Multifamily industry leader is committed to helping improve housing affordability and agrees to make a charitable donation to benefit local renters in Nevada RICHARDSON, Texas–(BUSINESS WIRE)–RealPage®, a leading global provider of AI-enabled software platforms to the real estate industry, announced today the company has reached a settlement and consent judgment with the State of Nevada regarding revenue management software use in Nevada. RealPage is pleased this resolution provides clarity for revenue management software use in Nevada, while preserving the ability to continue offering innovative solutions for the rental housing ecosystem. RealPage denies the allegations made by the Nevada Attorney General and resolved this matter to avoid the costs and distraction of potential litigation. RealPage’s solutions have always been legally compliant and are easily configurable as laws change or legal interpretations evolve. RealPage’s revenue management software has been reviewed over the years both by experienced antitrust counsel and, in 2017, by the U.S. Department of Justice without objection. After rental prices increased (along with home prices and many other consumer goods) due to a severe shortage of supply and other reasons associated with the COVID-19 pandemic, housing affordability became a center point for politicians and regulators. Although RealPage has always used data responsibly and in a pro-competitive, legally compliant manner, in response to legislative activity, RealPage previously modified its revenue management software to remove nonpublic data of unaffiliated properties from the calculation of rent recommendations for all customers’ properties. The proposed consent judgment includes the following terms: No admission and full release
No admission of wrongdoing or liability by RealPage. Release of any and all Nevada AG claims against RealPage related to allegations about its revenue management products.
Use of nonp…