Breaking: One of America’s largest landlords agrees to settlement that could bring relief to thousands of renters nationwide
If you’ve been struggling with rising rent costs, you’re not alone—and there’s finally some potential good news on the horizon. The Department of Justice just announced a proposed settlement with Greystar Management Services that could put an end to some seriously shady rental pricing practices.
What’s Been Happening Behind the Scenes?
Here’s the jaw-dropping part: Greystar, which manages nearly a million rental units across the country (including thousands right here in Charlotte), has been accused of working with other major landlords to artificially inflate rent prices.
The scheme worked like this: Instead of competing fairly in the market, these companies were allegedly sharing sensitive pricing data through a software company called RealPage. The software’s algorithms would then recommend higher rental rates, essentially allowing landlords to coordinate price increases without directly communicating with each other.
Think of it as price-fixing with a tech twist—and it’s been happening for years.
Local Impact: Charlotte Renters Know This Story
Charlotte residents might recognize Greystar’s name from previous controversies. Back in 2022, the luxury apartment complex Skyhouse Uptown (now called the Ascher), operated by Greystar, made headlines when they refused to fix broken appliances that caused a renter’s home to flood. It’s a pattern that suggests these issues go beyond just pricing.
The federal case also connects to a lawsuit filed by North Carolina Attorney General Jeff Jackson, who’s been fighting these same companies for colluding to manipulate rental prices instead of competing fairly.
What the Settlement Could Mean for You
If approved, this settlement would force Greystar to make some major changes:
No More Algorithm Abuse: They’d be banned from using any pricing software that incorporates competitors’ data or has anti-competitive features.
Information Sharing Prohibited: No more sharing sensitive pricing information with other landlords.
Court Oversight: If they want to use third-party pricing algorithms in the future, they’ll need court approval and monitoring.
Cut Ties with RealPage: They can’t participate in RealPage-hosted meetings with competing landlords.
Full Cooperation: They must cooperate with ongoing cases against RealPage.
The Bigger Picture
This isn’t just about one company—it’s about protecting fair competition in the housing market. As Attorney General Pamela Bondi noted, “American greatness has always depended on free-market competition, and nowhere is competition more important than in making housing affordable again.”
The timing couldn’t be more critical. With housing affordability reaching crisis levels across the country, this settlement represents a significant step toward ensuring landlords compete fairly rather than collude to keep prices high.
What Happens Next?
The proposed settlement still needs court approval, but it signals that federal authorities are taking rental market manipulation seriously. This case, filed in January 2025, is part of a broader crackdown on anti-competitive practices in the housing sector.
For renters, this could mean more genuine competition among landlords, which should theoretically lead to more reasonable pricing. While it won’t solve the housing crisis overnight, it’s a step in the right direction.
Important Steps to Rent Your Home Out from A to Z
Step by step checklist for getting a home rented, and link to the full property management guide
1 Consider strengths and weaknesses for your home and location and consider special strategies to utilize them. Is it a college area? If so, you’ll likely handle a lot differently from low income, or a suburb.
2 Get the property in show-ready condition by handling repairs, but also low-cost aesthetic fixes like spray painting rusted AC grates, and other things that really stand out. A sure way to attract sub-par tenants and repel the rest is to show a home with unrepaired issues.
3 Decide whether you’re going to allow pets or not. Before you decide, know that for most landlords it’s the single best thing you can do to increase your “bottom line” profit over the long term. More on this subject here
4 Set a rental rate that will balance a minor amount of time on market hassle, with monthly rate. Whether in the form of owner-occupied showings, stress, or vacancy. Most owners fail to properly account for these subtle but real costs, especially vacancy. Vacant homes are much more costly than most account for. We can provide a free rental rate estimate compiled by people, not an algorithm, here
The Bottom Line
This settlement sends a clear message: using technology to manipulate rental markets won’t be tolerated. Whether you’re renting in Charlotte or anywhere else in the country, this case could help restore some fairness to a market that’s been stacked against tenants for too long.
To read more, visit DOJ proposes settlement to stop rental market manipulation by Greystar | wcnc.com.
