Thoma Bravo’s RealPage Sued by US in Rental Collusion Case (2)

The US sued Thoma Bravo LLC’s RealPage Inc. for allegedly violating antitrust law by helping property managers collude to drive up rental prices on millions of units across the country.

In a complaint filed by the Justice Department on Friday, antitrust enforcers said RealPage’s software, which helps landlords set rental unit pricing, has effectively raised prices on renters illegally. RealPage is a top software provider to the multifamily rental industry.

“RealPage has built a business out of frustrating the natural forces of competition,” according to the lawsuit, which cites allegedly anticompetitive remarks by company executives. “A rising tide raises ...