Philadelphia City Council advanced legislation that’s designed to hold corporate landlords accountable for “price-fixing” rental rates. Under the antitrust measure, violators could be sued and face stiff fines for coordinating monthly rent, an illegal practice housing advocates say hurts low-income renters by undermining competition and fairness in the marketplace amid an affordable housing crisis. The bill does not expressly target revenue management software like RealPage. But the measure is meant to bar landlords from using those programs, and their proprietary algorithms, to artificially inflate the cost of housing. If passed, the city could file suit on behalf of tenants, and renters could also sue landlords directly. Landlords could be forced to pay $2,000 per violation. Read more at PlanPhilly.
Source: PlanPhilly; 10/16/2024