RealPage $359.93M Renters Antitrust Class Action Settlement

Individuals who paid rent directly to a landlord, property manager or owner-operator for a multifamily residential lease at a property that used RealPage’s Revenue Management Solutions, including Lease Rent Options (LRO), YieldStar (YS) or AI Revenue Management (AIRM), between Oct. 18, 2018, and Nov. 21, 2025, you may be eligible to claim a share of a $359.93 million class action settlement.

RealPage Inc. and dozens of large property management companies have agreed to pay $359,925,000 to settle a class action lawsuit. The plaintiffs alleged that these companies conspired to fix and inflate the price of multifamily rental housing across the United States and its territories by sharing sensitive pricing data and using RealPage’s software to coordinate rental prices.

Who can file a claim for a settlement payout?

Class members must meet the following criteria:

• They paid rent on at least one multifamily residential real estate lease directly to any owner, manager or owner-operator, including divisions, subsidiaries, predecessors, agents or affiliates of these entities.
• The property where they rented was subject to a license for RealPage’s Revenue Management Solutions (RMS), which includes Lease Rent Options (LRO), YieldStar (YS) and/or AI Revenue Management (AIRM).
• Their rental period was any time between Oct. 18, 2018 and Nov. 21, 2025.
• They paid rent directly to the property owner, manager or operator and not through a third party.

Each individual who paid rent directly can submit a claim for their portion of the rent. If multiple people paid rent for the same unit, each must file separately for their share.

The list of settling defendants is on page one of the official class action notice. To confirm if their property is eligible, claimants can also search the Property List on the official settlement website. Even if their building is not on the list, they may still submit a claim for consideration.

How much are settlement payments?

Pro rata cash payment: Class members can submit a claim to receive a pro rata cash payment from the net settlement fund, according to the plan of allocation. The final payment amount will be determined by the estimated rent overcharge percentage, total rent paid during the qualifying period and the total number of claims filed.

How to claim a class action rebate

To claim a settlement payment, class members can file a claim online or print the PDF claim form to complete and mail to the settlement administrator.

Settlement administrator's mailing address: RealPage Rental Software Litigation, Settlement Administrator, Attn: Claim Forms, P.O. Box 119, East Brunswick, NJ 08816-9998

The claim deadline is Jan. 29, 2027.

Required proof and claim information

• The mailing address for each eligible property is required on the claim form.
• Claimants must provide supporting documentation showing they paid rent directly to an owner, manager or owner-operator on the property list at any time during the class period. The documentation must show the month and year during the lease period. Acceptable documentation includes:
• Lease agreements
• Proof of renter’s insurance
• Rent renewal letters
• Rent ledgers from landlord/portal
• Official move-in/move-out statements
• Payment confirmations from a resident portal
• Bank statements showing rent payments (with unrelated lines redacted)
• Canceled checks
• Money order receipts
• Other information showing rent payment at the address listed on the claim form

• Claimants that have experienced a name change since they rented a qualifying property, due to marriage, divorce or other reason, must include supporting documentation showing the legal name change. This may include a marriage certificate, divorce decree, court order, updated government issued ID or other proof that connects the prior name to the current name.

Payout options

• PayPal
• Venmo
• Zelle
• Virtual prepaid card
• Paper check mailed to the address provided

Settlement fund breakdown

The $359,925,000 settlement fund will include:

• Settlement administration costs: To be determined
• Attorneys' fees: Up to $119,975,000 plus expenses and costs
• Service awards to class representatives: To be presented to the court for approval at a later date
• Payments to approved claimants: Remaining settlement funds

Important dates

• Deadline to opt out: Sept. 1, 2026
• Fairness hearing: Oct. 15, 2026
• Deadline to file a claim: Jan. 29, 2027

When is the RealPage rental software antitrust settlement payout date?

Payments will be issued to approved claimants after the court grants final approval of the settlement and all claim processing is complete.

Why was there a class action settlement?

The class action lawsuit alleged that RealPage Inc. and several large property management companies conspired to fix and inflate the price of multifamily rental housing by sharing nonpublic data and using RealPage’s revenue management software to coordinate pricing. Plaintiffs claimed that this conduct violated federal and state antitrust laws, causing renters to pay higher rents and reducing rental options.

The defendants denied the allegations, however agreed to settle to avoid the risk and expense of continued litigation and a possible trial.

Sources

1. Class notice
2. Settlement website FAQ page
3. Official claim form
4. Plan of allocation