This office lease provision states that Base Rent shall be $25.50 per rentable square foot. During the Renewal Term, Base Rent shall be increased by the change, if any, in the Consumer Price Index. In no event will the Renewal Rental Rate be less than the Base Rent.
Virginia Provision Calculating the Rent Increase
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US-OL24017D
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Starting in July, Virginia will have stricter restrictions on hemp-derived products, age verification rules for accessing adult websites, tougher penalties for ?swatting? calls and allow police chiefs to set curfews.
Ing to Virginia landlord-tenant law, tenants have the right to live in a habitable unit that complies with proper housing regulations. Additionally, tenants have the legal right to request required repairs if the unit has any kind of damage that exceeds normal wear and tear.
After the lease term has ended, the landlord must provide the security deposits to the tenant within 45 days of them moving out of the property. If the tenant doesn't receive their security deposit within these 45 days, they have the legal right to file a claim, ing to Virginia landlord-tenant laws.
In fact, the average rent increase in 2022 was 14%. ing to US Census Bureau data, Virginia ranked as the 5th highest for one-bedroom rent increases across the country in 2022.
The Virginia Residential Landlord and Tenant Act (VRLTA), Sections 55-248.2 through 55-248.40 of the Code of Virginia, establishes the rights and obligations of landlords and tenants in the Commonwealth. Only the courts can enforce those rights and responsibilities.
There is no rent control in Virginia. Therefore, there is no limit on rent increases a landlord can impose, but they must give a 30-day written notice of the increase. If a tenant objects to the new rent amount, they have the right to vacate the unit within that 30-day period.
Virginia law does not place any restrictions or ceilings on how much a landlord can charge for rent or how much a landlord may raise rent. Most landlords determine rent based on the current market rate. When there is a lease agreement, the landlord may not increase the rental rate until the end of the lease term.
If the eviction is due to non-payment of rent, the landlord must give a 5-day notice to pay or vacate. If the eviction is due to a lease violation, the landlord must give a 21-day notice to cure the violation or vacate.
