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14 big landlords used software to collude on rent prices, DC lawsuit says (arstechnica.com)

submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world

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14 big landlords used software to collude on rent prices, DC lawsuit says::Suit claims employees were told pricing outside the algorithm was "unacceptable."

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[–] PeleSpirit@lemmy.world 79 points 10 months ago (2 children)

I hope people understand how this drives up rent prices in your area, it's insane. They're price fixing.

[–] agent_flounder@lemmy.world 53 points 10 months ago (4 children)

Theoretically that is illegal.

Penalties for this should be severe. Like, impounding company assets and destroying them.

[–] plz1@lemmy.world 30 points 10 months ago

The fine of 1% of last quarter’s profits will ensure they learn their lesson.

[–] onion@feddit.de 18 points 10 months ago

Turn their properties into a coop and give the shares to the tenants

[–] psycho_driver@lemmy.world 7 points 10 months ago

Take one of the owner's private jets away.

[–] Rubanski@lemm.ee 7 points 10 months ago

Corporate death penalty

[–] buzz86us@lemmy.world 12 points 10 months ago

Yup I got hit with this nonsense.. Right during the pandemic when I had no money.. $525->$800