New York A11490 prohibits dynamic pricing, algorithms, and automated pricing tools in the sale or rental of residential units, and bans owners from.
New York A11490 amends the real property law to prohibit dynamic pricing, algorithms, and automated pricing tools in the sale or rental of residential units. It also prohibits the use of online real estate auction platforms for rental units if the owner has a direct or indirect ownership interest in the platform. Additionally, it mandates that any real estate auction platform post a disclaimer alerting bidders that shill bidding is illegal under New York state law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.