United States of America: Attorney Generals of nine states entered into USD 7 million settlement with Greystar for participating in algorithmic rent alignment scheme

On 18 November 2025, nine state attorneys general of the United States, including North Carolina, California, Colorado, Connecticut, Illinois, Minnesota, Oregon, and Tennessee, and the Commonwealth of Massachusetts, reached a USD 7 million consent judgment against Greystar Management Services. The settlement covers Greystar’s rental property management operations across the settling states and applies to its use of revenue management tools for pricing nearly 950’000 rental units nationwide and over 333 properties in California. The settlement prohibits Greystar from using any pricing software that incorporates rivals’ non-public data or includes anticompetitive features, including mandatory pricing or price floors. Greystar is also prohibited from sharing sensitive pricing information with rivals or attending RealPage user meetings. It is also required to adopt antitrust compliance policies within 30 days and appoint a compliance officer, and provide notifications and certifications for any pricing software it uses. It is also required to accept a court-appointed monitor if it uses certain third-party algorithms.