Building owners and property managers will no longer be able to use algorithm-based software to artificially inflate New Yorkers’ rents as a result of a bill signed into law by Gov. Kathy Hochul on Thursday.

The new legislation updates the state’s antitrust laws to include the algorithmic software and comes after the U.S Department of Justice filed a lawsuit against RealPage, a company that uses algorithms to analyze public and private rental data — including vacancies and lease renewal rates — in order to give landlords and property managers price recommendations.

The Council of Economic Advisors estimated that price-fixing algorithms cost renters nationwide $3.8 billion more in inflated rents in 2023.

The new legislation is “a win for every New Yorker who is struggling to make end

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