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

1,673 chars

to a single-family home. In many areas, relatively few children live in conventional multifamily

apartments. Multifamily apartments typically offer community amenities and a different lifestyle,

such as high walkability in an urban area, whereas single-family homes generally do not offer the

same amenities and offer instead increased privacy, including private yards. A RealPage analyst

explained in 2022 that because a move to a single-family home is a “lifestyle choice,” single-

family home rentals were not direct competitors to multifamily rental housing.

147. Industry participants agree that single-family rentals attract a different pool of

renters from multifamily rentals. A managing director of a single-family rental property

management company explained in 2021 that a renter’s journey from multifamily apartment

living to single-family rentals came as life stages evolved. The CEO of a single-family rental

developer similarly explained that these single-family rental homes are for renters who age out of

multifamily apartments. Single-family rentals are also typically priced higher than multifamily

apartments, further reducing potential substitution between them.

C. Geographic Markets

148. Defining relevant geographic markets helps courts assess the potential

anticompetitive impact of the agreements challenged. Here, the relevant geographic markets for

the purposes of analyzing the anticompetitive effects of RealPage’s agreements with landlords

are the areas in which the sellers (the landlords) sell and in which the purchasers (potential

renters) can practicably turn for alternatives. RealPage’s agreements are alleged to have