The Issue:

In recent years, renters across Seattle and wider Washington State have faced skyrocketing rental prices, far outpacing the normal expectations set by market demand. Investigations and reports have revealed alarming allegations that these price surges may not solely be a result of market forces but could be significantly influenced by potentially unlawful price fixing orchestrated by RealPage and its collaborators using sophisticated algorithms. This scenario suggests a modern form of price fixing, which might be contributing to the affordable housing crisis in our state.

 
Background:

RealPage, a company known for its property management software, is alleged to utilize a pricing algorithm that could be manipulating the rental market. This software aggregates sensitive data from landlords and recommends pricing strategies that keep rental prices artificially high, potentially stifling competition and collaboration among different property owners. Notably, similar patterns have prompted investigations by other state attorneys general and federal bodies, revealing that this issue could be widespread, affecting numerous markets across the country. The U.S. Department of Justice has already opened a criminal investigation into RealPage's practices following multiple lawsuits from renters alleging unfair price manipulation.

 
Who is impacted?

Tens of thousands of residents across Washington State, particularly in high-demand areas like Seattle, are facing unprecedented rent increases that are squeezing their budgets and forcing difficult decisions about housing, healthcare, and other essentials. The alleged use of pricing algorithms by RealPage and its collaborators, which may be artificially inflating rental prices, disproportionately impacts working families, low-income residents, and young professionals striving for stability and community in our urban centers.

What is at stake?

The integrity of our housing market and the basic affordability of living in Washington State are at risk. If the alleged price fixing continues unchecked, we could see a continued rise in rental prices that outstrips wage growth, pushing more residents out of their neighborhoods or into precarious living situations. Conversely, a timely investigation by the Washington State Attorney General could curb these potentially illegal practices, leading to fairer pricing that reflects true market conditions, fostering a healthier economy, and ensuring that housing remains accessible for all residents, not just the affluent.

 
Why is now the time to act?

Recent reports and investigations into similar practices in other states have shown that without swift action, these pricing strategies could become more entrenched and harder to challenge. With the U.S. Department of Justice already investigating RealPage for similar allegations, there is a pressing need for our state’s legal authorities to step in and protect our citizens. Washingtonians deserve transparency and fairness in housing, and we must act now to prevent further erosion of affordability and trust in our real estate markets.

 
The Call to Action:

We, the undersigned, urge the Washington State Attorney General to:

• Open a comprehensive criminal investigation into RealPage and any associated property management companies operating in Washington State.
• Examine the potential collusive behavior facilitated by RealPage’s algorithm, which might be enabling a de facto rental price cartel.
• Hold accountable any entities found complicit in manipulating rental market prices to the detriment of Washington residents.
• Implement stricter regulations and oversight to prevent the misuse of algorithms in setting rental prices.

Why It Matters:

Affordable housing is a fundamental right, and the integrity of our housing market must be protected from unlawful practices. Many residents of modest means rely on fair rental prices to sustain their livelihoods and families. Our state authorities must take decisive action to ensure that our housing market serves the needs of all Washingtonians, not just the financial interests of large property management firms.

Your voice matters! Sign this petition to demand fairness and transparency in our rental markets. Let's ensure that everyone in Washington State has access to affordable housing without fear of artificial price inflation driven by powerful software algorithms.

Thank you for your support.

#FairHousingForAll #StopRentalPriceFixing