Equity Residential purchased Portside Towers in 2019. A group of renters in the U.S. say their landlords are using software to deliver inflated rent hikes. Renters told CNBC they discovered how revenue management software is used in real estate after reading a 2022 ProPublica investigation. Equity Residential investor materials show that the company started to experiment with Lease Rent Options between 2005 and 2008. Equity Residential and other defendant landlords declined to comment on ongoing RealPage litigation.

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Persons: RealPage, District of Columbia Brian Schwalb, We've, Kevin Weller, There's, Jeffrey Roper, Thoma, Thoma Bravo, Harry Gural, Gural, we're, Mark Parrell Organizations: Washington , D.C, District of Columbia, CNBC, Equity Residential, Towers, World Trade, RealPage, U.S . Department of Justice, Equity, U.S, Thoma Bravo, U.S . Locations: Washington ,, RealPage, Jersey City , New Jersey, Portside, U.S, Miami, Van Ness, Jersey City, Atlanta, Austin , Texas, U.S . East