Rossen Reports: How AI may be driving up your rent
AI-driven software is being blamed for skyrocketing rent prices, with telltale signs and tips on how renters can protect themselves.
AI-driven software is being blamed for skyrocketing rent prices, with telltale signs and tips on how renters can protect themselves.
AI software may be behind the sharp rise in rent prices, and renters can take steps to fight back.
The average rent increase per year is 2 to 5 percent, but some tenants are seeing much higher hikes, possibly due to AI pricing algorithms.
Odd lease term lengths, like six or eight months with varying prices, are a red flag. One tenant reported a $699 increase for a six-month extension and $786 for eight months.
If your rent goes up without new amenities or improvements, it could be AI-driven rather than based on market conditions.
AI software aims to create "uniform pricing effects," eliminating competition and keeping prices artificially high.
Some cities are beginning to ban this practice, and the Department of Justice, along with eight states, has filed a lawsuit accusing an AI software company of illegal price-fixing.
If you suspect AI is inflating your rent, file a complaint with the U.S. Department of Housing and Urban Development.