What are the laws regarding real estate and leasing?

In Virginia, laws regarding real estate and leasing must be followed by both landlords and tenants to ensure a fair and equitable real estate relationship. The Virginia Residential Landlord and Tenant Act (VRLTA) applies to transactions involving residential property and sets out the rights and obligations of all parties. The VRLTA states that landlords must provide tenants with a written rental agreement that outlines the terms and conditions of their tenancy. The agreement should specify the rental rate, length of tenancy, and any necessary deposits or other fees. Landlords must also make all necessary repairs to the property in a timely manner and must follow all applicable housing codes. Tenants must pay rent on time and respect the landlord’s property. They must also adhere to any other terms in the rental agreement, such as refraining from damaging or defacing the property. The VRLTA also grants tenants the right to a refund of their security deposits, when applicable. In addition to the VRLTA, landlords and tenants must also adhere to the Virginia Real Estate Licensing Act, which ensures that individuals involved in real estate transactions are properly licensed. Following these laws and regulations help to ensure that landlords and tenants both have a safe and successful real estate relationship.

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What are the laws regarding real estate and leasing?

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