Pinnacle Property Management reaches DOJ settlement over rent pricing algorithms

The U.S. Department of Justice has reached a proposed settlement with Pinnacle Property Management Services to prevent the Texas-based company from using competitors’ sensitive data to set rents. Under the proposed consent decree, Pinnacle would be barred from using pricing algorithms built on nonpublic information from rivals, sharing sensitive data with competitors, or participating in meetings hosted by RealPage that involve competing landlords.

The settlement is part of a broader federal antitrust case involving RealPage and several large property managers. Prosecutors allege that landlords used RealPage’s pricing algorithms to share competitively sensitive information regarding rents, occupancy, and lease terms, effectively coordinating pricing strategies rather than competing in the market.

If approved by a judge, the decree will also require monitoring if Pinnacle utilizes uncertified third-party pricing tools and mandates cooperation in the government’s ongoing legal actions. The agreement remains subject to a 60-day public comment period and a court finding that the judgment serves the public interest.