Commonwealth of Virginia caps Application Fee for Tenants

MoneyThe Commonwealth of Virginia has passed HB 720 sponsored by G. Glenn Oder to address landlord and tenant with a definition of application fee, etc. and manner of serving notice to tenants. This new law adds, among other things, a definition of "application fee." Application fees are now capped at the fee at $50, and provides that such fee is nonrefundable. The bill also defines "written notice" as notice, including any representation of words, letters, symbols, numbers, or figures, whether (i) printed in or inscribed on a tangible medium or (ii) stored in an electronic form or other medium, retrievable in a perceivable form, and regardless of whether an electronic signature is affixed. In other words, landlords and tenants can now give legal notice via email, Facebook or other electronic media, even without an electronic signature. In cases where a tenant pays rent with a bad check, the bill also allows a landlord to seek an award of costs or attorney fees or the lesser of $250 or three times the amount of the bad check, draft or order as part of the damages requested on an unlawful detainer action, provided the landlord has given notice. The bill allows such notice to be included in the five-day termination notice at the option of the landlord. The bill contains specific provisions if the dwelling unit is a public housing unit or other housing unit subject to regulation by the Department of Housing and Urban Development.

When Shopping Rentals in in {Location_Name}, Stay within your Budget

The first step for any renter is to establish a realistic budget. Without a budget you will not be able to make an informed decision about the type of property you can afford and you may end up struggling to pay your rent. When drawing up a budget you need to consider your fixed costs. These are payments that have to be made every month and that cannot be altered. You need to subtract your fixed costs from your monthly income. These could include car insurance, travel costs, school fees and debt repayments. Then you need to subtract your living expenses, such as food, entertainment and medical bills. Once you have subtracted all these costs you will be able to determine the amount that you can spend on rent per month. It is important to be realistic when you draw up  your monthly expenses and it is a good idea to include an additional amount to be set aside for emergencies, savings and unexpected expenses. Once you have a clear idea of your rental budget then you can start looking for a property that suits both you lifestyle requirements and is within your budget. This is a good time to contact a rental agent. Rental agents have access to all the available rentals, they can ensure that you get good value for money and best of all they cost the renter nothing. [Learn more.]
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Will Nesbitt

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Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.