Prohibits agreements among residential rental property owners or managers to not compete, including through software or algorithmic devices.
New York S07882 amends the general business law to prohibit knowingly or recklessly facilitating agreements among residential rental property owners or managers to not compete. This includes agreements facilitated by software, data analytics services, or algorithmic devices performing a coordinating function. Such devices are defined as those that collect, analyze, and recommend rental prices or lease terms. The act also prohibits rental property owners or managers from setting or adjusting lease terms based on recommendations from these devices.
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