Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Big Tech Algorithm Helps Corporate Landlords JACK UP Rents
Posted
October 20, 2022
Views
62,933
Likes
2,793
Comments
945
Engagement
5.94%
October 20, 2022
62,933
2,793
945
5.94%
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17:59Now PlayingA new report by Propublica exposed the software package landlords use to help them raise rents. Ana Kasparian discusses on The Young Turks. Watch LIVE weekdays 68 pm ET.
Read more HERE
"On a summer day last year, a group of real estate tech executives gathered at a conference hall in Nashville to boast about one of their company’s signature products: software that uses a mysterious algorithm to help landlords push the highest possible rents on tenants.
“Never before have we seen these numbers,” said Jay Parsons, a vice president of RealPage, as convention goers wandered by. Apartment rents had recently shot up by as much as 14.5%, he said in a video touting the company’s services. Turning to his colleague, Parsons asked: What role had the software played?
“I think it’s driving it, quite honestly,” answered Andrew Bowen, another RealPage executive. “As a property manager, very few of us would be willing to actually raise rents double digits within a single month by doing it manually.”
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