A real estate broker includes anyone who, for compensation, leases or offers to lease, or rents or offers for rent, real estate for others. Property management companies need a firm license and licensed brokers or salespersons.
VA · Researched October 7, 2026
Virginia rules for property managers
The Virginia Residential Landlord and Tenant Act (VRLTA) applies to all residential rentals and changes almost every year. Key numbers today: 14-day pay or quit, deposits capped at two months' rent and returned in 45 days, late fees capped at 10%, and application fees capped at $50 plus third-party costs. Several 2026 laws take effect in 2027, including a 90-day rent increase notice and a required payment plan offer for landlords with more than four units.
Licensing to manage rentals in Virginia
Checked against the official sourceOwners or lessors and their regular employees managing their own property, attorneys, receivers and trustees, corporations managing only their own commonly owned rental housing, and tenants paid referral fees.
Rent and security deposits received for a landlord client go into a labeled escrow account by the end of the fifth business banking day after receipt, unless the principals agree otherwise in writing. No commingling; the principal broker is responsible for the account.
Money
The cap also covers combined deposit and damage or renter's insurance premiums charged before move-in.
Give a written itemization of deductions with any refund. With multiple tenants, issue one check payable to all, sent to a forwarding address one of them provides. Keep move-in and move-out records for each tenant.
A real estate licensee must place security deposits in escrow by the end of the fifth business banking day after receipt. Unclaimed deposits can go to the State Treasurer after one year.
Without a written lease, rent is late after the 5th. Landlords may not charge payment processing fees unless a fee-free payment option is offered.
Refund unused application deposits within 20 days (10 days for cash-type payments when you reject). From July 1, 2027, you must disclose fees, screening criteria, and automatic denial criteria before collecting any payment or information.
From July 1, 2027, the increase notice must also give a renewal decision deadline at least 30 days out, and nonrenewal notice stays at 60 days. Mid-lease changes need written consent of both parties.
The VRLTA applies in every jurisdiction and localities may not waive or modify it. We did not confirm whether any other statute addresses local rent caps.
Notices and eviction
Bounced checks and reversed payments also get a 14-day notice. From July 1, 2027, landlords with more than four units must offer a payment plan in the notice when the debt is one month's rent or less.
Criminal or willful acts that threaten health or safety allow immediate termination, with a hearing within 15 days of service. A repeat breach of a like nature after a prior cure allows a 30-day notice with no cure.
Owners not renewing 20 or more (or 50%) of month-to-month tenancies in a multifamily property within 30 days must give 60 days' notice.
Serve the unlawful detainer summons at least 10 days before the return date. An order of possession stays valid for 180 days, and the writ should be executed within 15 days after the sheriff receives it and no later than 30 days after it issues. A tenant stops a nonpayment eviction by paying all rent, damages, fees, and costs at least 48 hours before the scheduled eviction, unless the case also rests on other grounds.
Notice options: include the warning in the termination notice, in a 7-day abandonment notice, or in a separate notice giving 10 days plus 24 hours. The tenant may retrieve items at reasonable times until disposal.
Access and condition
Emergencies are excepted. Tenants may not unreasonably refuse entry to inspect, repair, or show the unit. Routine maintenance must happen within 14 days of the notice.
Tenants can raise conditions as a defense, pay rent into court escrow, or use a statutory repair remedy after notice. Landlords cannot charge tenants maintenance or repair fees unless the tenant caused the problem.
Give a move-in damage report within 5 days of occupancy. Disclose visible mold, sale of the property, nearby military air installations, defective drywall, and past meth labs. Federal lead paint rules apply to pre-1978 units.
Fair housing
Source of funds includes housing vouchers and any lawful assistance program. Disability is also protected.
Recent and upcoming changes
Landlords with more than four units must give rent increase notices 90 days before lease end, with a renewal decision deadline at least 30 days out.
Landlords with more than four units must offer a payment plan of up to six months when a tenant owes one month's rent or less, once per lease term.
Before collecting any payment or information, landlords must disclose fees, refundability, tenant selection criteria, and automatic denial criteria.
2025 and 2026 amendments to prohibited lease provisions, including a ban on charging tenants maintenance or repair fees unless caused by the tenant.
The old escrow regulation 18VAC135-20-180 was repealed and replaced by 18VAC135-20-181 on escrow account maintenance.
Leases must itemize the deposit, rent, and one-time move-in charges on the first page, with required statutory wording (enacted 2024, amended 2025).
Managing rentals in Virginia?
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Virginia directory
Sources
- Virginia Residential Landlord and Tenant Act, Va. Code Title 55.1 Ch. 12
- Va. Code Title 54.1 Ch. 21, Real Estate Brokers
- Virginia Fair Housing Law, Va. Code Title 36 Ch. 5.1
- 18VAC135-20-181 Escrow accounts
- Va. Code § 8.01-126, Summons for unlawful detainer
- Va. Code § 8.01-470, Writs on judgments for specific property
Compare with other states: security deposit limit, deposit return deadline, deposit interest and holding rules, late fees, application and screening fees, rent increase notice, rent control, notice for unpaid rent, notice for lease violations, ending a month-to-month, eviction timeline, abandoned property, landlord entry, repairs and habitability, required disclosures, state fair housing protections.