4.0 hours Property Management (CORE) Course Syllabus
4.0 Core Hours.
Price fixing is defined as cooperative price setting (exact prices or price ranges) by competing business entities. A typical example of price setting in real estate involves a group of real estate agents collaborating to set commission rates.
One way that property managers set rental rates is by researching what competitors charge for comparable properties. Under antitrust laws, directly asking competitors about their rental rates could constitute price setting.
Additionally, property management companies are prohibited from setting property management fees in the same way real estate agents cannot collaborate in setting commission rates.
Price setting is the most common antitrust violation in property management. As was demonstrated in the example, even a casual conversation about fees between competing property managers could violate this law. A good rule of thumb is to avoid discussing property management fees, rental prices, and other fees when unsure if it will violate antitrust laws.
This course discusses several aspects of antitrust laws and provides general information. Property managers should carefully study these laws and consult with real estate attorneys or other experts to ensure that they have the knowledge to comply with these laws.