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Why U.S. renters are taking corporate landlords to court
(www.cnbc.com)
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this post was submitted on 05 Feb 2024
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Big landlords use software to scrape rents from all sorts of websites. One site can not be solely blamed. With the data available out there it's no wonder they're all aligned
This isn't a data scraping site. Clients uploaded their rental data to the site directly, and then the site "compares them" and tells the clients what to charge. It also explicitly requires all clients to follow its pricing "recommendations" to maintain those prices.
These landlords outsourced pricing collision to a 3rd party. They formed a monopoly with software and cost their tenats 100s of millions extra in doing so.
I've worked within multiple sfr companies over the past 8 years. Including with their product teams building out in house acquisitions and asset management platforms to quickly aggregate comps for rental and sale values. While what you're saying may be true, there is a lot more beneath the surface. To be clear, institutional single family landlords should be legislated out of existence, but to you and everyone downvoting, you don't get the big picture here.
Most apartments I've rented haven't had their rent amounts available online.