Filing follows tenant complaints alleging corporate landlord used dynamic pricing software in violation of city law
Providence, RI – Today, at the direction of Providence City Council President Rachel Miller (Ward 13), the City of Providence filed its first-ever enforcement action alleging a violation of the citywide ban on rent-setting algorithms. The complaint alleges that Audubon Capital Partners, LLC engaged in the coordination of rental prices through an algorithmic device in violation of Chapter 13, Article X, Section 13-70 of the Providence Code of Ordinances. The complaint, filed in Municipal Court, seeks a $500 per day penalty and comes just one week before the one-year anniversary of the Council’s passage of the algorithm ban.
The enforcement action concerns 95 Lofts, a building in the Jewelry District acquired by the Boston-based private equity real estate firm in January. In March tenants submitted complaints and documentation to members of the Providence City Council, including lease renewal offers showing dramatic rent increases across different lease terms and written communication from property management stating that “lease rates are generated through a dynamic pricing system that evaluates several factors, including market conditions and the number of expected vacancies during a specific timeframe. In some cases, the software may price certain lease terms higher if a larger number of apartments are projected to become available in that particular month.”
“The City Council passed this law to prevent bad corporate behavior and protect residents,” said Council President Rachel Miller. “Corporations cannot be allowed to hide behind software while they squeeze tenants for maximum profits, manipulate the housing market, and drive rents higher in a city where working people are already struggling to stay in their homes. I’m proud that Providence is taking action to enforce the protections this Council put in place.”
Tenant complaints submitted to the Council alleged that, after Audubon Capital Partners acquired 95 Lofts, residents received renewal offers with steep rent increases that depended on lease length. In one case, tenants reported that a standard 12-month renewal would have resulted in a 44% rent increase, while other lease terms carried dramatically different prices. Documentation submitted to the Council also showed online listing prices changing frequently across comparable units.
“Providence renters did exactly what we hope residents will do when they believe their rights are being violated: they spoke up, organized, documented what was happening, and asked their city government to act,” Council President Miller continued. “Today’s filing sends a clear message: If corporate landlords violate Providence law, they should expect consequences.”
The City Council unanimously passed the rent-setting algorithm ban on May 15, 2025, making Providence one of the first cities in the country to prohibit landlords from using software to price-fix and collude in the rental market. The ordinance was introduced in response to growing national concern over companies like RealPage, which have been the subject of federal antitrust litigation alleging that these algorithmic devices allow landlords to coordinate pricing and artificially inflate rents. At the time of passage, the Council warned that rent-setting algorithms could deepen Providence’s affordability crisis. Providence renters have faced some of the steepest rent increases in the country in recent years, with the city repeatedly ranked among the least affordable rental markets in the United States.
