Residents were angered as they found themselves without transportation and scrambling to get money to retrieve their cars.
Two people said it cost them their jobs.
Henrico county police said about 50 cars were towed from the Village at the Arbors.
The tow truck driver was confronted by angry residents.
“According to the rental office, they do not have a signed contract with you, nobody in your office has been able to provide a signed contract,” said one person.
Many here said they were never told by the apartment complex that they would be towed.
"You got a notice in the mail ma'am,” the driver said.
“No we did not,” replied angry residents.
“Yes you did ma'am, you had a notice in the mail, yes you did ma'am,” the driver responded.
"I have a court date this morning at 9:30,” said resident Tiffany Powell. “I got up to get ready, to prepare myself to go to court and then go to work -- I go outside and my car is gone."
“They say they sign a contract, we don't know anything, most people don't know anything about contract,” said Ginette Seneger who also awoke to find her car towed.
Many called 911, believing their cars are stolen
Then they found out it would take around "a hundred and fifty dollars” to get their towed cars back.
"I think people shouldn't have to pay to get their car back, because there's nobody got $150 dollars in hand right now,” said Seneger.
"I don't have $150 dollars to give them,” said Amber Boley. “This is my first day back to work in two weeks, I just had a baby.
“Today is rent day, what do these people expect, it's hard times and you're making it 10 times harder,” she added.
Both the apartment complex and the towing company refused to comment about what happened.
Residents said they want their cars back and those who have paid want their $150 back.
Henrico County Police said are now investigating the situation as a possible forgery fraud case. They said the property management company and the towing company were in negotiations but the contract was never finalized.