Competition Bureau should probe potential rent price fixing: minister
Global News
Canada's Industry Minister Francois-Philippe Champagne wants the Competition Bureau to use the Competition Act to look into the 'use of algorithmic rising in the rental market.'
Canada’s industry minister is calling on the Competition Bureau to probe whether Canadian landlords are using AI software in alleged rent-fixing schemes.
Francois-Philippe Champagne’s call comes a day after the CBC reported on the use of a software called YieldStar by some corporate landlords.
In a letter to Competition Bureau Commissioner Matthew Boswell, Champagne urged him to use tools within the Competition Act to look into the “use of algorithmic rising in the rental market.”
“I want to draw your attention to recent revelations of possible price fixing in the rental market by landlords who use technologies like YieldStar,” Champagne wrote. “These technologies set prices that can be higher than naturally competitive prices.”
Champagne’s call is not the first urging the bureau to take action, with the NDP making a similar request in September following an antitrust lawsuit filed in the U.S.
In August, the U.S. Justice Department filed a suit against real estate company RealPage Inc., which owns YieldStar, accusing it of an illegal scheme that allows landlords to coordinate to hike rental prices.
The suit alleged the company was violating antitrust laws through its algorithm that landlords use to get recommended rental prices for millions of apartments across the country.
Reports by The Canadian Press and CBC cited statements from the company denying the allegations made by American law enforcement.
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