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Judge Blocks NY Rent Algorithm Ban
30 Sep
Summary
- A federal judge halted New York's law against rent algorithmic pricing tools.
- The law aimed to prevent landlords from inflating residential rents.
- Software provider RealPage argued the law violated free speech rights.
A federal judge in Manhattan issued a preliminary injunction on Tuesday, blocking New York state's enforcement of a new law. This pioneering legislation aimed to prohibit landlords and real estate professionals from utilizing algorithmic pricing tools that could potentially inflate residential rents.
The lawsuit was brought by RealPage, a software provider owned by private equity firm Thoma Bravo. RealPage contended that the law infringed upon its First Amendment free speech rights by restricting the use of its software's pricing recommendations. US District Judge Valerie Caproni ruled in favor of RealPage, granting the injunction against the state's controversial law.
