Under the Virginia Residential Landlord and Tenant Act (VRLTA), what is the maximum security deposit a landlord may collect from a residential tenant?
Correct Answer
D) Two months' rent
Under Va. Code § 55.1-1226, a landlord may not require a security deposit that exceeds two months' periodic rent. This is a firm statutory cap under the VRLTA and applies regardless of any lease provision to the contrary.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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