WASHINGTON, DC — Millions of renters in the United States and its territories may be covered by a proposed settlement tied to allegations that RealPage’s rent-pricing software helped push multifamily rents higher. The deal would create a $359,925,000 settlement fund after a class action lawsuit filed in Tennessee accused RealPage and dozens of property management companies of using the software to coordinate rent increases. The defendants deny wrongdoing.
The court has not decided the merits of the case. Instead, the parties have agreed to the settlement fund and to changes in rental business practices, but the agreement still needs judicial approval before any money can go out. The deal is aimed at people who paid rent on a multifamily property during the class period and whose property was licensed to use RealPage software.
What The Settlement Covers
The proposed class includes renters in the U.S. or its territories who paid rent for a multifamily property between Oct. 18, 2018, and Nov. 21, 2025. It also covers tenants whose owner or property manager used licensed RealPage rent-pricing tools, including LRO, YieldStar or AI Revenue Management. Those software products are part of the allegations that pricing guidance was shared across the market.
According to the settlement terms, after taxes, administrative costs and attorneys’ fees are taken out, the remaining money will be divided based on how much rent each eligible person paid during the class period. People who paid more rent during that time are expected to receive a larger share of the fund than those who paid less.
Why The Case Matters
The lawsuit claims RealPage and dozens of property management companies violated federal and state antitrust laws by using software to help fix and inflate multifamily rents nationwide. The defendants have rejected those allegations. Because the case is part of a class action, the settlement is meant to resolve the claims without a trial, though the court still has to decide whether the deal is fair and adequate.
That distinction matters for renters because the settlement does not mean the court has ruled on who was right. It also does not create an automatic payout for every tenant who paid rent during the time period. Eligibility depends on whether a property was licensed for the software and whether a claim is filed successfully.
How Renters Can Check
Renters who want to know whether they may be included can check whether their property is covered and submit a claim through the settlement site. The agreement has not yet received court approval, so no money will be distributed until that process is completed. The amount any person may receive will also depend on the total claims, deductions and the rent paid during the class period.
For now, the main unresolved questions are whether the court will approve the settlement and how many renters will file claims. People who lived in a multifamily property licensed to use RealPage software during the listed dates should review the settlement details directly before assuming they qualify or estimating any payment.
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