Greystar Reaches Deal in US Justice Department’s Rental Market Collusion Case
Greystar Real Estate Partners LLC, a major US landlord, has reached a tentative settlement with the Department of Justice (DOJ) regarding an antitrust lawsuit. The DOJ had accused Greystar of colluding with other landlords to increase rents across the country, partly through the use of industry software. The lawsuit alleged that Greystar and other landlords used the software to share information and coordinate rent increases, which led to higher prices for tenants. As part of the settlement, Greystar has agreed to make changes to its business practices to prevent future collusion. The settlement is a significant development in the DOJ's efforts to address anti-competitive practices in the rental market. The case highlights the government's concern over the potential for landlords to use technology and data-sharing to undermine competition and harm consumers.
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