Tennessee Attorney General Jonathan Skrmetti announced a $7 million settlement today with property management firm LivCor, LLC, following allegations that the company used algorithmic software to artificially inflate apartment rents across the state.

The settlement stems from a massive, bipartisan antitrust lawsuit led by the U.S. Department of Justice (DOJ) and a coalition of nine states. The suit alleges that RealPage’s rent-pricing software allowed competing landlords to pool confidential, nonpublic data to manipulate housing prices and eliminate market competition.

“Tennessee renters deserve a housing market driven by competition—not by secret agreements and shady algorithms that raise prices for everyday families,” Attorney General Skrmetti said in a statement. “This settlement holds LivCor accountable and sends a clear message that companies doing business in Tennessee have to follow the law.”

Pending court approval, the $7 million agreement requires LivCor to make significant operational changes:

• Software Ban: LivCor must immediately cease using any rent-pricing software that relies on nonpublic, competitive data.

• State Cooperation: The company has agreed to assist states with their ongoing investigation and litigation against remaining defendants.

• Compliance Upgrades: LivCor must strictly reinforce its internal antitrust compliance practices.

The settlement hits close to home for many Tennesseans facing ongoing housing affordability crises. LivCor managed roughly 1,200 apartment units across the state that utilized the controversial RealPage software.

This marks Tennessee’s second major victory against algorithmic rent-fixing. The state reached a similar settlement in November with Graystar, another major property management company accused of utilizing RealPage’s revenue management systems to manipulate the market.

While LivCor has agreed to step away from the software, the legal battle is far from over. The broader lawsuit continues against RealPage and three other major property management giants: Camden, Pinnacle, and Willow Bridge.

Tennessee secured the settlement alongside a coalition of attorneys general from California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, North Carolina, and Oregon.