Software that helps landlords set prices for apartments across the U.S.
The Big Story
Sat. Oct 15, 2022
Texas-based RealPage’s YieldStar software helps landlords set prices for apartments across the U.S. With rents soaring, critics are concerned that the company’s proprietary algorithm is hurting competition.
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The vast tenant screening industry is subject to less regulation than credit scoring agencies, even though experts warn that algorithms could introduce racial or other illegal biases that can prevent people from getting housing.
Amid a national housing crisis, giant private equity firms have been buying up apartment buildings en masse to squeeze them for profit, with the help of government-backed Freddie Mac. Meanwhile, tenants say they’re the ones paying the price.
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