RALEIGH — North Carolina Attorney General Jeff Jackson has reached a multi-million-dollar settlement over a rent-fixing scheme.
The settlement involves the company LivCor.
North Carolina and eight other states sued the company, accusing it of using AI software to raise rents.
As part of the settlement, LivCor will stop:
- Sharing sensitive data with other landlords.
- Using third-party software or algorithms to price apartments, unless the software is within the rules.
- Sharing or using any competitively sensitive data from other landlords and property managers to set rent prices or generate recommended rent prices.
- Attending or participating in RealPage-hosted meetings of competing landlords.
“This case is about leveling the playing field so that consumers pay affordable rents,” Jackson said in a news release.
Livcor did not admit to any wrongdoing.
There was a similar settlement involving Greystar.
That company paid $50 million to settle a class action lawsuit in nine states, including North Carolina.
A lawsuit against RealPage and three other corporate landlords is still pending.
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