The Connecticut State Legislature has introduced House Bill 6947, aimed at regulating how residential rental property owners determine rental prices. Proposed on February 13, 2025, the bill seeks to prohibit landlords from utilizing pricing algorithms and sensitive data from competitors to set rental rates, a move that could significantly impact the state's rental market.

The bill defines "competitors' sensitive data" as non-public information, including actual rent prices and occupancy rates, which landlords might use to gain an unfair advantage in pricing. Additionally, it outlines "pricing algorithms" as software programs that analyze this sensitive data to guide landlords in their pricing strategies. The legislation is set to take effect on July 1, 2025, if passed.

Proponents of the bill argue that it aims to promote fairness in the rental market by preventing landlords from leveraging proprietary data to inflate prices, thereby protecting tenants from potential exploitation. Critics, however, have raised concerns about the feasibility of enforcing such regulations and the potential impact on landlords' ability to make informed pricing decisions.

The introduction of House Bill 6947 comes amid ongoing debates about housing affordability in Connecticut, where rising rental costs have become a pressing issue for many residents. Experts suggest that if enacted, the bill could lead to more transparent pricing practices, but it may also create challenges for landlords who rely on data analytics to remain competitive.

As the bill moves through the legislative process, its implications for both tenants and landlords will be closely monitored. The outcome could reshape the dynamics of the rental market in Connecticut, influencing how rental prices are set and potentially affecting housing availability in the state.