Colorado is among 10 states participating in a federal lawsuit accusing six major landlords of engaging in a price-fixing scheme to inflate rents.
The lawsuit alleges the landlords colluded to decrease competition and set rental prices by sharing competitive information about rents, occupancy levels, and pricing strategies.
Central to the case is RealPage, a software platform accused of using non-public data—such as lease terms and floorplans—to suggest rental prices. A Biden administration report estimated such practices added $136 to monthly rents in Denver.
State Democrats are using the case to revive a bill banning algorithmic rent-setting, citing concerns about affordability and fairness. Opponents of the bill argue algorithms can benefit the market if data is made public.
