A Virginia Standard 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.
Once both parties agree to the terms and conditions laid out in the agreement, the lease can be officially signed.
Considerations on Lease Length
- 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 (§ 55.1-1204.).
Security Deposit
- Maximum Amount ($): Two months’ rent (§ 55.1-1226(A)).
- Returning to Tenant: Within 45 days.
Rent Grace Period
There is a 5-day grace period for late payments (§ 55.1-1204C(4)).
Landlord Resources
- Landlord-Tenant Laws – Virginia Residential Landlord and Tenant Act.
- Handbook – Virginia Landlord-Tenant Law Guide.
