HB 442

Abstract

Virginia Residential Landlord and Tenant Act; landlord remedies; noncompliance with rental agreement; payment plan. Requires a landlord who owns more than four rental dwelling units or more than a 10 percent interest in more than four rental dwelling units, before terminating a rental agreement due to nonpayment of rent if the exact amount of rent owed is less than or equal to one month's rent plus any late charges contracted for in the rental agreement and as provided by law, to serve upon such tenant a written notice informing the tenant of the exact amount due and owed and offer the tenant a payment plan under which the tenant must pay the exact amount due and owed in equal monthly installments over a period of the lesser of six months or the time remaining under the rental agreement. The bill prohibits the landlord from charging any additional late fees during the payment plan period in connection with the unpaid rental amount for which the tenant entered into the payment plan so long as the tenant makes timely payments in accordance with the terms of the payment plan. The bill also outlines the remedies a landlord has if a tenant fails to pay the exact amount due and owed or enter into a payment plan within five days of receiving notice or if a tenant enters into a payment plan and after such plan becomes effective fails to pay rent when due or fails to make a payment under the terms of the agreed-upon payment plan.

Virginia Residential Landlord and Tenant Act;landlord remedies; noncompliance with rental agreement; payment plan.Requires a landlord who owns more than four rental dwelling unitsor more than a 10 percent interest in more than four rental dwellingunits, before terminating a rental agreement due to nonpayment ofrent if the exact amount of rent owed is less than or equal to onemonth's rent plus any late charges contracted for in the rental agreementand as provided by law, to serve upon such tenant a written noticeinforming the tenant of the exact amount due and owed and offer thetenant a payment plan under which the tenant must pay the exact amountdue and owed in equal monthly installments over the remaining periodof the rental agreement, not to exceed 12 months. The bill also outlinesthe remedies a landlord has if a tenant fails to pay the exact amountdue and owed or enter into a payment plan within five days of receivingnotice or if a tenant enters into a payment plan and after such plan becomes effective fails to pay rent when due or fails to make a paymentunder the terms of the agreed-upon payment plan.