California Attorney General (multistate coalition) — Greystar Management Services
A coalition of state attorneys general announced a USD 7 million settlement with Greystar, the largest US landlord, over its participation in an algorithmic rent-alignment scheme; Greystar agreed to stop using software that aligns rents using competitors' sensitive data and to cooperate against remaining defendants.
Key takeaway — how to prevent this
Algorithmic pricing tools that ingest competitors' data can expose you to price-fixing and antitrust liability — don't delegate pricing to a shared algorithm without competition-law review and genuinely independent decisions.
Case brief
Read from the authority's press release on 2026-09-06. Every holding carries a short verbatim quote from that text.
- Decided by
- California Attorney General
- Parties
- California Attorney General v. Greystar Management Services LLC
- Decision date
- November 18, 2025
- Remedy
- Greystar agreed to pay $7 million in penalties and fees, cease using algorithmic software that relies on rivals' confidential data to align rent prices, and cooperate with state antitrust claims against RealPage.
- Amount
- $7,000,000
- Appeal
- Appeal status not stated
Key holdings
Greystar agreed to stop using software that utilizes competitors' sensitive pricing data to set or align rent rates.
“Greystar agrees to stop using software offered by any company, including RealPage, that uses competitively sensitive information to align rent prices.”
The California Attorney General alleged Greystar illegally shared and gathered confidential pricing data via RealPage software to align rents.
“Attorney General Bonta alleges that Greystar used RealPage’s revenue management system to align rental prices with competing landlords by illegally sharing and gathering confidential pricing information.”
The proposed settlement requires Greystar to pay $7 million in penalties and state fees subject to judicial approval.
“Today’s settlement, subject to court approval, requires Greystar to pay $7 million in penalties and fees to the states.”
Greystar agreed to assist the coalition of states in their ongoing monopolization lawsuit against RealPage.
“Cooperate with the states’ monopolization claims against RealPage.”
In plain English
California Attorney General Rob Bonta, leading a coalition of nine state attorneys general, announced a 7 million dollar settlement with Greystar Management Services LLC, the largest property manager in the United States. Greystar was named as a defendant in an ongoing antitrust lawsuit targeting software company RealPage and several landlord co-defendants. According to the state authorities, Greystar utilized RealPage revenue management software to align rental prices across competing properties. The software collected confidential, nonpublic pricing parameters, rent figures, and strategies directly from competing landlords. RealPage then used algorithmic models to calculate uniform price recommendations, enabling landlords to raise rental rates together without traditional market competition. In California alone, Greystar manages approximately 333 rental properties using RealPage pricing software. Under the terms of the settlement, which is subject to court approval, Greystar will pay 7 million dollars in penalties and fees to the participating states. Greystar must cease using any pricing algorithm that relies on competitors competitively sensitive data, stop sharing nonpublic pricing strategies with rivals, and refrain from attending RealPage-hosted landlord meetings. Additionally, Greystar agreed to accept a court-appointed monitor if it uses non-certified pricing software and to assist the states in their ongoing prosecution of RealPage.
Inclusion does not imply wrongdoing or liability. Status reflects the latest information we have — always check the official source for current status.