Attorney General Ellison announces $7 million settlement with nation's largest landlord over algorithmic pricing scheme
Multistate settlement with Greystar is part of ongoing lawsuit against RealPage for harmful algorithmic rent-pricing scheme; will bring close to $500K to Minnesota
November 19, 2025 (SAINT PAUL) — Today, Attorney General Ellison and a bipartisan coalition of nine states announced the filing a proposed $7 million settlement to resolve claims against Greystar Management Services LLC as part of the coalition’s ongoing litigation against property management software company RealPage and several large landlords that use RealPage’s services. Minnesota’s share of the settlement is roughly $483,000.
Greystar, the largest landlord in the United States, manages nearly 950,000 rental units nationwide, thousands of which are located in Minnesota. The coalition’s lawsuit alleges that RealPage collects competitively sensitive information from landlords such as Greystar, including apartment rental pricing, lease terms, and more. RealPage then uses that information to train and run an algorithm that generates pricing recommendations for landlords such as Greystar using their rivals’ proprietary information. The coalition’s lawsuit also alleges that Greystar and other landlords also discussed competitively sensitive topics — including pricing strategies, rents, and selected parameters for RealPage’s software — directly with each other. Attorney General Ellison and the coalition allege that these actions amount to an unlawful scheme to decrease competition in rental markets to the detriment of consumers.
“It’s hard to afford your life when your landlord is illegally coordinating with their rivals to keep your rent as high as possible,” said Attorney General Ellison. “Landlords should be competing against one another to attract renters by offering fair prices, good amenities, and reasonable lease terms. RealPage’s information sharing helps landlords like Greystar bypass that free market by allowing those landlords to essentially coordinate prices with one another, which is both unfair to renters and flat out unlawful. I’m pleased to have reached a settlement that requires Greystar to stop participating in this scheme to rig the rental market, and I look forward to continuing this litigation to end these unjust practices and to make the market fairer for renters.”
In addition to the monetary payment to the states, the proposed consent decree, if approved by the court, would require Greystar to:
- Refrain from using any anticompetitive algorithm that generates pricing recommendations using its competitors’ competitively sensitive data or that incorporates certain anticompetitive features;
- Refrain from sharing competitively sensitive information with competitors;
- Accept a court-appointed monitor if it uses a third-party pricing algorithm that is not certified pursuant to the terms of the consent decree;
- Refrain from attending or participating in RealPage-hosted meetings of competing landlords; and
- Cooperate with Minnesota and other plaintiffs in the ongoing litigation against RealPage and other landlords.
Attorney General Ellison encourages Minnesota consumers and businesses who wish to report concerns about antitrust issues to submit a report online via the Antitrust Report Form. Consumers may also call the Attorney General’s Office at (651) 296-3353 (Metro area), (800) 657-3787 (Greater Minnesota), or (800) 627-3529 (Minnesota Relay).
Joining Attorney General Ellison in reaching this settlement were the attorneys general of North Carolina, California, Colorado, Connecticut, Illinois, Massachusetts, Oregon, and Tennessee.
