Rent Going Up? One Company’s Algorithm Could Be Why.
Some have complained high-paying tech jobs have driven up rents in major tech hubs — creating an exodus that will later drive up rents in other cities.
But ProPublica asks whether there’s another technology at work:
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 conventiongoers wandered by.
