Effective July 1, 2024, Virginia has implemented several significant changes to its real estate laws. In this year's installment, tenants get a whole lot of protections (kind of), HOAs are put on a tighter leash, and brokers have to play by some new rules. Out of the 3,594 bills and resolutions considered by the General Assembly during the 2024 session, only 838 of them were signed into law by the Governor. Of those 838, the below represent the most important—or at least are mildly interesting—for those in the business of real estate:
Strengthened Tenant Rights and Protections
- Early Lease Termination for Military Personnel: Military personnel can terminate their lease early with specific orders, effective immediately from March 8, 2024 (SB 213/HB 352).
- Termination for Victims of Abuse: Tenants who are victims of abuse can terminate rental agreements with a permanent protective order (HB 764).
- Amendments to Unlawful Detainer Actions: Landlords can amend the amount due in an unlawful detainer action up to the court hearing date (HB 86).
- Emergency Hearings for Unlawful Detainer: Landlords can now access emergency hearings within 14 days for unlawful detainer actions against unauthorized occupants (HB 1482).
- Routine Maintenance Notice: Landlords must notify tenants of routine maintenance and complete it within 14 days of notice (HB 701).
- Electronic Payment Fees: Pending special ratification, landlords cannot charge fees for electronic payments of rent or security deposits (HB 1519).
- Translation of Housing Documents: The Department of Housing and Community Development must translate key documents for landlords and tenants into Virginia's five most common non-English languages (HB 1487).
Homeowners' and Condominium Associations
- Conduct of Meetings: The Property Owners' Association Act now governs board meetings regardless of incorporation status (HB 723).
- Assessment and Borrowing Provisions: Associations can no longer reduce assessments for common area maintenance. They can borrow money and assign revenues to lenders, and "reserve study" is now defined (HB 1209).
- Foreclosure Limitations: Common interest communities cannot enforce foreclosure liens for judgments under $5,000 on a primary residence (SB 341).
Real Estate Transactions and Broker Definitions
- Time-Share Terminations: The Virginia Real Estate Time-Share Act allows partial termination of certain time-shares and sets a one-year statute of limitations on related legal actions (SB 600/HB 1241).
- Resale Disclosure Act Amendments: Condominium and cooperative associations are included under this Act, with specific fee prohibitions and rescission rights for buyers if resale certificates are delayed (HB 105, SB 526/HB 876).
- Real Estate Broker Definition: The definition now includes any individual or entity involved in two or more compensated real estate transactions within 12 months (SB 358/HB 917).
Consumer Protections in Real Estate
- Unfair Real Estate Service Agreement Act: This Act prohibits long-term service agreements from running with the land or binding future owners and restricts service providers from assigning rights without notice (SB 576/HB 1243).
- Manufactured Home Park Transactions: Park owners must provide 90 days' notice before sale and tenants are entitled to $5,000 in relocation expenses if the park is redeveloped (HB 1397).
Towing Services and Foreclosure Procedures
- Vehicle Towing Notice Requirements: Towing services must provide 48 hours' written notice before towing vehicles for expired registration or inspection stickers (HB 925).
- Foreclosure Sale Procedures: New procedures require detailed affidavits from lienholders and mandate that purchasers at foreclosure pay priority security instruments within 90 days (HB 184).
Local Zoning and Permits
- Zoning Waivers for Child Day Programs: Localities can waive zoning permits for child day programs in office buildings that meet state licensure requirements (HB 281).
- Short-Term Rental Regulations: Localities cannot require a conditional use permit for short-term rentals if the property is the owner's primary residence (SB 544).
- Vacant Building Registrations: Owners of vacant buildings deemed derelict or criminally blighted must register these buildings annually (SB 48/HB 1486).
Many of these various changes to the law are likely to have both intended and unintended effects that will have varying degrees of impact throughout the real estate sector.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.