Pegasus Residential $3.86M Virginia Tenant Fee Settlement

Danielle Toth

Editor

Published

May 14, 2026 2:35 PM

Updated

May 14, 2026

Who are the class members?

Individuals are considered class members if they meet all of the following criteria:

They executed a lease at any apartment complex in Virginia managed by Pegasus Residential LLC.
They paid or were obligated to pay any of the following fees between June 23, 2023, and Jan. 29, 2026:

Pest fee
Community fee
Lease administration fee

There are two groups within the settlement:

Pegasus settlement class members: All consumers who executed a lease at any Pegasus-managed property and paid or were obligated to pay any of the disputed fees during the relevant period
Participating landlords settlement subclass members: Individuals who executed a lease at certain properties and paid or were obligated to pay the disputed fees during the same period. This is an additional payment landlords contribute. The properties in this subclass are:

Innslake Place
Glenmoor Oaks
The Belvedere
The Point at Beaufont
The Point at Beaufont I
The Point at Beaufont II
Hickory Creek
River Forest
Spring Water
Copper Mill

The settlement identified class members and sent them a notice. There are an estimated 24,858 Pegasus settlement class members and 8,697 participating landlords settlement subclass members.

How much can class members receive?

The total settlement fund is $3,862,000, which is divided as follows:

$2,650,000 for all Pegasus settlement class members
$1,212,000 for participating landlords settlement subclass members

The settlement administrator will calculate each class member’s payment on a pro rata basis, meaning it will divide the available funds equally among eligible members after deducting attorneys’ fees, service awards and administrative costs. The exact amount each person receives will depend on the total number of valid class members and the number of people in each subclass.

No claim form needed to receive payment

Class members do not need to file a claim to receive their payment. The settlement administrator will automatically send payments to eligible individuals it administrator identified using Pegasus' records.

If a class member's address has changed, they should update it with the settlement administrator to ensure they receive payment. They can do this online or by emailing or mailing the current and updated information to the settlement administrator.

Settlement administrator's mailing address: Rios v Belvedere, c/o Settlement Administrator, PO Box 23648, Jacksonville, FL 32241
Settlement administrator's email address: info@landlordsettlement.com

Class members who wish to opt out of the settlement must mail a signed exclusion request to the settlement administrator by July 13, 2026. The request must include their name, address, telephone number and a statement, such as, “I do not want to be part of the settlement class in Valencia Rios v. Belvedere.”

Required information

Class members must enter the notice ID and PIN from the settlement notice they received to update their address online.

Payment information

The settlement administrator will mail paper checks to the address on file for each class member unless they submit a change of address. Checks are valid for 90 days. If the class member does not cash the check within that period, the settlement administrator may redistribute funds to other class members or donate them to the National Association of Consumer Advocates.

$3.86 million settlement fund breakdown

The $3,862,000 settlement fund will cover:

Settlement administration costs: $30,000
Attorneys’ fees and expenses: Up to $1,287,333
Service awards to class representatives: Up to $15,000 each for three plaintiffs ($45,000 total)
Payments to eligible class members: Remaining balance

Important dates

Exclusion (opt-out) deadline: July 13, 2026
Final fairness hearing: Aug. 24, 2026

When is the Valencia Rios v. Belvedere NRDE LLC payout date?

The settlement administrator will mail payments after the court resolves any appeals and grants final approval to the settlement.

Why is there a class action settlement?

The class action lawsuit alleged Pegasus Residential LLC, Belvedere NRDE LLC and Glenmoor Oaks NRDE LLC violated Virginia law by charging and collecting certain fees not permitted under the VCPA and VRLTA.

The companies denied all allegations and any liability. Both sides agreed to settle to avoid the expense and uncertainty of continued litigation and to provide compensation and relief to affected tenants.