San Francisco is now the first city in the nation to ban the use of a type of software that large landlords use to set rental prices.
The San Francisco Supervisors voted unanimously on the issue Tuesday night. This new law focuses on a very specific type of software, commonly used by large property owners, and companies that own large apartment complexes to determine the cost of rent or whether to rent out their units at all to keep supply low and demand high.
"In the old days, collusion between competitors happened in a smoke-filled backroom," Peskin said at the board meeting. He added that the ban aims to curb a "new form of price fixing," and in doing so lower rents and bring more apartments onto the market.Some of the companies that make this price-setting software are RealPage and Yardi system. RealPage already has a four-page document on its website defending itself from these claims.
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