Sign up for The Big Story newsletter to receive stories like this one in your inbox.The chair of a U.S. Senate committee asked the Federal Trade Commission on Tuesday to review whether a Texas-based property tech company’s rent-setting software violates antitrust laws.“Troublingly, ProPublica reported that a former RealPage executive stated that the data could give insight into how competitors within a half-mile or mile radius are pricing their units,” said the letter, which was addressed to FTC chair Lina Khan.The Senate letter said the recent reporting on RealPage “raises serious concerns about collusion in the rental market.” It said “the FTC should review whether rent setting algorithms that analyze rent prices through the use of competitors’ private data, such as YieldStar, violate antitrust laws.”RealPage said previously that its revenue management software prioritizes a property’s own internal supply and demand dynamics over external factors such as competitors’ rents.RealPage’s influence over apartment pricing has grown substantially in recent years, following its 2017 acquisition of its biggest pricing competitor, software called Lease RentOptions, or LRO, from The Rainmaker Group."