Big Warning for Landlords Using AI-Powered Software to Set Rents

Real Estate News: Real Estate Investing Podcast

The Department of Justice is ramping up its price-fixing probe into the use of AI by large residential landlords and management companies to set rental rates. You may have heard of the investigation into RealPage and the lawsuits against RealPage and property owners that use the software. According to published reports, the DOJ is escalating and expanding that investigation. Hi, I’m Kathy Fettke and this is the 1,400th episode of Real Estate News for Investors! And now we’re going for 1,500 and beyond to help keep you informed! I’d also like to invite investing listeners to a RealWealth webinar on the tax benefits of “cost segregation.” You can find out how that works and how much you can SAVE at a webinar on July 11th. You’ll find information about our free weekly webinars at newsforinvestors.com. Now back to our story…After a recent seminar in Atlanta with housing experts and housing advocates, the chair of the Federal Trade Commission, Lina Kahn, said that her agency is working with other federal agencies to uncover illegal AI-powered rental price-fixing schemes in large metro areas... LINKS:

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~~~~ REFERENCES: ~~~~ 1 - https://www.bisnow.com/national/news/multifamily/the-government-is-cracking-down-on-rental-price-fixing-using-ai-ftc-confirms-124646 2 - https://www.multifamilydive.com/news/AvalonBay-communities-JBG-highmark-antitrust-suit/717967/ 3 - https://www.atlantanewsfirst.com/2024/06/07/ftc-chair-no-ai-exemption-laws-when-it-comes-setting-rent-prices/ 4 - https://www.ftc.gov/business-guidance/blog/2024/03/price-fixing-algorithm-still-price-fixing