Ky. Off. of the Att'y Gen., Complaint, Commonwealth v. RealPage, Inc. (filed July 2, 2025)

Citation: Ky. Off. of the Att'y Gen., Complaint, Commonwealth v. RealPage, Inc. (filed July 2, 2025)
Jurisdiction: Kentucky (state)
Source: Official source
Original Source: https://www.ag.ky.gov/Press%20Release%20Attachments/2025.07.02%20Realpage%20C... ↗

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3. RealPage’s Transactional Data is Fundamentally Different from
Other Data Available to Landlords

71. The data that RealPage uses and supplies is unique relative to public data

available to landlords on listing or property websites. As compared to public data, RealPage data

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is much more granular, covers a broader array of business information, and includes

competitively sensitive data across several dimensions. For example:

a. Information on Actual Transactions. RealPage’s data include, for each

lease, the unit, floor plan, listed rent, final transacted lease price (including

any discounts), and lease term.

b. Renewals. RealPage’s data include the same information for lease

renewals. Information on renewals is not listed publicly—not even asking

rents—leaving a significant blind spot for landlords not using RealPage.

c. Time Span. AIRM and YieldStar have access to current and historical

lease data, from the previous day and going back two to three years.

d. Future Demand. The shared data further includes information on tenant

demand, including detailed information on inquiries and applications by

potential future tenants.

e. Accuracy. Landlords have greater assurance of the accuracy of the data

because it comes directly from the landlords’ own databases.

f. Coverage. The RealPage data covers millions of units from users of its

revenue management software and other products.

72. RealPage touts how its data is different. As one RealPage pitch deck put it, “we

have [the] most data and the best data.” And the “[q]uality of data is best in class given that it is

‘lease transaction data’—this provides insight into performance data from actual signed leases,

both new and renewal, net effective of concessions.” Another noted that without YieldStar