We are in an era of residential law changes in the country due to increased lawsuits and strong opinions from the Department of Justice. The changes aim to protect tenants and homeowners and ensure that brokers and agents in the property business make house acquiring fair. Every homeowner in Virginia should understand these new laws to avoid misconduct and be informed about any mistreatment from the home seller or landlord.
Here are the most crucial new residential laws:
HB 73 ensured that the records for any eviction notice to a tenant in Virginia, even if dismissed, were retained, which affected the future need for a person to acquire a home. The new law requires the information about eviction cases that were dismissed or dropped to be erased from the court records after 30 days.
Most Virginians reside in home parks. While some own these homes, many are still renting. According to HB 572, late payment should accrue a 10% penalty. However, the law gives the tenants facing eviction notice 48 hours to pay before being evicted. If the tenant cannot settle the debt, they are given a 60-day notice to move.
HB 184 saves home buyers from purchasing or renting zombie mortgages. In previous years, some lenders have used predatory schemes to lock homeowners into debts they could not afford. For instance, when the borrower lags behind in mortgage payments, lenders could sell the mortgage to another person and fail to inform the borrowers of payment dues. The current law requires any buyer to get foreclosure before purchasing a home. Working with reputable real estate agents to avoid such issues is advisable. For instance, Real Estate Agents in VA Beach, offers clean deals to their clients and prevents them from future frustrations.
Survivors of domestic violence are permitted to end their tenancy contract without penalty, as provided by HB 764. However, they are expected to give a 30-day notice and a copy of the protective and conviction order before ending their lease. Unlike previously, where lease termination was only allowed if the abuser was a family member, today, abuse from any person, even if not from the family, is recognized.
According to HB 701, landlords are required to give 72 hours’ notice when they plan to maintain the home. They should then complete the work within 14 days of the notice. Before, landlords were not bound to a time limit when maintaining the home, which made it hard for tenants.
HB 86 prohibits landlords from wrongly increasing fees the tenant is supposed to pay if they are evicted. To avoid changing the figure when going to court, the landlord must notify the tenant of any accrued amount on time and in a written agreement.
HB 538/368 stipulates the maximum fine localities can impose in case of repeated violations of the uniform statewide building code. If a home builder violates zonal building codes, the localities are allowed to increase the fine according to the violation rate.
The new Virginia residential real estate laws are designed to improve the relationship between tenants/homeowners and landlords/home sellers. With these new laws, tenants are protected from fraudsters, and landlords are protected from tenants who would take advantage of them. The law ensures that each party plays its role in making the residential process smooth.
