Let me tell you a story, if you have a moment.
There's a property management company called Greystar — they're the biggest landlord in the entire country, managing nearly a million rentals.
Greystar used RealPage, which is software that lets landlords quietly coordinate on rent prices. RealPage then uses an algorithm to align those prices — eliminating competition and leaving tenants with no choice but to pay up.
That's against the law.
It's expensive enough to find housing without landlords colluding to drive up prices — and when companies unlawfully fuel this unaffordability crisis, I will hold them accountable.
In California, more than 17 million people spend huge portions of their income on rent, and more than 700,000 of them are at risk of eviction. The stakes are high.
Today I'm proud to announce that we've secured a $7 million settlement with Greystar for their part in this rent alignment scheme — and we're forcing them to stop using any rent-setting software in the future.
Whether it's a Big Landlord, Big Pharma, or Big Oil, I won't look the other way while corporations rig the system at the expense of Californians.
My job is to protect Californians — your pocketbook, your rights, and your future. I'll use the full force of my office to hold schemers and fraudsters accountable, but I can't do it on my own.
I need your help to keep this fight going, so I'm coming to you. If you can, will you chip in today to help us keep taking on powerful corporations and winning?
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