Real Estate Board; protection of escrow funds by real estate licensee; payments made under a rental agreement. Provides that for any landlord-tenant relationship within the purview of the Virginia Residential Landlord and Tenant Act, any prepaid rent paid more than one month prior to the due date and all security deposits paid to a licensed broker in connection with the lease shall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to the lease transaction. Additionally, any application deposit paid by a prospective tenant for the purpose of being considered as a tenant for a dwelling unit to a real estate licensee acting on behalf of the landlord shall be placed in escrow by the end of the fifth business banking day following approval of the rental application by the landlord. The bill provides that the funds must remain in the escrow account until disbursed in accordance with the lease, property management agreement or by law.
Real Estate Board; protection of escrow funds by real estate licensee, rental agreement, etc.
Real Estate Board; protection of escrow funds by real estate licensee; payments made under a rental agreement. Provides that for any landlord-tenant relationship within the purview of the Virginia Residential Landlord and Tenant Act, any prepaid rent paid more than one month prior to the due date and all security deposits paid to a licensed broker in connection with the lease shall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to the lease transaction. Additionally, any application deposit paid by a prospective tenant for the purpose of being considered as a tenant for a dwelling unit to a real estate licensee acting on behalf of the landlord shall be placed in escrow by the end of the fifth business banking day following approval of the rental application by the landlord. The bill provides that the funds must remain in the escrow account until disbursed in accordance with the lease, property management agreement or by law.
Status
Bill Text
Date | Bill Type | Click here for Bill Details (PDF) |
---|---|---|
2013-03-18 | https://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+CHAP0489+hil | |
2013-02-20 | https://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+HB1736ER+hil | |
2013-01-24 | https://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+HB1736H1+hil | |
2013-01-08 | https://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+HB1736+hil |
Votes
Date | Action | Vote | Document |
---|---|---|---|
2013-01-23 | House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) | Yea: 7 No: 0 Other: 0 | Document |
2013-01-24 | House: Reported from General Laws with substitute (22-Y 0-N) | Yea: 22 No: 0 Other: 0 | Document |
2013-01-30 | House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) | Yea: 101 No: 0 Other: 0 | Document |
2013-02-11 | Senate: Reported from General Laws and Technology (13-Y 0-N) | Yea: 13 No: 0 Other: 0 | Document |
2013-02-13 | Senate: Constitutional reading dispensed (40-Y 0-N) | Yea: 40 No: 0 Other: 0 | Document |
2013-02-14 | Senate: Passed Senate (40-Y 0-N) | Yea: 40 No: 0 Other: 0 | Document |
Amendments
no data available at this time.
Bill History
Date | Action |
---|---|
2013-03-18 | Governor: Acts of Assembly Chapter text (CHAP0489) |
2013-03-18 | Governor: Approved by Governor-Chapter 489 (effective 7/1/13) |
2013-02-20 | Signed by President |
2013-02-20 | Signed by Speaker |
2013-02-20 | Bill text as passed House and Senate (HB1736ER) |
2013-02-20 | Enrolled |
2013-02-14 | Passed Senate (40-Y 0-N) |
2013-02-14 | Read third time |
2013-02-13 | Constitutional reading dispensed (40-Y 0-N) |
2013-02-11 | Reported from General Laws and Technology (13-Y 0-N) |
2013-01-31 | Referred to Committee on General Laws and Technology |
2013-01-31 | Constitutional reading dispensed |
2013-01-30 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) |
2013-01-30 | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
2013-01-29 | Engrossed by House - committee substitute HB1736H1 |
2013-01-29 | Committee substitute agreed to 13104304D-H1 |
2013-01-29 | Read second time |
2013-01-28 | Read first time |
2013-01-24 | Committee substitute printed 13104304D-H1 |
2013-01-24 | Reported from General Laws with substitute (22-Y 0-N) |
2013-01-23 | Subcommittee recommends reporting with amendment(s) (7-Y 0-N) |
2013-01-14 | Assigned GL sub: #1 Housing |
2013-01-08 | Referred to Committee on General Laws |
2013-01-08 | Prefiled and ordered printed; offered 01/09/13 13101778D |
Sponsors
Name | District |
---|---|
Peter Farrell | HD-056 |