Prepaid rent; maintenance of escrow account

Va. Code Ann. § 55.1-1205
in effect
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A landlord and a tenant may agree in a rental agreement that the tenant pay prepaid rent. If a landlord receives prepaid rent, 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 rent becomes due. Unless the landlord has otherwise become entitled to receive any portion of the prepaid rent, it shall not be removed from the escrow account required by this section without the written consent of the tenant. 2002, c. 531 , § 55-248.7:1; 2015, c. 596 ; 2017, c. 730 ; 2019, c. 712 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/55.1-1205/Fetched: 10/16/2026
Va. Code Ann. § 55.1-1205 — Prepaid rent; maintenance of escrow account | Code of Virginia (Aug. 2026 snapshot) | Corpus