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San Fran Shuts Down Rent-Boosting Software
alt=”San Fran Going to Ditch Rent-Boosting Software Algorithms – GadgetLad”
RealPage and Yardi: Rent Increase Instigators
alt=”RealPage and Yardi algorithms under scrutiny – GadgetLad”
So, here’s the deal. The San Francisco Board of Supervisors has reached their limit with RealPage and Yardi, the proper cheeky blokes who’ve been utilizing algorithms to inflate rents. They’ve finally put a stop to these shady softwares that contribute to the soaring rental prices. Aye, it was high time!
What’s an Algorithm, Anyway?
alt=”Understanding rental algorithms – GadgetLad”
For those not in the know, an algorithm is akin to a formula for whipping up a digital Geordie pie. Except this pie has turned foul and is messing with tenants by rendering rents unmanageable. These softwares claim to assist landlords in maximizing profits, but all they do is mock renters.
Board of Supervisors to the Rescue
alt=”Decision by San Francisco Board of Supervisors – GadgetLad”
The San Francisco crew anticipates this action will help stabilize rents and make them more equitable. They aim to prevent landlords from exploiting individuals who are already battling to keep a roof over their heads. It’s a smart move in my opinion; someone’s finally taking charge.
RealPage’s Shady Defense
alt=”RealPage’s reaction to ban – GadgetLad”
RealPage isn’t exactly thrilled about this, unsurprisingly. They argue their software aids landlords and that they’ve become a scapegoat. Aye, give me a break, mate. Clearly, they’ve never experienced living paycheck to paycheck just to cover rent.
Housing Advocates Cheer
alt=”Housing advocates endorse algorithm ban – GadgetLad”
Housing advocates are giving it the green light, calling it a victory for tenants. At last, some good news for the underdog! Now, if only the rest of the globe would wise up – maybe I’ll be able to lease a flat in Newcastle without having to part with me gran’s tea set.
Automated price manipulation messing with tenants? Jog on!
The San Francisco Board of Supervisors this week sanctioned a prohibition on algorithmic price determination in the rental housing sector, a measure aimed at real estate management software from the likes of RealPage and Yardi that has been partly blamed for exorbitant rents.
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