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... ↗

Related Parts of This Source

1,773 chars

accepting price recommendations without offering discounts, including “no concessions.”

Concessions cause landlords to deviate from what RealPage determines is the maximum

revenue-generating price.

4. AIRM and YieldStar Increase and Maintain Landlords’ Pricing
Power by Using Competitors’ Data to Manage Lease Expirations

130. Supply is a basic component of pricing. For this reason, information on a

company’s supply is highly sensitive, and its disclosure to competitors is particularly concerning.

Yet AIRM and YieldStar use competitors’ supply data precisely for the purpose of adjusting

unit-level pricing, regardless of whether the landlord accepts the floor plan price

recommendation. The goal of this “lease expiration management” is clear: As a RealPage senior

manager explained for a client, using this data means that the client’s property “will remain in a

position of pricing power.”

131. The purpose of lease expiration management is to avoid too many units becoming

available in the market at the same time. Expiration management only increases unit-level prices.

It never reduces the price.

132. Every landlord can choose to use “market seasonality” to inform its lease

expiration management. As the name suggests, market seasonality adjusts the landlord’s prices

42
based on how many of its competitors’ units will be vacant—that is, future supply. This feature is

popular among landlords. For example, one of the largest landlords in the United States uses it in

98% of its properties. Every single property that uses market seasonality is leveraging

RealPage’s access to this highly sensitive, nonpublic data about its competitors’ supply to inform

pricing. RealPage trains landlords to turn on market seasonality as a best practice.