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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>62292</law_id><section_number>55.1-1205</section_number><catch_line>Prepaid rent; maintenance of escrow account</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="55.1">Property and Conveyances</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Rental Conveyances</unit><unit label="chapter" level="3" order_by="1" identifier="12">Virginia Residential Landlord and Tenant Act</unit><unit label="article" level="4" order_by="1" identifier="1">General Provisions</unit></structure><text>
						<section><p>A <span class="dictionary">landlord</span> and a <span class="dictionary">tenant</span> may agree in a <span class="dictionary">rental agreement</span> that the <span class="dictionary">tenant</span> pay prepaid <span class="dictionary">rent</span>. If a <span class="dictionary">landlord</span> receives prepaid <span class="dictionary">rent</span>, it shall be placed in an escrow account in a federally insured depository authorized to do business in Virginia by the end of the fifth business day following receipt and shall remain in the account until such time as the prepaid <span class="dictionary">rent</span> becomes due. Unless the <span class="dictionary">landlord</span> has otherwise become entitled to receive any portion of the prepaid <span class="dictionary">rent</span>, it shall not be removed from the escrow account required by this section without the written consent of the <span class="dictionary">tenant</span>.</p></section></text><history>2002, c. 531, &#xA7; 55-248.7:1; 2015, c. 596; 2017, c. 730; 2019, c. 712.</history><metadata></metadata></law>
