The North Carolina Attorney General has moved to court suing some big corporations for rental matters. The lawsuit which is now known as the North Carolina rent lawsuit pits some of the biggest companies in the North Carolina region against the Attorney general. This text takes a look the details of the North Carolina rent lawsuit and brings to light some of the key details about the suit and the progress of the lawsuit so far. Some of the details you are going to find in the lawsuit include who the plaintiffs in the lawsuit are, the defendants and the serious issues likely to influence the outcome of this case.
The Main Allegations in the North Carolina Rent Lawsuit
There are many allegations in the North Carolina Rent Lawsuit fronted by the Attorney general. These allegations include the following:
Rent Collusion Allegation
The first allegation in the North Carolina Rent lawsuit is the issue of the rent collusion. On this issue the Attorney General accuses six big rental companies in the North Carolina region of colluding to increase the rental prices of the properties they own in the North Carolina region. This according to the Attorney general is very wrong and constitutes exploitation by these companies to their tenants and other clients. This is why he is moving to court to have these companies face legal accountability.
The RealPage Software
Apart from inflating rent in the properties they own, the North Carolina Attorney General also accuses the six aforementioned companies of yet another sensitive data. On this one, the Attorney general accuses the said companies of something called the RealPage Software where the companies are accused of using the RealPage software a real estate property management software to share some sensitive data belonging to clients.
It is believed that the said companies used this information to coordinate their rent increase plans. The Attorney general through his affidavit in court claimed that the companies involved in this conspiracy used this software to advance their scheme of increasing the rent of their properties against the wishes of their tenants.
Anti-Competitive Practices Allegations
The Attorney general accuses the six rental companies mentioned above of grave anti-competitive practices where the six companies are accused of doing using the Real Page software to coordinate their scheme of obtaining client algorithms which acted in great violation of the anti-trust laws and also resulted in the elimination of fair competition in the rental business.
The Companies Involved in the North Carolina Rent Lawsuit
The Attorney general of North Carolina is accusing six companies in the region of North Carolina of conspiracy to increase rent in their regions. The companies involved in the lawsuit are as follows:
Blackstone’s LivCor LLC
Camden Property Trust
Cushman & Wakefield Inc.
Pinnacle Property Management Service LLC
Greystar Real Estate Partners
Willow Bridge Property Company
The Current State of the North Carolina Rent Lawsuit
The North Carolina Rent Lawsuit is one of the latest lawsuits that have come up in recent times touching on affordable housing. The lawsuit is coming at a time when many people are finding it difficult to afford basic housing in the region of North Carolina and other areas around it. Thus, for companies to conspire to increase the rent of the properties they own constitutes a serious crime one which the Attorney General of North Carolina could not condone.
The lawsuit has just been filled and a lot about it is yet to come. At this point it is not clear if the companies involved will mount a single defence putting all of them together or they will each mount a separate defence against these allegations.
The Response of the Defendants in the North Carolina Rent Lawsuit
The Attorney general of North Carolina has fronted some serious allegations against the six companies mentioned above who have been accused of unlawfully increasing rent in their properties which resulted in exploitation of their tenants. However, despite all these allegations from the Attorney general, these companies are yet to come forward and give a serious response to the allegations levelled against them.
They are yet to deny or accept anything though it is not clear whether it will remain this way all through the lawsuit. One possibility is that the aforementioned companies will put forward a joint statement at the right time obviously refuting the allegations against them. It is also possible for the two conflicted parties to come together and agree on an out of court solution. Such a solution might involve the companies agreeing to reduce their rent on the highlighted properties or even compensating the people who have already paid more than what they should be paying in rent.
Conclusion
The North Carolina Rent Lawsuit is one of the latest lawsuits that seek to put breaks on how property owners manage rent affairs between them and their clients. It is also one of the latest that shows the government’s determination to protect its citizens from over exploitation from their landlords by consistently hiking their rent.