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Breaking News: Major apartment landlords are currently under investigation

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Apartment firms probed in Arizona operate thousands of units in Oklahoma

Authorities are currently conducting an investigation into nine prominent apartment landlords who are suspected of colluding with a software company to unlawfully increase rental prices in Arizona. Among these landlords are three companies that oversee a total of 39 apartment communities, comprising numerous units, in Oklahoma.

The software company, RealPage Inc., along with 14 D.C. apartment owners and managers, is facing legal action from the District of Columbia attorney general’s office. The allegations involve rent-fixing, which has sparked controversy due to what many perceive as excessive rent increases during the COVID-19 pandemic. President Joe Biden and other critics have strongly criticized this practice.

RealPage assists landlords in implementing a pricing strategy known as “dynamic pricing,” which is also referred to as “surge pricing” or “peak pricing.” This strategy involves charging customers higher rental rates during periods of high demand, with rents being adjusted on a daily basis.

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