There seems to be a great deal of new content hitting the wires in multifamily right now. Conference season is in full swing, bringing a surge of new ideas and perspectives. There are several topics that are top if mind that will be appearing in these pages this fall. But I'm particularly excited about a series of new podcast interviews will be released over the next few weeks.
The series is about multifamily revenue management and in particular, the matters surrounding the lawsuits and new legislation relating to “algorithmic pricing.” I have been writing more frequently lately on this topic, as I have believed for some time that there is a lack of quality information and discussion in this area. That is not surprising: this is a sensitive matter, but that doesn’t mean we shouldn’t talk about it.
Filling gaps in our understanding
With that in mind, I have assembled a group of five experts for a series of in-depth conversations about the state of lawsuits, legislation, and government regulation, and their potential impact on technology environments. Here's a preview of the conversations which will be published on the 20for20 podcast feed:
First, a general counsel (GC) explains both the private class action lawsuits that have been ongoing for nearly two years and the DOJ lawsuit that emerged in August. It's important to grasp the differences between these cases, and this GC helps us understand their distinctions and potential legal implications for the industry. I hope listeners find this as helpful as I did to hear a GC explain the sections of the Sherman Act (the piece of federal law that governs antitrust), and how it relates to the various legal complaints.
Next, I interview an economic consultant who is a former regulator and lecturer in antitrust law. The conversation focuses specifically on the DOJ lawsuit and, importantly, upon the legal rationale being applied. The DOJ, like all government agencies, functions as an organ of public policy. The nature of the legal arguments being presented in the complaint helps us to understand what the agencies aim to achieve.
As I mentioned previously, the DOJ lawsuit has some unsettling implications that extend far beyond revenue management and even the multifamily industry. As this interview explains, in pursuing the case in the way it has outlined, the DOJ seems to be asserting significant new powers with potential implications that reach well beyond revenue management.
The technology angle
Next, two different technology CEOs provide their perspectives on how this lawsuit might impact the broader technology environment. One discusses the nature of our data environments, the level of industry collaboration, and the concerns about the extensive regulatory power the DOJ appears to be seeking. Our industry is becoming more collaborative, more AI-enabled, and data environments are getting more complex – we should consider the ramifications for technology.
The second tech CEO conversation offers a chance to rethink our approach to competitor data. As I've previously written, there's a significant risk of companies learning the wrong lesson from recent developments, especially from the San Francisco and DOJ developments in recent months. There has been a lot of talk about switching RM vendors to be compliant, but that is the wrong way to look at this matter. Now is a good time to return to first principles to consider why we need competitive data in the first place. That is a great and important conversation and I expect many will be surprised by the insights it yields.
The last conversation is with a senior lobbyist from an apartment association – a crucial and perhaps sometimes under-appreciated layer of our industry’s advocacy. This conversation benefits from an in-depth understanding of recent legislative efforts to ban revenue management. We'll explore how these initiatives develop, how they are executed, and what property management companies can do to counter this unhelpful legislation.
The podcasts will be released from next week onwards and will run through late October. If you have any suggestions on other experts I should interview, please reach out. Remember, the focus this season is not on understanding any company's corporate stance but on grasping the context in which these laws and litigation are unfolding and their potential impact on our industry. To hear the broadcasts, follow Tech Talk with 20for20 wherever you get your podcasts, and feel free to get involved by sharing your views on the conversations whenever you hear them!
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