February 17, 2017
The 2017 Virginia General Assembly is moving swiftly through legislative action as we quickly approach the scheduled February 25th end of session deadline known as ‘sine die.’ House and Senate committees have completed most of their work and hundreds of pieces of legislation are moving through floor votes in hopes of making it to Governor McAuliffe’s desk for review and signature.
There’s been a lot of activity in regards to our Virginia REALTORS® Legislative Agenda bills.
HB 1623, which allows a property manager to transfer a security deposit to the owner and puts the common law in statute that a lease after foreclosure continues on a month-to-month basis, passed the Senate on Monday on a 40-0 vote. The Senate version of the legislation, SB 991, passed the House on Friday. Both bills now head to the Governor for his consideration.
Other Virginia REALTORS® initiatives regarding property and condo owners associations are headed to the Governor’s desk as well. HB 2045, HB 2274, SB 1231 and SB 1255, passed both chambers uncontested on Thursday and Friday. The bills do several things, including:
- Establish that associations cannot condition, limit or prohibit for sale signs other than limiting signs to those that are in compliance with the VREB regulations.
- Stop associations from requiring a formal power of attorney from a real estate licensee to represent their clients before the association and are required to accept a document from the real estate licensee signed by the owner that confirms representation.
- Add that failure to deliver the association disclosure packet within the 14-day requirement subjects the association to up to $1,000 fine imposed by the Common Interest Community Board.
Continue to follow us on Facebook, Twitter, and at VirginiaREALTORSChoose.com for regular updates as we wrap up our final week at Capitol Square, and email us at Advocacy@varealtor.com with comments or questions.