RealPage Lawsuit Reaches Settlement with U.S. Department of Justice in Rental Pricing Case

RealPage LawsuitArizona AG Mayes’ Lawsuit Against RealPage and Other Arizona Apartment Owners Still Pending

(November 26, 2025) — RealPage, Inc., the Richardson, Texas–based provider of revenue management and rental-pricing software for the multifamily housing industry, has reached a settlement with the U.S. Department of Justice (DOJ) resolving the federal antitrust action involving its pricing algorithms filed August 23, 2024. The agreement is memorialized in a proposed consent judgment and remains subject to court approval under the Tunney Act process.

This settlement does not resolve the separate lawsuit filed by Arizona Attorney General Kris Mayes against RealPage and several large landlord-defendants—including Tucson-based HSL Properties—which remains active.

Key Terms of the DOJ Settlement

According to the DOJ, the proposed consent judgment requires RealPage to:

  •  Cooperate fully in the United States’ lawsuit against property management companies that used its revenue-management software.
  •  Stop using competitors’ nonpublic, competitively sensitive information to set rental pricing in real time.
  •  Limit model training to historic, backward-looking nonpublic data that is at least 12 months old.
  •  Prohibit the use of models that evaluate geographic effects narrower than the state level, preventing metro-level or neighborhood-level coordination.
  •  Remove or redesign features that discouraged price reductions or encouraged alignment of competitors’ pricing decisions.
  •  Stop conducting market surveys to collect and redistribute competitively sensitive rental data.
  •  Cease discussing nonpublic market data or pricing strategies in internal RealPage meetings about its revenue-management products.
  •  Accept a court-appointed compliance monitor for a three-year oversight period.
  •  Provide cooperation to federal enforcement efforts targeting property managers who allegedly used RealPage tools to coordinate rents.

The DOJ described the settlement as part of its broader national push to address algorithmic coordination, information-sharing practices, and other anticompetitive conduct in rental markets nationwide.

“Competing companies must make independent pricing decisions, and with the rise of algorithmic and artificial intelligence tools, we will remain at the forefront of vigorous antitrust enforcement,” said Assistant Attorney General Abigail Slater of the DOJ’s Antitrust Division.

RealPage President and CEO Dirk Wakeham called the settlement “an important milestone” for the company and the multifamily industry.

“Our teams remained focused on serving customers and advancing the technology the industry relies on every day,” Wakeham said. “We are convinced that RealPage is part of the solution to addressing the cost of housing, helping operators make informed, independent decisions in a complex housing market. We are pleased to have reached this agreement with the DOJ, which brings the clarity and stability we have long sought and allows us to move forward with a continued focus on innovation and the shared goal of better outcomes for both housing providers and renters.”

Status of the Arizona Lawsuit Against RealPage and Nine Arizona Apartment Owners

The DOJ settlement does not dismiss or resolve the February 2024 lawsuit filed by Arizona Attorney General Kris Mayes, which accuses RealPage and nine major apartment owners—including HSL Properties Inc.—of unlawfully using coordinated pricing algorithms to raise rents in Phoenix and Tucson.

As of today, there is no public record of a settlement, dismissal, or pause in the Arizona case (Superior Court Case No. CV2024-003889). The lawsuit remains active. Because RealPage must cooperate with ongoing state enforcement actions as part of the DOJ settlement, this may influence the progression of the Arizona case, but it does not resolve it.