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U.S. Department of JusticeAugust 23, 2024M.D.N.C. federal court filing
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DOJ v. RealPage: full complaint transcription

RealPageDOJTranscriptionAntitrust
The following is a direct transcription of key passages from the DOJ's August 2024 antitrust complaint against RealPage and the November 2025 settlement terms.

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Defendants' joining together to combine and exchange competitively sensitive information deprives the market of fully independent centers of decision-making on pricing, and thus is a combination and conspiracy in restraint of trade in violation of Section 1 of the Sherman Act.

RealPage contracts with competing landlords, who agree to share with RealPage non-public, competitively sensitive information about their apartment rental rates and other lease terms, in order to train and run RealPage's algorithmic pricing software, which then generates rental rate recommendations for participating landlords based on their own and their competitors' competitively sensitive information.

RealPage shall not use models that determine geographic effects narrower than at a state level. RealPage shall remove or redesign features that limited price decreases or aligned pricing between competing users of the software. RealPage shall refrain from conducting market surveys to collect competitively sensitive information, and shall refrain from discussing market analyses or trends based on non-public data, or pricing strategies, in RealPage meetings relating to revenue management software. RealPage shall accept a court-appointed monitor.

To make housing more affordable for millions of people across the country.

This transcription covers the complaint's core antitrust theory and the settlement's central operational restrictions. The full complaint and settlement documents run to substantially greater length, including detailed market definitions and a full accounting of the underlying data-sharing mechanism, available through the DOJ source link below.

Case: United States et al. v. RealPage, Inc. et al. Filed August 23, 2024. Settlement filed November 24, 2025.

DOJ press release and complaint →

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