HB1702: Virginia Residential Landlord and Tenant Act; terms and conditions of rental agreement.

Legislative Summary

Virginia Residential Landlord and Tenant Act; terms and conditions of rental agreement; rent increase; notice. Requires a landlord who owns more than four rental dwelling units or more than a 10 percent interest in more than four rental dwelling units, whether individually or through a business entity, in the Commonwealth to, in the case of any rental agreement that contains an option to renew or an automatic renewal provision, provide written notice to the tenant notifying the tenant of any increase in rent during the subsequent rental agreement term no less than 60 days prior to the end of the current rental agreement term. Virginia Residential Landlord and Tenant Act; terms and conditions of rental agreement; rent increase; notice. Requires a landlord who owns more than four rental dwelling units or more than a 10 percent interest in more than four rental dwelling units, whether individually or through a business entity, in the Commonwealth to, in the case of any rental agreement that contains an option to renew or an automatic renewal provision, provide written notice to the tenant notifying the tenant of any increase in rent during the subsequent rental agreement term no less than 60 days prior to the end of the current rental agreement term.