O
n Monday, Aug. 26, 2024, a “For Rent” sign was photographed in Denver (AP/Jenny Kane).

    Colorado, together with eight other states, has proposed a settlement with Greystar Management Services LLC—one of the nation’s largest apartment operators—to address claims that the company engaged in a rent‑inflation scheme that violates antitrust law.

    The lawsuit, filed in January, alleged that Greystar and other top managers used algorithmic pricing tools to exchange confidential rental data, enabling them to set rents in lockstep across markets such as Denver instead of independently.

    “Coloradans are struggling to pay monthly rent. When corporate landlords share private data and use algorithms to coordinate and jack up rent prices, renters pay the price,” said Attorney General Weiser.

    If the settlement is approved, Greystar will pay $7 million to California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, North Carolina, Oregon, and Tennessee, and will face strict limits on its use of rent‑setting algorithms and data‑sharing platforms. The company will also be barred from using revenue‑management software that relies on nonpublic, competitively sensitive data from other landlords.

    Greystar manages assets worth over $79 billion and generated more than $10.3 billion in revenue in 2025, according to Miracuves.

    Colorado will receive over $1 million from the settlement to fund antitrust enforcement, consumer protection, and related investigations.

    “We aim to restore fair competition in the housing market and protect renters from coordinated pricing schemes,” Weiser said, noting the partnership’s ongoing statewide impact.