2023 Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 12 - Virginia Residential Landlord and Tenant Act
§ 55.1-1205. Prepaid rent; maintenance of escrow account

Universal Citation: VA Code § 55.1-1205 (2023)

A landlord and a tenant may agree in a rental agreement that the tenant pay prepaid rent. If a landlord receives prepaid rent, it shall be placed in an escrow account in a federally insured depository authorized to do business in Virginia by the end of the fifth business day following receipt and shall remain in the account until such time as the prepaid rent becomes due. Unless the landlord has otherwise become entitled to receive any portion of the prepaid rent, it shall not be removed from the escrow account required by this section without the written consent of the tenant.

2002, c. 531, ยง 55-248.7:1; 2015, c. 596; 2017, c. 730; 2019, c. 712.

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