Big Tech Algorithm Helps Corporate Landlords JACK UP Rents

"On a summer day last year, a group of real estate tech executives gathered at a conference hall in Nashville to boast about one of their company’s signature products: software that uses a mysterious algorithm to help landlords push the highest possible rents on tenants.

“Never before have we seen these numbers,” said Jay Parsons, a vice president of RealPage, as convention goers wandered by. Apartment rents had recently shot up by as much as 14.5%, he said in a video touting the company’s services. Turning to his colleague, Parsons asked: What role had the software played?

“I think it’s driving it, quite honestly,” answered Andrew Bowen, another RealPage executive. “As a property manager, very few of us would be willing to actually raise rents double digits within a single month by doing it manually.”

***

The largest online progressive news show in the world. Hosted by Cenk Uygur and Ana Kasparian. LIVE weekdays 6-8 pm ET.

If you want to watch more videos from TYT, consider subscribing to other channels in our network:

#TYT #TheYoungTurks #BreakingNews

221019__TA01

[intrinsicallylast]

In other words they figured out that people would rather pay double their rent than be _homeless._
These people are the devil.

[lovelydaye]

I've been telling people about this for a while now. Thank you for the facts and bringing this to light!

[Alex-shst]

Landlords should be taxed heavily for empty homes.

[theedgeofoblivious]

We really need to have laws that neither humans nor corporations can own more than one inhabitable building in any city or town.

[Code_Dee]

Landlords should be taxed highly for every vacant unit they have, to incentivize making units affordable and appealing to renters.

[meterdoogles]

There is no "market" people either choose between being extorted for rent or being homeless. These people are disgusting. Late-stage capitalism is becoming a crime against humanity.

[Ramonafloyd]

There is no housing shortage its the overpricing of houses.

[cdejewel]

Ima landlord. Bought after 2008 crash. I keep my rents low. People stay with me and take care of the property. I do see how difficult and expensive it has become. It’s hard for people. Corporate landlords are in my area and buying up everything.

[kaskus]

If you own apartment buildings and you actively choose to not rent them out, then you don't get to bitch about homeless people. You are literally the reason they are homeless.

[benjaminnunes]

That is upsetting to find out, in The area I'm in these same landlords complain about homelessness yet hike the prices so high no one can afford it

[charlievish]

As a former Greystar employee, it's way worse. I'm working with HUD and CHFA currently for the slew of housing violations they committed on the property I worked at.

[reachandler]

So those tenants who pay the overinflated rents are actually paying for 2+ apartments but only allowed to use 1?!

[annettezaleski]

Don't forget they're also buying the mobile home parks land!! Then raising the monthly rent of the land under ppl who mostly already own, or are buying their mobile homes already, by a lot!! It's just INCREDIBLE what's going on right now!

[mistermoo]

Capitalists have declared War on Humanity

[Stormgryph]

This is why we need the Glass-Steagall Act back.

[imzadifanvids]

Not surprised. This is why a lot of retail spaces are empty. A lot of small businesses have gone out of business because they can't make rent. So you'll see a shopping center that's mostly empty except for a big name grocery store that can pay enough in rent the owners of the center don't care.

Both sides of the aisle claim they support small businesses, but refuse to do anything to help them out.

[blueeyedchippewa]

There is a sickness in people who think this is ok... 😢

[theresagarcia]

This is disgusting and should be illegal- it is clearly price fixing smh!

[HM-ujud]

If these people involved don’t see prison time I don’t want to live in this world anymore

[KimJungGooner]

Eventually these landlords are all gonna go out of business because nobody except the rich will be able to afford the rent. Of course, someone who can pay 6, 000 dollars a month is more likely to just buy their own house to live in.