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1999 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 55-248.42:1 of the Code of Virginia is amended and reenacted as follows:
§ 55-248.42:1. Term of rental agreement; renewal.
A park owner shall offer all current and prospective year-round residents a rental agreement with a rental period of not less than one year. Such offer shall contain the same terms and conditions as are offered with shorter term leases, except that rental discounts may be offered by a park owner to residents who enter into a rental agreement for a period of not less than one year. Upon the expiration of a rental agreement, such agreement shall be automatically renewed for a term of one year with the same terms unless the park operator provides written notice to the tenant of any change in the terms of the agreement at least sixty days prior to the termination date. In the event of an automatic renewal of a rental agreement involving a year-round resident, the security deposit initially furnished by the tenant shall not be increased by the park owner nor shall an additional security deposit be required.
2. That the Virginia Housing Study Commission shall review the issue of security deposits as it relates to the automatic renewal of a manufactured home lot rental agreement. The Commission shall complete its work in time to submit its findings and report on its progress to the 2000 Session of the General Assembly as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents.