NASHVILLE, Tenn. (WSMV) - Tennessee Attorney General Jonathan Skrmetti announced the state has joined a settlement with a property management company accused of artificially increasing rent prices through “anticompetitive practices.”

Skrmetti said that he joined the multistate settlement with Greystar Management Services, LLC, which was reached in August.

The AG shared that a bipartisan coalition investigated the company for its alleged participation in an algorithmic pricing scheme.

The coalition alleged that by sharing supply and pricing data with competitors, rental prices were inflated and aligned to reduce competition in the multi-family housing market.

“Greystar manages nearly 950,000 rental units nationwide, including more than 6,000 in Tennessee. This settlement represents one

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