-The plaintiff accuses Yardi Systems Inc. and 18 property management companies of having orchestrated a nationwide scheme to illegally drive rent growth to unprecedented levels during the pandemic.
-The lawsuit was filed on behalf of a group of tenants who claim they were forced to pay illegal late fees, among other things.
-The lawsuit is seeking class-action status.
You can read this full article at: https://www.housingwire.com/articles/yardis-rent-setting-software-illegally-drove-rent-prices-up-for-millions-of-renters-lawsuit/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.