The proposed settlement creates a $359,925,000 fund for people who rented multifamily housing from October 18, 2018 through November 21, 2025 at properties using RealPage software. Class members who file valid claims share the Net Settlement Fund pro rata based on rent paid. The court has not yet approved it.
Benefit Summary
Settlement Class Members with a Property List rental: Pro rata cash payment plus Business-practice changes.
Other Settlement Class Members: Business-practice changes.
Payments come from the $359,925,000 settlement fund and may change after approved deductions.
Available Awards
Settlement Class Members with a Property List rental: Pro rata cash payment; Other Settlement Class Members: See benefit details
Who Is Included
The Settlement Class includes persons and entities in the United States and its territories who directly paid rent on at least one multifamily residential lease to an owner, manager, or owner-operator at a property licensed for RealPage’s RMS, LRO, YieldStar, or AIRM from October 18, 2018 through November 21, 2025. Exclusions include timely valid opt-outs, defendants, RealPage RMS licensees and specified related persons or entities, governments, the presiding judicial officer and immediate family and staff, and assigned jurors.
- Proof required: A Claim Form and supporting documentation are required if applicable. The notice does not identify what documentation is required for a claim. For payment eligibility, the notice states that the renter must have rented a unit on the Property List.
Claim and Payment Information
- Claim method: Submit online through the Settlement Website or return a Claim Form to the Settlement Administrator.
- Claim deadline: 2027-01-29
- Instructions: Complete and return a Claim Form. You may submit it online through the Settlement Website, or request that a form be mailed or emailed to you from the Settlement Administrator.
Questions & Answers
Who is included in the Settlement Class?
- You may be in the Settlement Class if you or your organization directly paid rent for at least one multifamily residential lease in the United States or its territories during the class period. The rental property must have been licensed for one of the listed RealPage revenue-management products.
- The notice excludes, among others, defendants, RealPage RMS licensees and certain related people or entities, government bodies, the judge and court staff, assigned jurors, and people whose valid exclusion requests are accepted.
- Being sent the notice does not by itself establish that you qualify.
What if my rental building is not on the Property List?
- The Property List is important for a cash payment. The notice says you can receive money from the Settlement Fund only if you rented a unit on that list.
- A building not appearing on the list does not necessarily mean you are outside the Settlement Class. The notice says you may still submit a claim for consideration, but it does not make you eligible for a payment unless you rented a unit on the Property List.
How is the $359,925,000 fund used, and is that the amount people will receive?
- The settlements call for $359,925,000 in cash. It is not all available for payments: the fund and interest may first be used for taxes, administration and notice costs, court-approved lawyers’ fees and expenses, service awards, and other court-approved costs.
- The money left after those amounts is the Net Settlement Fund. Eligible claimants would share it; no individual payment amount is promised.
What must I do to seek a payment, and what proof is required?
- To seek money, you must be a Settlement Class Member, must not exclude yourself, and must complete and submit a Claim Form. The form must be submitted online or received by 11:59 p.m. EST on January 29, 2027.
- The notice also says that supporting documents are required when applicable, but it does not identify in this notice which documents a particular claimant must provide. The claim process therefore has that limitation.
- You can obtain a Claim Form through the Settlement Website or ask the Settlement Administrator to send one by mail or email.
How would a payment be calculated, and when could payments be sent?
- The notice does not give a set payment amount or payment date.
- Under the proposed Plan of Allocation, payments would generally be based on the rent paid during the class period at a rental property licensed for RealPage’s RMS. That amount may be adjusted for estimated overcharges under the plan.
- The Court must approve the plan, and the notice says the remaining fund will be distributed when the lawsuit concludes or when the Court orders it. No money is being distributed now.
What non-cash changes are included?
- The proposed settlements include changes by the settling defendants, not a separate payment to individual class members.
- They agreed not to give RealPage nonpublic data for competitor-pricing recommendations and not to use RealPage software that uses nonpublic competitor data to make rental-pricing recommendations.
- They also agreed to cooperate in the case against defendants who have not settled. Most settling defendants agreed to waive certain arbitration, class-action, and jury-trial waivers for the claims involved.
How do I exclude myself, and what would that change?
- Excluding yourself, also called opting out, means leaving these settlements. You would not receive money from them, but you would keep the right to bring your own case against the settling defendants and releasees over the claims released by these settlements.
- Your written request must be received by the Settlement Administrator by 11:59 p.m. EST on September 1, 2026. It cannot be submitted by phone or email.
- The request must be hand-signed and include your contact information, proof that you are in the Settlement Class, and the required exclusion statement. One request seeking exclusion for multiple people with only one signature will not be accepted.
Can I object to the settlements instead of opting out?
- You may object only if you are a Settlement Class Member and do not exclude yourself. An objection tells the Court what you oppose, such as the settlements, payment plan, requested attorneys’ fees, costs, expenses, or service awards.
- You must file a written objection with the Clerk of Court and mail a copy to Settlement Class Counsel by September 1, 2026. Telephone and email objections are not accepted.
- The notice lists detailed contents for the objection, including rental and membership information, the reasons and supporting materials, contact information, a statement about past objections, whether you plan to speak at the hearing, and a declaration under penalty of perjury.
Do I need to attend the Fairness Hearing, and can I speak there?
- The Fairness Hearing is scheduled for October 15, 2026, at 1:00 p.m. Central Time, in Courtroom 5D of the Fred D. Thompson United States Courthouse in Nashville, Tennessee.
- You do not have to attend. If you want to speak, you must file a notice of intent to appear with the Clerk of Court by 11:59 p.m. EST on September 1, 2026. The notice must identify the case, summarize what you plan to discuss, and include your contact information and signature.
- The hearing date or time may change without another notice to the class.
What happens if I do nothing?
- If you do nothing and fit the class definition, you remain in the Settlement Class and are bound by the Court’s rulings, including the rulings about the settlements and released claims.
- You will not be eligible for money from these settlements unless you submit a Claim Form.
- The Court has only preliminarily approved the proposed settlements. It still must decide whether to grant final approval.
Other Important Dates
- Exclusion deadline: 2026-09-01
- Objection deadline: 2026-09-01
- Final approval hearing: October 15, 2026 at 1:00 p.m. (CT)
- Hearing location: Courtroom 5D of the Fred D. Thompson United States Courthouse, 719 Church Street, Nashville, Tennessee 37203
Case Details
- Total settlement fund: $359,925,000
- Case name: In Re: RealPage, Inc., Rental Software Antitrust Litigation (No. II)
- Case number: 3:23-MD-3071
- Court: United States District Court for the Middle District of Tennessee, Nashville Division
- Administrator: RealPage Rental Software Litigation, Settlement Administrator
- Official Settlement Website: https://www.RealPageRentalSettlement.com
Sources
Official Settlement Website
Claim form, FAQ, deadlines, administrator information
Visit Site →Claim form, FAQ, deadlines, administrator information
Official Settlement Notice (PDF)
Court-approved notice describing eligibility and benefits
Open PDF →Court-approved notice describing eligibility and benefits