Over the past two weeks, the Virginia Realtors® short-term rental bill which would have exempted Realtor®-managed properties from enforcement of certain short-term rental provisions in local ordinances, has received many requests for amendments to the bill. While Realtors® from across the state spoke in strong support of the bill through our statewide Call for Action, the bill will be referred to the Housing Commission for further study and recommendations. This gives us time to fully review all of the proposed amendments and work with all stakeholders to ensure that we can return in the 2024 General Assembly with an even stronger proposal.
The rest of the Virginia Realtors® agenda is moving along well through the legislative process. The following status updates are as of January 30, 2023.
Security Deposits
Extends time to return a security deposit when a third-party needs to be contracted by 15 days
HB 1542/SB 891
Unanimously passed both chambers committees and is headed to the House floor
Ombudsman Bill
Provides more transparency and accountability for HOAs that violate Common Interest Community law
HB 1627/SB 1042
Unanimously passed both chambers committees and is headed to the floor
Resale Disclosure Act
Consolidates all parts of the resale disclosure packet into one code section under the “Resale Certificate” and streamlines its presentation for purchasers
HB 2235/SB 1222
Cleared the House subcommittee and Senate full committee, had first reading on the Senate floor