Ban on Rent Price Manipulation: Ending Algorithmic Collusion in Housing.
This Act targets price fixing in the rental market by prohibiting property owners from using software or services that collect competitor data and recommend rental prices. For citizens, this aims to foster competitive and potentially lower rents by preventing artificial inflation of housing costs. Harmed tenants gain the right to sue for triple the damages sustained.
Key points
Strictly prohibits the use of software or services that collect pricing and supply data from multiple property owners and then recommend rental rates or occupancy levels.
These coordinating functions are classified as illegal price fixing and a per se violation of antitrust laws, protecting tenants from artificially inflated housing costs.
Individuals harmed by rent manipulation can file civil lawsuits to recover three times the amount of damages they suffered (treble damages), plus legal fees.
Status:
Introduced
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