• @[email protected]
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    32 years ago

    No, that’s normal and how it should operate. The problem arises when everyone is using the same software suite so everyone has immediate access to current prices, and the software essentially tells you what you should price your units at to maximize your income.

    Maybe cartel was the wrong word as it wasn’t an intentional agreement between companies, just an outcome of the system and accelerated by instant access to information. A runaway feedback loop may be more appropriate.

    • @[email protected]
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      12 years ago

      It’s a more efficient use of time, I get that, but you are still operating month to month, on vacancies, and year to year on contracts. The end result each month is going to remain the same.

      • @[email protected]
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        12 years ago

        Of note, RealPage also advised on leaving units vacant to artificially reduce supply. It did this across entire metro areas. This is very much illegal collusion.

        • @[email protected]
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          12 years ago

          Besides being a stupid business model, what is illegal about hiring a consultant to advise you how to run your business? There can’t be a law saying all landlords MUST lease out all their properties is there?

          • @[email protected]
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            12 years ago

            There isn’t a vacancy law in the US yet afaik. But businesses talking to each other specifically to manipulate the market is very illegal. And that’s what RealPage’s entire business model is, pay to share information with your competition and everyone gets to raise rent together.