Virginia

Security Deposit Amount

Landlords in Virginia can require a security deposit up to two months' rent.

Options for Holding

The law does not specify that security deposits must be held in a separate, interest-bearing account. However, landlords must keep the deposit in a manner that ensures it is available for return at the end of the lease.

Notification Requirements

Within 30 days of receiving the security deposit, the landlord must provide the tenant with written notice of the name and address of the financial institution where the deposit is held, if the landlord uses a separate account.

Payment of Interest Earned

Virginia law does not require landlords to pay interest on security deposits.

Timeline for Returning

Landlords must return the security deposit, minus any lawful deductions, within 45 days after the tenant has vacated the property and returned possession to the landlord.

Upon termination of the lease, the tenant must provide a forwarding address in writing to receive the security deposit and any notices related to deductions.

Claims Process

If deductions are made from the security deposit, the landlord must provide the tenant with a written itemized list of damages or charges within the 45-day period. This list should detail the damages and the costs incurred.

Virginia landlords may deduct from a tenant's security deposit for:

• Unpaid Rent: Landlords can deduct amounts for any unpaid rent.
• Damage to Property: Deductions can be made for damage beyond normal wear and tear. This includes repairs to the property, fixtures, and appliances.
• Cleaning Costs: Landlords may deduct reasonable cleaning costs if the property is not returned in a clean condition.
• Other Costs: Any additional costs related to tenant obligations under the lease agreement, such as repair costs due to tenant negligence, may also be deducted.

If a landlord fails to return the security deposit within the 45-day period or does not provide an itemized list of deductions, the tenant may file a lawsuit to recover the deposit and any damages.

In some cases, if the landlord’s actions are deemed willful or negligent, the tenant may be entitled to double the amount of the security deposit, plus reasonable attorney's fees and court costs.

Transfer of Ownership: When a property changes ownership, the new owner assumes responsibility for the security deposit. The landlord must transfer the deposit and notify the tenant in writing of the new owner’s information.

Eviction: If the tenant is evicted, the landlord must follow the same rules for returning the security deposit and providing an itemized list of deductions.