Two property managers are planning to set rental rates on their units to keep the rents high in the area. Which of the laws would have been violated?

The correct answer is related to antitrust laws, which are designed to promote fair competition in the marketplace and prevent monopolistic behavior. When property managers coordinate their rental rates with the intent to keep rents artificially high, they are engaging in price-fixing. This practice is illegal under antitrust regulations, as it restricts competition, leads to higher prices for consumers, and undermines the principles of a free market.

By setting rental rates among themselves rather than allowing the market to determine prices through competition, the property managers violate antitrust laws designed to foster fair pricing and market practices. It is essential for property owners and managers to establish rental rates based on market conditions, such as supply and demand, without colluding with others in the industry.

The other laws mentioned, such as fair housing laws, RESPA (Real Estate Settlement Procedures Act), and laws against steering, address different aspects of real estate practices, such as discrimination in housing, requirements for disclosure in real estate transactions, and guidance on client direction and property showing. None of these specifically relate to the coordination of rental rates in the manner described in the scenario involving the property managers.