CALIFORNIA – California Attorney General Rob Bonta, joined by eight other attorneys general, announced a $7 million settlement with Greystar Management Services LLC, one of the property management firms accused in his ongoing antitrust lawsuit against RealPage.

Under the settlement, Greystar must stop using any software—including RealPage’s, that relies on competitively sensitive data to align or coordinate rent prices.

In California, Greystar manages about 333 multifamily properties that rely on RealPage’s pricing software. The settlement comes as the state continues to face a decades-long gap between housing production and demand.

The company also agreed to cooperate in the ongoing prosecution of RealPage and the other landlord defendants. 

Bonta alleges Greystar used RealPage’s revenue-management software to align rents with competing landlords by unlawfully sharing and collecting confidential pricing data.

700,000 Californians at risk of eviction

California’s 17 million renters spend a significant portion of their paychecks on rent, with an estimated 700,000 Californians at risk of eviction, according to Bonta.

The settlement, which requires court approval, directs Greystar to pay $7 million in penalties and fees to the states and to:

• Refrain from using any anticompetitive algorithm that generates pricing recommendations based on competitors’ sensitive data or includes other anticompetitive features
• Refrain from sharing competitors’ sensitive information
• Accept a court-appointed monitor if it uses any third-party pricing algorithm not certified under the consent decree
• Refrain from attending or participating in RealPage-hosted meetings with competing landlords
• Cooperate with the states’ antitrust claims against RealPage.

Ongoing lawsuit

Bonta is part of an ongoing lawsuit against RealPage and major property managers—including Camden, Pinnacle, LivCor, Willow Bridge, and Greystar.

The case targets an unlawful pricing scheme that raised rents and limited competition.

The scheme affected rental housing nationwide, particularly multifamily buildings across Southern California.

Antitrust reporting form

Bonta says antitrust enforcement protects consumers by ensuring fair prices, product choice, and innovation.

As part of this commitment, the California DOJ has launched an Antitrust Complaint Form for reporting potential anticompetitive conduct.

To report anticompetitive conduct that potentially violates the antitrust laws visit https://oag.ca.gov/contact/antitrust-complaint-form