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.
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.
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.