A month ago, San Francisco became the first city to ban the sale or use of revenue management software that deploys algorithms to set multifamily rents or manage occupancy levels.
Now in San Jose, three city council members have introduced an ordinance that would impose a similar ban in the heart of Silicon Valley.
Members, Peter Ortiz, Omar Torres and David Cohen, said in a joint statement that revenue management software with dynamic pricing tools—AI-driven algorithms—are allowing landlords "to maximize profits disguised by an inflationary environment," SiliconValley.com reported.
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