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Recently, RealPage has faced significant legal scrutiny based on allegations that RealPage’s software contributes to rent price inflation, which could be harmful to tenants and potentially violate antitrust laws. RealPage is a well-known real estate technology company that offers property management software, data analytics, and tools for real estate investment. The company’s software is used by property managers and commercial real estate owners for property management, including for pricing rent.
Several lawsuits have been filed against RealPage, which allege that its rent-setting algorithm promotes higher rent prices by reducing competition among property owners. The plaintiffs allege that RealPage’s software enables landlords to increase rents in a coordinated manner, thus inflating rental prices across the market.
The legal arguments are primarily based on antitrust principles, which are supposed to prevent businesses from engaging in practices that damage fair competition. The plaintiffs claim that RealPage’s software, by facilitating uniform rent increases, essentially creates a form of price-fixing, which is illegal.
While these lawsuits contain allegations, tenants, landlords and property managers could be impacted. For example, if landlords use RealPage’s software to set rents at artificially high prices, then tenants could pay higher than market rate for their housing. As a result, this can lead to increased financial burden for tenants, especially in high-demand urban areas. Likewise, landlords and property managers could face higher scrutiny and regulatory changes that could adversely impact how rent price is rent.
Keyway is a leader in AI data aggregation and analysis for commercial real estate investors, property managers, lenders and other stakeholders. Keyway leverages advanced data analytics to provide valuable insights to investors, property owners, and operators. By leveraging accurate public data, Keyway helps its clients make more informed decisions, ultimately leading to better investment outcomes.
Keyway collects and analyzes vast amounts of public data to identify trends and opportunities in the commercial real estate market, particularly in small multi-family. This data includes property values, rent prices, demographic information, and economic indicators. By synthesizing this data, Keyway can provide actionable insights – through its proprietary platform, KeyPilot – that help clients understand market dynamics and make strategic decisions.
One of Keyway’s strengths lies in its use of predictive analytics. By analyzing historical data and current market trends, Keyway can forecast future market conditions. This allows investors and property owners to anticipate changes in the market and adjust their strategies accordingly. To make accurate predictions, Keyway uses current public data and the power of AI and machine learning.
Beyond public data, Keyway’s recent achievement of SOC2 Type 1 compliance underscores its commitment to data security and privacy. This certification provides reassurance to clients that their data is being managed with the highest level of security. Maintaining high standards of data security and operational integrity is part of Keyway’s core business, and this accomplishment not only mitigates risks associated with data breaches and regulatory penalties, but also ensures our constant commitment to data security and regulatory compliance. For real estate investors and operators, knowing that their data is secure is crucial, as it protects sensitive information and helps build trust with Keyway and KeyPilot.
How does Keyway use data and AI in commercial real estate to achieve positive outcomes for investors and clients?
There are several ways, but here are a few:
Data and AI are transforming the commercial real estate sector by enhancing decision-making. Keyway uses AI and machine learning to analyze public data sets and identify patterns that may not be apparent through traditional analysis. This strategy enables clients to make data driven decisions that are based on accurate and up-to-date information.
By leveraging predictive analytics, Keyway can help clients and investors identify potential risks and mitigate them before they become significant issues. This proactive approach to risk management can lead to more stable and profitable investments. Whether it’s determining valuation or conducting due diligence, Keyway can analyze public data for better risk management.
Data and AI also play a crucial role in investment management. By providing detailed insights into market conditions, property performance, and economic trends, Keyway helps investors identify the attractive opportunities with compelling investment returns. This level of analysis can be particularly valuable in a competitive commercial real estate market, where making informed decisions can be the difference between success and failure.
RealPage’s rent price legal issues highlight the complexities and challenges of using advanced software in the real estate market. While these allegations play out in court, the legal scrutiny emphasizes the importance of transparency and data accuracy for commercial real estate stakeholders, including tenants, property managers, operators and investors. By leveraging accurate public data and AI and machine learning, Keyway provides valuable insights that enhance decision making, optimize investments, and improve risk management. Furthermore, Keyway’s SOC2 Type 1 compliance demonstrates its commitment to data security. In an industry where data is a critical asset, the power of data and AI cannot be overstated. As real estate investors continue to navigate the commercial real estate market, having access to accurate, reliable, and secure data will be essential to their success.
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