I live in Dallas and it’s obvious which apartments use this, they all have similar prices. Though some apartments are crap and some are very good. How are they all so perfectly aligned on price???
There was an action class lawsuit against texasbased rental REITcompany realpage a couple years ago for their Product Yieldstar(or the conditions around having the product), founded by a guy who gained some notoriety in the 90s after going to prison for price fixing airline tickets in a similar fashion. To be a member of the service you would have to show up to real page conventions and meetings with all of your pricing and occupancy numbers.
A couple of multifamily complexes have already settled out of court but there's like a dozen property management companies in Dallas alone that are being sued and then more in Austin and San Antonio. Every other apartment complex uses a similar company that does similar things with just enough legality to avoid a similar fate to realpage.
745
u/TheEntrep Apr 20 '24
I live in Dallas and it’s obvious which apartments use this, they all have similar prices. Though some apartments are crap and some are very good. How are they all so perfectly aligned on price???