Bill > HB2047

This bill introduces comprehensive regulations regarding the use of algorithmic pricing devices in residential rental markets in Virginia. The legislation prohibits landlords from using algorithmic pricing devices that utilize nonpublic competitor data, coordinate rental prices among property owners, or create unfair market restraints. To enforce these restrictions, the bill establishes an Office of the Algorithmic Rent Pricing Ombudsman, which will assist tenants, receive complaints, and monitor developments in algorithmic pricing technologies. Landlords who use such devices must disclose this information to prospective tenants before signing a lease, and tenants who are not informed can terminate their lease within 60 days of discovering the use of an algorithmic pricing device. The bill defines an "algorithmic pricing device" as a technology that calculates rent amounts using various data points, with some specific exceptions for periodically published aggregated reports. Additionally, the Virginia Housing Commission is mandated to conduct a one-year study on these technologies to determine whether they perpetuate systemic biases in the housing market, with a report of findings and recommendations due by November 1, 2026. Tenants who believe a landlord has violated these provisions can file a complaint with the Ombudsman or pursue legal action, with the potential to recover attorney fees if successful.

Business and Industry, Justice

https://lis.virginia.gov/bill-details/20251/HB2047