A Virginia Standard One (1) Year Lease Agreement is the most common form of long term lease. It is used when both landlord and tenant are sure of a tenant’s ability and desire to remain in the property for the full year, as it provides both parties with a sense of security, at the cost of flexibility, since it cannot be altered until it has terminated.
Since it cannot be easily terminated, most landlords will want to make sure the tenant has the financial capabilities of maintaining the rent for it’s entirety, and will not otherwise violate the lease, and will thus require the tenant to fill out the Rental Application Form, as eviction can be a lengthy and expensive process with no guarantee of financial recompense. Similarly, a tenant who is forced to exit a lease before it has ended may find themselves financially responsible for the rent until the landlord finds a new tenant. Both landlord and tenant should be one hundred percent sure before signing this kind of lease, and if either are unsure, they may wish to use a Month to Month Lease instead.
As it is the basic form for a long term lease, this kind of lease forms the basis for most rental laws. All of Virginia’s rental laws can be found in Virginia Stat Code Ann. Title 55, Chapter 13.
- Virginia landlords are required to disclose the presence of mold before the tenant moves in. If there is mold, the tenant may immediately terminate the lease at no penalty. If they do not, the landlord must have the mold removed within five (5) business days.
- The landlord is required to disclose the name and address for the property owner, manager and any persons authorized to act on their behalf.
- If the property is nearby a Military Air Base, they must disclose if the property is located on a Noise Zone, Accident Zone or both.
- Federal law requires the landlord to disclose the presence of any lead paint based hazards on or around the property.