Alleged rent increase plan linked to Atlanta under investigation

ATLANTA — Federal investigators with the U.S. Department of Justice are investigating an alleged price-fixing scheme aimed at driving up rents. Court documents describe the system that relies on a software algorithm to create a “new frontier that poses an even greater anticompetitive threat.”

Torrin Strong is no stranger to coping with the higher costs of rent.

Strong told 11Alive he does everything he can to pay his rent each month. He lives in northwest Atlanta and pays nearly $1,700 a month for a two-bedroom apartment. Strong said he’s paying about $500 more than he did less than four years ago.

“I do Lyft, Instacart, DoorDash, I cut grass, I wash cars, I do everything,” Strong listed.

“The rent is up right now, it’s pretty high. Everyone wants more than I’m paying right now, because I need more rooms now,” he added. “The cost of living in Atlanta is crazy, and I’m from here.”

11Alive confirmed Thursday that agents from the Federal Bureau of Investigation’s Atlanta office conducted what they called “court-authorized activities” at Cortland’s Atlanta office in Buckhead last month.

Cortland owns more than 80,000 homes and apartments nationwide.

In a statement, the company confirmed that the FBI executed a limited search warrant as part of an ongoing U.S. Department of Justice investigation into potential antitrust violations in the multifamily housing industry.

Cortland said it is fully cooperating with the investigation, adding “we understand that neither Cortland nor any of our employees are ‘targets’ of this investigation. Due to ongoing litigation, we cannot comment further For now.”

While Realtor.com has tracked a 4% drop in rents in Atlanta over the last year — representing one of the largest declines in rent prices in the country — Torrin Strong just wants accountability continues and the downward trend continues.

“There’s not this kind of job that allows me to pay a decent wage to be able to take care of my family the way I want to for real,” Strong said. “It cost me dearly.”