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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108. AIRM and YieldStar are designed to help landlords press pricing beyond what

they could otherwise achieve while reducing the risk that other landlords would undercut them.

A revenue manager at Willow Bridge explained it succinctly: YieldStar is “designed to always

test the top of the market whenever it feels it’s safe to.” By using competitors’ sensitive

nonpublic data to generate elasticity estimates, among other things, AIRM and YieldStar can

recommend higher price increases to extract more money from renters without losing an

additional lease. As RealPage explained to a YieldStar client in training, this pricing elasticity

measurement informs “how far do we stretch and pull pricing within the market.” That, in turn,

means that “we may have a $50 increase instead of a $10 increase for that day.”

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109. That insight, gleaned from competitors sharing sensitive, transactional data with

RealPage, which is in turn shared with landlords through pricing recommendations, removes

uncertainty and competitive pressure that benefits renters. As one landlord put it, these products

“eliminate the guessing game” on rent.

110. As RealPage explains to its clients, AIRM and YieldStar reveal “hidden yield.”

This extra yield or revenue is hidden in a competitive market—a market in which competitors do

not share sensitive information with each other—because landlords “can’t see the opportunity”

and “fail to capture [the] full opportunity.”

111. AIRM and YieldStar disrupt the normal competitive bargaining process between

landlords and renters. They place landlords in a better negotiating position vis-à-vis renters.

Landlords using AIRM and YieldStar know that these models recommend floor plan prices and