After 100 years you (your grand children) will get a notice stating the lease is over. You would then have two options.A 99-year lease is, under historic common law, the longest possible term of a lease of real property. A landlord shall offer all current and prospective year-round residents a rental agreement with a rental period of not less than one year. Im finding conflicting information about Virginia lease laws. I signed a very long lease and now want to leave my apartment for another. Rental history, credit background and information about present employment and income should be investigated. As a tenant, you have certain rights and obligations under the Virginia Residential. Landlord and Tenant Act. The elements of a lease agreement outline the duration of the lease, renewal terms, rent amount, security deposit terms, and late fees.