A Virginia standard residential lease agreement is a formal contract that legally defines the rental relationship between landlords and tenants. It specifies the terms and conditions under which a property is leased, including the security deposit, maintenance provisions, rent amount, and entry requirements.
Once both parties agree to the agreement’s terms and conditions, they can sign and execute it.
Lease Length Considerations
- There are no legally mandated lease lengths. Leases can generally be of any length as long as the term is specified and agreed upon in writing by both the landlord and tenant.
- Oral leases are typically limited to a term of no more than one year and shall not be subject to automatic renewal, except if it’s a month-to-month agreement. [1]
Required Disclosures
- Lead-based paint disclosure
- Defective drywall disclosure
- Notice of intent to demolish
- Identification of landlord
- Methamphetamine disclosure
- Military airfield disclosure
- Mold disclosure
- Existing damage disclosure
- Shared utilities disclosure
- Disclosure of tenants’ responsibilities and rights
- Disclosure of heavy tourism activity
Our Virginia lease agreement page provides more details on the required disclosures for Virginia landlords.
Security Deposit
Rent Payment
- Grace Period: There is a 5-day grace period for late payments. [3]
- Maximum Late Fee: A late charge shouldn’t exceed 10% of the remaining rent balance owed by the tenant or 10% of the periodic rent, whichever amount is less. Whatever the late fee is, the landlord must write it in the lease agreement. [4]
- NSF Fee: A landlord can charge a tenant no more than $50 for a bounced check. [5]
Landlord Resources
- Landlord-Tenant Laws – Virginia Residential Landlord and Tenant Act.
- Handbook – Virginia Landlord-Tenant Law Guide.
