A VRLTA lease is a lease that complies with standards, practices, rules and code set out by the Virginia Residential Landlord Tenant Act. A Common Law lease adheres to Commonwealth codes and other contract law. If a landlord has have more than 4 properties in the Commonwealth of Virginia, the landlord MUST use a VRLTA lease.
When Nesbitt Realty first started managing properties it was our preference to use a Common Law Lease but following the advise of attorney and subject expert B. Creasy Grimes, almost all of our landlords now elect to use the VRLTA Lease as written by NVAR staff attorneys.
However have you ever wondered exactly what the difference is between the two? We recommend that you seek advice from your attorney after reading this break down prepared by Friedlander for the Northern Virginia Association of Realtors.
Continue reading: VRLTA and common law Differences