The Federal Bureau of Investigation (FBI) conducted an unannounced raid of national corporate landlord Cortland Management on May 22, ramping up an investigation into an alleged rental price-fixing conspiracy that may have already impacted millions of Americans.
The surprise search was reportedly part of a criminal antitrust investigation by the U.S. Department of Justice (DOJ) into RealPage, a $9 billion software company that recommends rent raises on millions of housing units across the U.S.
Per RealPage blog posts, Atlanta, Georgia-based Cortland, which owned nearly 85,000 apartment units as of June 2022, used RealPage’s algorithm to “ensure consistent vendor pricing for their communities from Arizona to Georgia.”
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