Hudson County Landlords Named in Rent-Fixing Lawsuit

Several landlords operating in Jersey City have been named in an antitrust lawsuit filed by New Jersey Attorney General Matthew J. Platkin against RealPage, Inc. and ten major property management companies. The suit alleges that these entities used RealPage’s algorithmic pricing software to coordinate rent increases across the state, violating federal and state antitrust laws.

According to the complaint, landlords including LeFrak, Veris Residential, AvalonBay Communities, and Bozzuto Management Company utilized RealPage’s Revenue Management software to share non-public data and align rental pricing strategies. This alleged coordination is said to have suppressed competition and led to inflated rents for tenants in multifamily housing units.

“The defendants in this case unlawfully lined their pockets at the expense of New Jersey renters who struggled to pay the increasingly unlivable price levels imposed by this cartel,” said Attorney General Platkin. “Today we’re holding them accountable for unlawful conduct that fueled the state’s affordable housing crisis and deprived New Jerseyans of their fundamental right to shelter.”

Jersey City Councilmember James Solomon responded to the lawsuit, stating, “Colluding to raise rents is illegal. Today, I thank NJ Attorney General Matt Platkin for taking action by suing many of Jersey City’s biggest developers and landlords for illegally raising your rents.”

The lawsuit seeks an injunction to halt the alleged practices, civil penalties, recovery of profits, and the appointment of a monitor to prevent future violations.