Banning Algorithmic Price Fixing to Lower Rental Housing Costs.
This law aims to stabilize or reduce rental prices by prohibiting large property owners (those with 4 or more units) from using shared algorithmic systems to coordinate pricing. Citizens harmed by these practices can sue owners and coordinators, potentially recovering triple the damages sustained. Crucially, the law invalidates pre-dispute arbitration clauses, making it easier for tenants to pursue class actions.
Key points
Owners of 4 or more residential units are banned from using shared algorithmic tools to recommend rental prices, preventing artificial rent inflation.
Individuals harmed by price coordination can file civil lawsuits to recover triple the damages plus legal costs.
Pre-dispute arbitration agreements and class action waivers related to these violations are made unenforceable, strengthening tenant rights.
Status:
Expired
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