Canadian landlords accused of rent rigging using AI software
December 11, 2024
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2:26Now PlayingCanadian landlords accused of rent rigging using AI software
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as posted by the channelA proposed class-action lawsuit alleges more than a dozen landlords and property managers have conspired to artificially inflate rents across Canada.
The suit claims landlords and property managers did it by using software called YieldStar.
The Canadian suit alleges the software essentially allows landlords and property managers to share proprietary data on their rental pricing — information that wouldn't normally be shared with competitors — and that this could potentially allow companies to fix prices.
The move comes after the U.S. Department of Justice (DOJ) filed a similar lawsuit in August against RealPage Inc., the Texas-based company that created YieldStar. RealPage says it has filed a motion to dismiss the DOJ's lawsuit alleging antitrust violations.
RealPage is also named in the proposed Canadian suit. It has told CBC its software is designed to be "legally compliant" and that it will "vigorously defend itself" in court.
The suit is seeking financial compensation for any current and past tenants who have lived in any of the properties owned or operated by the 14 companies named. This issued claim is the first step before a class action is certified in court, which the main litigator on the case says could take months.
#Housing #Rentals #YieldStar #ArtificialIntelligence #News #CBCNews
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