‘Such conduct is illegal and will not be tolerated in Colorado:’ rental company facing lawsuits from Colorado Attorney General and the Department of Justice

DENVER, Colo. (KKTV) – One of the largest rental companies in the country is facing two separate lawsuits, including from Colorado’s Attorney General, Phil Weiser. He says Greystar Real Estate Properties is charging local tenants hidden fees.

Greystar says these accusations are not true. Another federal lawsuit accuses Greystar of coordinating with other property management companies to manipulate rent. Greystar also denies these claims.

“Whether you are working at a restaurant or grocery store or you’re a teacher or a nurse it is too expensive to live in our communities and specifically we’re feeling that impact in terms of housing,” Denver-area lawmaker Javier Mabrey said.

Mabrey says his proposal prevents two or more landlords from coordinating rent prices. It specifically bans any software that allows landlords to share information. Something that the Department of Justice has already banned.

“Coloradans need to know that landlords have been using a technology that the Department of Justice thinks is illegal to do illegal collusion in the rental market,” Mabrey said.

In a lawsuit announced earlier this month, the Department of Justice alleged that Greystar, which operates several locations in Colorado Springs, allegedly that software.

In a statement, Greystar says:

“Greystar has and will conduct its business with the utmost integrity. At no time did Greystar engage in any anti-competitive practices.” (FULL STATEMENT HERE)

The FTC and Colorado Attorney General Phil Weiser are also suing Greystar, Saying they deceptively advertised rent prices, and then charged hidden fees.

Weiser claims the alleged tactics are spreading to other rental companies saying in part:

“Other corporate landlords are not advertising their all-in pricing and are engaging in similar tactics, they are on notice that such conduct is illegal and will not be tolerated in Colorado.” (FULL STATEMENT HERE)

Greystar responded to the accusations by Weiser and the FTC saying in part:

“The idea that this is done with the goal of hiding fees from consumers is patently false. No resident at a Greystar-managed community pays a fee they have not seen and agreed to in their lease.” (FULL STATEMENT HERE)

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