CO HB1004

HB 25-1004: No Pricing Coordination Between Landlords

• Prohibits the sale or distribution of algorithmic devices intended for use by two or more landlords in the same market to set rent, occupancy levels, or other lease terms using similar data or formulas

• Bans landlords from using algorithmic pricing tools when they know or should know other landlords use the same device, and circumstances suggest participation in a price-fixing scheme

• Prohibits algorithmic service providers from using nonpublic competitor data (actual rent prices, occupancy rates, lease dates) for Colorado residential properties when setting or recommending rent

• Violations constitute illegal restraint of trade under Colorado's State Antitrust Act of 2023, with corresponding penalties

• Exempts tools using only publicly available data that provide free estimates to the public, affordable housing program compliance products, and multiple listing services