This office lease clause states that the amount of the security deposit shall be increased to reflect the increase in Base Rent. The Owner shall at all times have and maintain two full months' Base Rent as security.
Virginia Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent
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How to fill out Clause Providing For The Periodic Increase In The Tenant Security To Reflect Increases In Base Rent?
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The landlord of property in any locality in which a military air installation is located, or any person authorized to enter into a rental agreement on his behalf, shall provide to a prospective tenant a written disclosure that the property is located in a noise zone or accident potential zone, or both, as designated by ...
§ 55.1-1227. It is the tenant's responsibility to maintain the dwelling unit to prevent accumulation of moisture. Tenants should properly ventilate bathrooms during showers. Tenants must promptly notify the landlord of any moisture accumulation or any evidence of visible mold by the tenant.
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.
An owner of the premises or any other person authorized to act for and on behalf of the owner. B. In the event of the sale of the premises, the landlord shall notify the tenant of such sale and disclose to the tenant the name and address of the purchaser and a telephone number at which such purchaser can be located. C.
The security deposit and any deductions, damages, and charges shall be itemized by the landlord in a written notice given to the tenant, together with any amount due to the tenant, within 45 days after the termination date of the tenancy or the date the tenant vacates the dwelling unit, whichever occurs last.
The landlord or the tenant may terminate a week-to-week tenancy by serving a written notice on the other at least seven days prior to the next rent due date.
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.
Security Deposits Deposit Limit: 2 months' rent (VA Code § 55.1-1226). Interest: There is no law in Virginia requiring landlords to pay interest on security deposits. Return Within: 45 days (VA Code § 55.1-1226(A)). Deposit Location: There are no laws in Virginia specifying where the security deposit should be kept.
