Many apartment managers use revenue management software to set rents. The Justice Department sued the software company RealPage, and on November 24, 2025 its Antitrust Division filed a proposed settlement that would change how that software works.
What changed
The proposed consent judgment would resolve the United States' claims against RealPage. If the U.S. District Court for the Middle District of North Carolina approves it, RealPage would have to:
- Stop having its software use competitors' nonpublic, competitively sensitive information to determine rental prices.
- Stop training its models on active lease data. Training would be limited to historic data aged at least 12 months.
- Avoid models that determine geographic effects narrower than the state level.
- Remove or redesign features that limited price decreases or aligned pricing between competing users.
- Stop conducting market surveys that collect competitively sensitive information.
- Refrain from discussing market analyses, trends or pricing strategies based on nonpublic data in meetings about its revenue management software.
- Accept a court-appointed monitor and cooperate in the government's case against property managers that used the software.
The court may enter the judgment after a 60 day public comment period that starts when the proposal is published in the Federal Register, if it finds the judgment is in the public interest.
Who this affects
Directly, RealPage. The Justice Department's release does not list obligations for landlords. Owners and managers who use revenue management software, in Reno-Sparks or anywhere, may see changes in how their vendor produces rent recommendations. The Justice Department's case page also lists proposed settlements with some property management companies.
Effective date
The settlement was proposed on November 24, 2025 and needs court approval. We did not confirm the court's final action, so check the case page for the current status.
What owners should do
- Ask your software vendor in writing what data feeds its recommendations and whether the product is changing.
- Set rents based on your own property's data, and keep notes on how you reached each decision.
- Do not trade nonpublic rent, occupancy or lease data with competing properties.
- If a question comes up about a specific practice, ask an antitrust attorney.
This is a summary, not legal advice.