Settlement delivers resolution and certainty, while reinforcing RealPage’s commitment to compliance, innovation, and greater housing opportunity
RICHARDSON, Texas–(BUSINESS WIRE)–RealPage®, a leading global provider of AI-enabled software platforms for the real estate industry, today announced that it has reached a settlement with the U.S. Department of Justice (DOJ) that, subject to court approval, resolves the DOJ’s legal action regarding the company’s revenue management software used in the multifamily rental housing sector.
The settlement provides resolution and clarity for RealPage customers and the broader multifamily industry, ensuring the company’s revenue management solutions remain fully available, legally compliant, and aligned with evolving laws and policies. RealPage has worked collaboratively with the DOJ throughout this process, engaging constructively to reach an outcome that strengthens confidence across the industry.
The settlement also provides greater certainty for housing providers and technology innovators that revenue management software can be operated confidently and in compliance with the views of federal antitrust enforcers.
“This resolution marks an important milestone for RealPage, our customers, and the multifamily industry,” said Dirk Wakeham, RealPage President and Chief Executive Officer. “Through it all, our teams remained focused on serving customers and advancing the technology the industry relies on every day. We are convinced that RealPage is part of the solution to addressing the cost of housing, helping operators make informed, independent decisions in a complex housing market. We are pleased to have reached this agreement with the DOJ, which brings the clarity and stability we have long sought and allows us to move forward with a continued focus on innovation and the shared goal of better outcomes for both housing providers and renters.”
Key Terms of the Agreement
The settlement reflects RealPage’s long-standing commitment to compliance and responsible innovation, ensuring our products continue to benefit both property owners and their residents.
- No findings or admissions of liability: The agreement includes no financial penalties, damages, or findings or admissions of wrongdoing.
- Continuity for customers: There is no disruption to customer operations. All RealPage solutions remain fully available, compliant, and configurable to meet evolving legal requirements.
- Formalizing product modifications already made or planned: The settlement essentially commits RealPage to the modifications to its revenue management solutions that it already has been implementing since over a year ago.
- Independent oversight: RealPage has agreed to an independent monitor to confirm the ongoing compliance of our revenue management products, reflecting our confidence in their integrity and our long-standing commitment to responsible operation and innovation.
“This resolution with the DOJ was necessary to provide certainty and finality for RealPage and its customers to avoid protracted litigation,” said Stephen Weissman, Gibson Dunn Partner and former Deputy Director for the Federal Trade Commission. “While we deny any wrongdoing, we appreciate the constructive engagement by DOJ and its willingness to bless the legality of RealPage’s prior and planned product changes under federal antitrust law through the consent decree.” Weissman added, “There has been a great deal of misinformation about how RealPage’s software works and the value it provides for both housing providers and renters. We believe that RealPage’s historical use of aggregated and anonymized nonpublic data, which include rents that are typically lower than advertised rents, has led to lower rents, less vacancies, and more procompetitive effects.”
RealPage’s Commitment to Responsible Technology
RealPage’s revenue management software has been used responsibly for over two decades, helping housing providers make informed, independent pricing decisions that keep properties competitive, provide choice and transparency for residents, and support a healthy rental housing market.
Looking Ahead
RealPage remains focused on advancing AI and data-driven innovation that supports fair, transparent leasing for residents, smarter living environments, and sustainable communities. The company will continue to partner with policymakers, customers, and industry leaders to help shape a balanced housing policy that protects residents, expands housing supply, and encourages responsible innovation to improve affordability.
“This is about moving forward with clarity, with confidence, and with a continued focus on building the future of housing technology,” Wakeham said. “Our mission remains the same: to lead responsibly, innovate boldly, and help shape a stronger, more efficient rental housing market that benefits both renters and housing providers.”
About RealPage, Inc.:
RealPage improves the business of living for both housing providers and residents. As the leading platform for AI-powered real estate operations, we connect property owners, operators, and residents across every stage of the rental journey – creating smarter, more transparent, and more responsive experiences. Our technology unifies marketing, leasing, operations, and financials for over 24 million rental units worldwide, putting AI at the center of real estate. From automating work and turning data into actionable insights to introducing the industry’s first agentic AI workforce, we empower property teams to deliver exceptional living experiences. Through our resident experience platform, LOFT, and an integrated suite of services, RealPage gives millions of residents greater transparency, flexibility, and ease – helping them lease, live, and engage confidently in their communities. Backed by Thoma Bravo and recognized by Forbes, Newsweek, and EnergyStar for innovation, sustainability, and workplace culture, RealPage is headquartered in Richardson, Texas, with offices across North America, Europe, and Asia. We’re building the future of real estate by connecting technology, people, and communities. www.realpage.com
Contacts
Jennifer Bowcock
Senior Vice President, Communications & Creative
RealPage
[email protected]
408-768-8221
