Depends on how you define "collude". They do drive rents slowly up over time, using each other's rental increases as justification.
Depends on how you define "collude". They do drive rents slowly up over time, using each other's rental increases as justification.
"Banish me from Eden when you will, but first let me eat of the tree of knowledge."
It's not about "justification", there's no agency they need to justify their prices to.
It's a matter of competition. Charge too much and you don't get renters. If the profit margin is too high somebody will shave their price a little bit and have a lower vacancy rate.