spaces=\"true\">were consolidated<\/span><span data-preserver-spaces=\"true\"> into one case heard in the Federal District Court in Nashville. <\/span><span data-preserver-spaces=\"true\">That case gained the attention of the DOJ and<\/span><span data-preserver-spaces=\"true\"> initiated the current antitrust investigation.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">A Potentially Seismic Fallout<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Cortland Management oversees properties in multiple states, including Arizona. State Attorney General Kris Mayes <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/finance.yahoo.com\/news\/fbi-searches-headquarters-one-americas-193013057.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">recently spoke<\/span><\/a><span data-preserver-spaces=\"true\"> about the case, saying: &#8220;The conspiracy allegedly engaged in by RealPage and these landlords has harmed Arizonans and directly contributed to Arizona&#8217;s affordable housing crisis. This conspiracy stifled fair competition and <\/span><span data-preserver-spaces=\"true\">essentially<\/span><span data-preserver-spaces=\"true\"> established a rental monopoly in our state&#8217;s two largest metro areas.&#8221;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">ProPublica.org, a website that aims to expose &#8220;abuses of power and betrayals of the public trust by government, business, and other institutions,&#8221; recently conducted<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.propublica.org\/article\/senators-introduce-legislation-stop-landlords-algorithm-price-fixing\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> its <\/span><span data-preserver-spaces=\"true\">own<\/span><span data-preserver-spaces=\"true\"> investigation<\/span><\/a><span data-preserver-spaces=\"true\"> into RealPage, concluding that the software giant had indeed used its algorithms to aggressively and artificially inflate rents. Should the DOJ agree, the result could be a seismic case against some of America&#8217;s largest multifamily landlords. And as many of these rental units are bundled into <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-are-reits\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">REITs<\/span><\/a><span data-preserver-spaces=\"true\"> and traded on Wall Street, the resultant lawsuit could spiral into the billions.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The Political Angle<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">With housing and the cost of living hot topics of the next election, the Biden administration has made rent gauging and price hikes a central theme of its affordable housing policy. In his most recent State of the Union address, the president said, &#8220;We&#8217;re cracking down on big landlords who break antitrust laws by price-fixing and driving up rents.&#8221;&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">In <\/span><span data-preserver-spaces=\"true\">the U.S. Senate<\/span><span data-preserver-spaces=\"true\">, Senators Peter Welch (D-Vt.) and Ron Wyden (D-Ore.) introduced the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.congress.gov\/bill\/118th-congress\/senate-bill\/3692\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Preventing the Algorithmic Facilitation of Rental Housing Cartels Act<\/span><\/a><span data-preserver-spaces=\"true\"> in <\/span><span data-preserver-spaces=\"true\">January<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">&#8220;Setting prices with an algorithm is no different from doing it over cigars and whiskey in a private club,&#8221; Wyden said in a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.welch.senate.gov\/welch-and-wyden-introduce-legislation-to-crack-down-on-companies-that-inflate-rents-with-price-fixing-algorithms\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">press release<\/span><\/a><span data-preserver-spaces=\"true\">. &#8220;Although it&#8217;s my view that these cartels are already violating existing antitrust laws, I want the law to be painfully clear that algorithmic price fixing of rents is a crime.&#8221;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">RealPage Isn&#8217;t Alone<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">RealPage is not <\/span><span data-preserver-spaces=\"true\">being singled out<\/span><span data-preserver-spaces=\"true\"> for potential punishment. <\/span><span data-preserver-spaces=\"true\">Its<\/span><span data-preserver-spaces=\"true\"> software competitor, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.multifamilydive.com\/news\/FTC-DOJ-Yardi-collusion-price-fixing-lawsuit\/709781\/#:~:text=In%20the%20case,%20a%20plaintiff,to%20artificially%20inflate%E2%80%9D%20apartment%20rents.\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Yardi Systems<\/span><\/a><span data-preserver-spaces=\"true\">, <\/span><span data-preserver-spaces=\"true\">is also a target of the DOJ<\/span><span data-preserver-spaces=\"true\"> for similar allegations.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Going up against the DOJ is widely believed to be futile because of the government&#8217;s limitless resources, so most companies eventually choose to settle, which <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.multifamilydive.com\/news\/algorithmic-software-antitrust-price-fixing-rents\/707024\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">has already happened<\/span><\/a><span data-preserver-spaces=\"true\"> in some of the earlier RealPage cases filed in Nashville. Denver-based Apartment Income REIT, more commonly known as AIR, and Dallas-based Pinnacle Property Management Services, owned by real estate services firm Cushman &amp; Wakefield, admitted no wrongdoing in <\/span><span data-preserver-spaces=\"true\">choosing to end<\/span><span data-preserver-spaces=\"true\"> their suits early.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">&#8220;AIR&#8217;s pricing decisions were, and continue to be, made by AIR teammates using internal information together with publicly available market data,&#8221; AIR said in a statement. &#8220;Despite the baselessness of the claims, AIR is pleased to exit the litigation early in a favorable manner.&#8221;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">A History of DOJ Intervention<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">The DOJ&#8217;s quest for greater competition in the housing market isn&#8217;t new. It has a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.justice.gov\/atr\/antitrust-case-filings?f%5B0%5D=cases_index_list_industry_code:6806&amp;page=0\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">long history<\/span><\/a><span data-preserver-spaces=\"true\"> of such cases dating back decades. Recently, the agency has been on a winning streak, playing a pivotal role in the antitrust class-action suits filed against the largest brokers in the country and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-the-nar-settlement-means-for-real-estate-investors\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">the National Association of Realtors (NAR)<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">&#8220;We&#8217;ve been in their crosshairs for as long as I&#8217;ve been involved at the National Association of Realtors,&#8221; NAR president Kevin Sears, a licensed Realtor for 20-plus years, told hundreds in the industry at a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.youtube.com\/watch?v=iGim6Pq4PnY\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">conference<\/span><\/a><span data-preserver-spaces=\"true\"> in February.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Even though the DOJ wasn&#8217;t a party in the suit, according to news and analysis company <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.axios.com\/2024\/03\/21\/doj-nar-settlement-home-buying\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Axios<\/span><\/a><span data-preserver-spaces=\"true\">, the government agency has been investigating the real estate industry for years. In 2021, under a new administration, the agency filed to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.justice.gov\/opa\/pr\/justice-department-withdraws-settlement-national-association-realtors\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">stop<\/span><\/a><span data-preserver-spaces=\"true\"> a previous settlement that would have stopped it going after the NAR. In February, the department <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.reuters.com\/legal\/government\/justice-department-says-settlement-too-lax-real-estate-commission-case-2024-02-16\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">filed an objection<\/span><\/a><span data-preserver-spaces=\"true\"> to a different settlement in a case over commissions in Massachusetts, which mirrored the larger case against the NAR, resulting in a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nytimes.com\/2024\/04\/23\/realestate\/nar-settlement-realtors-commission.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">$418 million settlement<\/span><\/a><span data-preserver-spaces=\"true\">.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">The U.S. government rarely loses a lawsuit, with most defendants settling long before cases go to court, as has already been the case in earlier suits against RealPage affiliates. Many of their current clients are bracing themselves for the fallout. RealPage&#8217;s assurances that their software complies with federal law will not likely stem the flow of developers peeling away from doing business with them.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">&#8220;We are certainly advising clients to <\/span><span data-preserver-spaces=\"true\">be prepared<\/span><span data-preserver-spaces=\"true\"> for a world without RealPage-style revenue management,&#8221; Parker Miller, an antitrust attorney representing corporate clients at the Alston &amp; Bird law firm, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/us-news\/law\/apartment-rent-fixing-drawing-nationwide-legal-scrutiny-8b2867ab\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">told the <\/span><\/a><em><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/us-news\/law\/apartment-rent-fixing-drawing-nationwide-legal-scrutiny-8b2867ab\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Wall Street Journal<\/span><\/a><\/em><span data-preserver-spaces=\"true\">.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Widening the lens, when a company sells for $10 billion, as with RealPage, there is a tremendous onus on the company to increase revenue to justify the investment. Whether that pressure resulted in RealPage crossing a legal line and colluding with landlords to the detriment of their tenants, as the DOJ claims, is yet to be entirely determined. <\/span><span data-preserver-spaces=\"true\">What <\/span><span data-preserver-spaces=\"true\">is not<\/span><span data-preserver-spaces=\"true\"> up for debate is the bad publicity, legal expenses of multiple court cases, and a DOJ investigation.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Many <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-is-a-landlord\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">landlords<\/span><\/a><span data-preserver-spaces=\"true\"> have likely been blindsided by the case against a software company used throughout the country. The investigation is underlined by the nationwide housing shortage, increased homelessness, and people living from paycheck to paycheck. The need for affordable housing cannot be underestimated. Landlords who are able to fill this void\u2014whether working with government agencies or independently\u2014will likely be in demand for years to come.<\/span><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_33b5922a2400ad189e076a7b58de1805\" class=\"visibility-group alignwide  hidden\">\n        \n\n<div id=\"hero-block_3b80c2fcbe39e5a257b57d944789b158\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size wp-block-paragraph\" style=\"font-style:normal;font-weight:800\">Find the Right Agent, Close the Best Deal<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color wp-block-paragraph\" style=\"font-size:18px\">Step #1: Use Agent Finder to match with top <em><strong>investor-friendly<\/strong><\/em> real estate agents to help you find, analyze, and close your next deal.<\/p>\n\n\n\n<div id=button-custom-event-block_83dd37faf0f9633e44dfe1d5c081b75b class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/agent\/match\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Agent Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/realpage-being-investigated-by-the-doj-puts-landlords-on-alert&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Find an Agent<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/08\/Marketplace-Blog-Blocks-Agent-v3.png\" alt=\"investor friendly real estate agent\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color has-theme-slate-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<h3 class=\"wp-block-heading my-0 tracking-tight font-extrabold has-theme-slate-dark-color has-text-color has-large-font-size\">Join the community<\/h3>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color wp-block-paragraph\" style=\"font-size:16px;font-style:normal;font-weight:400\">Ready to succeed in real estate investing? Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/signup\" x-on:click=\"window.analytics.track(&#039;Blog Block | Acquisition | Free Membership Signup&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/realpage-being-investigated-by-the-doj-puts-landlords-on-alert&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>RealPage has been accused of price fixing in Atlanta, bringing the DOJ into housing affairs.<\/p>\n","protected":false},"author":613725,"featured_media":174477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7384,7119],"tags":[],"class_list":["post-174475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics-policy","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/174475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613725"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=174475"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/174475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/174477"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=174475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=174475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=174475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}