The impact of such practices is starkly evident in Atlanta, where 81% of multifamily rental unit prices are set using software, and rents have skyrocketed by 80% since 2016. This price surge has occurred despite increasing vacancy rates, which would typically lead to lower rents. The adoption of RealPage’s pricing recommendations by numerous landlords between 2015 and 2017, followed by RealPage’s acquisition of its main rival Lease Rent Option in 2017, has given it unparalleled control over rental pricing.
We need to tax vacancies as heavily as possible (or, ideally, seize vacant units).
