Greystar, the largest manager of residential rental apartments in the U.S., has agreed to pay $50 million to settle allegations that it colluded with rivals to inflate rental prices using RealPage’s revenue management software. The agreement, announced on October 2, 2025, is part of a broader set of preliminary settlements totaling more than $141 million, filed in federal court in Nashville, Tennessee.
The allegations against Greystar and others
The 2023 class action lawsuit claimed that Greystar and other large property managers conspired to push rents above competitive levels by relying on RealPage’s software to generate coordinated pricing recommendations. Plaintiffs alleged that landlords shared confidential business data with the platform, effectively reducing competition and violating U.S. antitrust law.
The proposed settlements include $50 million from Greystar, $15 million from BH Management, and amounts ranging from $550,000 to $6 million from several other companies. About 20 defendants remain in the case, including Equity Residential, Brookfield Management, and RealPage itself.
Lawyers for the plaintiffs estimate that millions of renters nationwide could be included in the settlement class. They argue the agreements are not just financial compensation but also include restrictions on the type of data companies can share with RealPage in the future. The settling firms also pledged to cooperate as litigation continues against the remaining defendants.
Responses from the companies
RealPage has denied wrongdoing, stating that its products “have always been legal” and that it does not expect to change its software. Greystar said the settlement allows the company to move forward and focus on its business priorities. BH Management declined to comment, while Brookfield and Equity did not immediately respond to requests for comment.
Broader legal context
The case, In re: RealPage Inc Rental Software Antitrust Litigation (No. 3:23-md-3071, U.S. District Court, Middle District of Tennessee), highlights growing scrutiny of technology platforms in the rental market. It follows earlier settlements involving property managers accused of similar practices and state-level actions against RealPage.
Source: Reuters
