The Virginia Standard Residential Lease Agreement is a document formed between a person looking to rent a livable unit or property (the lessee) and a property manager or owner who is responsible for the rental. The form serves many purposes, the main ones being 1) it’s a means of ensuring the tenant understands their rights and obligations, 2) it establishes important dates, 3) it strictures utilities and who is responsible for certain property expenses, and 4) it serves as proof that the tenant agreed to rent the property for a certain length of time and that they will make payments until the lease’s termination.
Only after the parties have signed the lease, the landlord has collected the first (1st) months’ rent and security deposit(s), and the tenant(s) have been given the keys can move-in to the rental.
Maximum Security Deposit (§ 55-248.15:1(A)): The most a landlord is permitted to charge a tenant is two (2) month’s rent equivalent.
Returning Security Deposits (§ 55-248.15:1(A)): Upon the lease’s termination, landlords are required to return the security deposit (and an accompanying list of deductions, if any) to tenants within forty-five (45) days.
Notice Required before Entry (§ 55-248.18(A)): Twenty-four (24) hours and only at reasonable times.
Virginia Association of Realtors Residential Lease Agreement (Form 200).pdf – This official lease agreement contains all the necessary statutes in order to fully comply with the state’s lease laws. Consisting of fourteen (14) pages, the form is thorough in both the topics it covers and the protections it offers to landlords. It is recommended for landlords that are not looking to make edits to an existing template.
