A recurring line at the Reno City Council is often that they are mostly powerless to lower rent prices.
Five high-cost cities, though, San Francisco, Philadelphia, Minneapolis, San Diego and Berkeley recently voted to ban the use of prevalent rent algorithms, in an effort to push prices lower.
If our council wanted to do this as well, does anything prevent them from following suit?
Last year, the federal government sued the Texas-based RealPage real estate company, alleging its algorithm enables landlords to collude in raising prices.
Two of the landlords in that “rent pricing scheme” lawsuit Greystar and Cushman & Wakefield operate in Reno, with some of their properties the Ballpark Apartments, Fifteen51, Nova, the Highlands, Whittell Pointe, Zephyr Pointe and The Kaplan at Verdi Village.
The software allows property owners to share data and operate like a “cartel” setting illegal price-fixing, according to its many pro-renter detractors.
RealPage is fighting back and already suing Berkeley for passing its ban, which took effect today, saying it’s the housing supply and not price suggestions which are to blame, and that the bans violate its free speech.
An analysis in San Diego, however, found that renters in buildings where landlord relied on the software paid an extra $99 per month.
Meanwhile, legislators are also trying to ban these algorithms at the state level, with current efforts in California, Colorado and Washington, but this can be a more difficult and slower process in those bodies.
What say you Reno City Council members?
Our Town Reno, Ideas for Progress, April 24, 2025