this post was submitted on 05 Jul 2023
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United States | News & Politics

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'A lot of fear': Rent hikes across US mean eviction notices for many Americans (www.usatoday.com)
submitted 1 year ago by yogthos@lemmy.ml to c/usa@lemmy.ml
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[–] Spitfire@pawb.social 3 points 1 year ago (1 children)

I didn’t know that some companies did that.

I figured that unoccupied units would be a drive to lower rent to fill them, not keep them high and unused just to keep values up.

[–] SeaJ@lemm.ee 1 points 1 year ago

The large companies use software like RealPage to essentially collude and keep prices high. They only their rental unit info into the software and an algorithm analyzes all of the data input by the companies to automatically raise prices and suggest the primal available units to maintain that increased price. There are several neighborhoods in my city where 70% of the unit owners use RealPage.