- cross-posted to:
- news
- cross-posted to:
- news
- A group of lawsuits accuse large landlords of price-fixing the market rate of rent in the United States
- A complaint filed by Washington D.C.’s Attorney General alleges 14 landlords in the district are sharing competitively sensitive data through RealPage, a real estate software provider
- RealPage recommends prices for roughly 4.5 million housing units in the United States
- RealPage told CNBC that its landlord customers are under no obligation to take their price suggestions
A group of renters in the U.S. say their landlords are using software to deliver inflated rent hikes.
“We’ve been told as tenants by employees of Equity that the software takes empathy out of the equation. So they can charge whatever the software tells them to charge,” said Kevin Weller, a tenant at Portside Towers since 2021.
Tenants say the management started to increase prices substantially after giving renters concessions during the Covid-19 pandemic.
This is essentially the same way that my employer sets pay ranges.
They send a list of job titles and descriptions to an outside company along with the number of employees and how much each of those employees are paid. Lots of other employers send their info and the outside company tries to match up all the job descriptions and then sends back to all of the employers what the “market range” is for every job.
My employer then decides where in that range they think is “competitive” (hint: its near the bottom). That’s the amount HR and Finance are willing to approve when hiring someone into a role, regardless of experience. The wages are only “competitive” if every other employer goes along with the scheme and offers the same amount.
My (former) job did that. The firm they hired just flst out omitted every regional job equivalent that paid higher, and kept their scope narrowed to places that paid at least $10k less a year. They then recommended pay cuts everywhere, which mostly amounted to cutting enough labor costs just enough to pay for the contract that did the research.
I took it as a sign to start applying elsewhere: glad I did.
Competitive wages is jargon for “We’ll pay you you the least possible amount of money. It’s competitive for us.”
Edit: Spelling is important.
In the U.S. (not sure if this is elsewhere) you have the work number too. Employers that participate share every pay period and bonis to your record. Then future employers can look up and see exactly how much you were making when they run the background check.