Virginia Standard Residential Lease Agreement (VR Form 200)

In order to prepare for a new tenant to lease their rental property, a landlord must make adequate preparations. In addition to ensuring the dwelling is in a reasonable state to live in, they should note down all of the terms of the lease in a legally-binding Virginia Association of Realtors Residential Lease Agreement (VR Form 200). Essentially, once they and the tenant complete all relevant sections of this form and sign off on them, the terms of the lease will be established in law.

State Laws & Maximum Security Deposit

State Laws Title 55, “Property and Conveyances”

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.