How Landlords Are Using AI To Screw You

Report exposes just how much AI is screwing over renters. Ana Kasparian and Cenk Uygur discuss on The Young Turks. SUBSCRIBE today: ☞ http://www.youtube.com/subscription_center?add_user=theyoungturks

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"The property management software used by many corporate landlords, RealPage, is deploying AI to artificially inflate rental prices in the United States by more than $3.6 billion annually, according to a new report by the White House Council of Economic Advisers (CEA).

RealPage, owned by the private equity firm Thoma Bravo, includes a tool called "AI Revenue Management" that provides recommendations for rental prices based on data from competitors. The feature, according to the CEA, the Department of Justice (DOJ), and class action lawsuits, facilitates "price coordination." It allows individual landlords to "act as if they are a single dominant landlord, and use their collective market power to increase profits by setting higher prices."

According to the CEA, "nearly 1 in every 4 rental" in the multi-family housing sector "uses a RealPage pricing algorithm." In some metropolitan areas, including Atlanta and Dallas, more than 50% of multi-family units use RealPage to set prices."*

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