Statement from RealPage: U.S. Department of Justice Terminates its Investigation of Multifamily Rental Housing Pricing Practices

RealPage®, a leading global provider of AI-enabled software platforms to the real estate industry, today received notice that the U.S. Department of Justice (DOJ), Antitrust Division, has closed its criminal investigation into pricing practices in the multifamily rental housing industry.

RealPage extensively cooperated with the DOJ throughout its investigation, and we have remained steadfast in our belief that RealPage never violated the antitrust laws. Throughout its investigation, the DOJ never identified RealPage as a target of the investigation. We appreciate the DOJ’s recognition that its investigation merited closure.

RealPage will continue to aggressively defend itself in the remaining, previously filed civil lawsuits, which we believe are wholly without merit. As we have explained, including on our dedicated website, RealPage’s revenue management software is purposely built to be legally compliant, enhances competition throughout the rental housing ecosystem and is highly configurable by our customers. RealPage revenue management customers always have total discretion to accept or reject pricing recommendations—and customers regularly exercise that discretion in practice.

We remain unwavering in our belief that RealPage’s revenue management software benefits both housing providers and residents and that the remaining lawsuits are based on misinformation and baseless allegations.

About RealPage, Inc.

RealPage is the leading global provider of AI-enabled software platforms to the real estate industry. By using RealPage solutions for operational excellence in the front office and throughout property operations, many leading property owners, operators and investors gain transparency into asset performance with data insights, enhancing experiences with customized tools and improving efficiencies to generate incremental yield. In 2021, 2022, 2023 and 2024, RealPage was recognized as ENERGY STAR^® Partner of the Year for Sustained Excellence from the Environmental Protection Agency (EPA) and the U.S. Department of Energy. In 2024, RealPage was recognized as one of America’s Best Employers by Forbes and America’s Best Employers for Women by Forbes and one of America’s Greatest Workplaces for Women by Newsweek. Founded in 1998 and headquartered in Richardson, Texas, RealPage joined the ThomaBravo portfolio of market-leading enterprise software firms in 2021 to realize faster growth and innovation in serving more than 24 million rental units from offices in North America, Europe and Asia. RealPage has been certified as a Great Place to Work^™ in India, the Philippines, the UK and the U.S. For more information, visit RealPage.

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