Yardi Systems, a California-based company that operates an online platform connecting tenants with property managers, has been accused of allegedly charging a 3.5% surcharge on credit card transactions associated with online rent payments.
The complaint alleges that the surcharge contravenes the rules set by credit card companies which Yardi is obligated to follow. It also claims that this practice constitutes an unfair and deceptive act in violation of Illinois law and has unjustly enriched Yardi by several million dollars.
The lawsuit was filed on Dec. 11 in Cook County Circuit Court by attorneys Martin W. Jaszczuk and Margaret M. Schuchardt, of Jaszczuk PC, of Chicago; and Matthew Peterson, of the Consumer Law Advocate PLLC, of Chicago.
The plaintiffs seek to expand the action to include all tenants throughout the U.S. who allegedly paid improper rent surcharges through Yardi's system.
The plaintiffs are seeking unspecified compensatory money damages and seeks to stop Yardi's alleged practice of assessing unauthorized surcharges.