Attorney General Skrmetti Announces $7 Million Settlement with LivCor Over Rent-Pricing Manipulation

Attorney General Skrmetti Announces $7 Million Settlement with LivCor Over Rent-Pricing Manipulation

Tennessee Attorney General Jonathan Skrmetti today announced a $7 million settlement with property management company LivCor, LLC, over allegations that it participated in a scheme that used RealPage's rent-pricing software and competitors' confidential data to increase apartment rents.

The settlement is part of a bipartisan lawsuit brought by the U.S. Department of Justice and nine states against RealPage and several large property managers. Subject to court approval, LivCor has agreed to stop using rent-pricing software that relies on competitors' nonpublic pricing information, cooperate with the states' ongoing case, and strengthen its antitrust compliance practices.

"Tennessee renters deserve a housing market driven by competition-not by secret agreements and shady algorithms that raise prices for everyday families," said Attorney General Skrmetti. "This settlement holds LivCor accountable and sends a clear message that companies doing business in Tennessee have to follow the law."

LivCor managed approximately 1,200 apartments in Tennessee that used RealPage's pricing software. Housing affordability remains a major concern across the state.

The lawsuit against RealPage and the remaining property management companies-Camden, Pinnacle, and Willow Bridge-continues. In November, Tennessee similarly settled with Graystar for their participation in an algorithmic pricing manipulation using RealPage revenue management software.

Tennessee joined attorneys general from California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, North Carolina, and Oregon in securing the settlement.

Read the settlement.