Virginia Security Deposit Limit
Up to two months rent may be collected for the security deposit.
Deadline for Returning Security Deposit
After the tenant has moved out, the deposit must be returned within 45 days. The tenant may request to be present at the final inspection.
An annual rate of 4% below the Federal Reserve Board discount rate as of January 1 of each year must be paid for all deposits held for over 13 months after the lease agreement was signed. There is one exception: Single-family residences are exempt as long no more than 10 single-family homes are owned by the landlord as rental property.