Free Virginia Cash for Keys Agreement Template

Last reviewed September 2026

Written by LawLease Editorial

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Virginia Cash for Keys Agreement

This Cash for Keys Agreement is built with Virginia as the governing state. These are the Virginia landlord-tenant rules that most often bear on it, with the statute for each.

Virginia rules at a glance

Virginia rules for a Cash for Keys Agreement
Security deposit limit	2 months’ rent, including any up-front damage or renter’s insurance premiumsVa. Code §§55.1-1226(A), 55.1-1206(C)
Deposit return	45 days after the tenancy ends or the tenant moves out, whichever is later, with an itemized noticeVa. Code §55.1-1226(A)
Insurance instead of a deposit	A landlord may let the tenant buy approved damage insurance instead of paying a deposit; the tenant can switch to paying the full deposit at any time (§55.1-1226(I)–(J)).
Month-to-month termination	30 days before the next rent due date, unless the lease sets a different periodVa. Code §55.1-1253(A)
Mass non-renewals	A multifamily owner declining to renew the greater of 20 or half of its month-to-month tenancies within 30 days must give 60 days’ notice (§55.1-1253(B)).
Nonpayment eviction notice	14-day written pay-or-quit noticeVa. Code §55.1-1245(F)

Security deposits in Virginia

A Virginia landlord may not collect a security deposit, however it is labeled, of more than two months’ periodic rent (§55.1-1226(A)). If the landlord also collects damage-insurance or renter’s-insurance premiums before the tenancy starts, the deposit and premiums together still can’t exceed two months’ rent (§55.1-1206(C)).

Move-in report — Within 5 days after occupancy, the landlord must give the tenant a written report itemizing existing damage — including whether there is visible mold. It is deemed correct unless the tenant objects in writing within 5 days (§§55.1-1214, 55.1-1215).
Move-out inspection — Within 5 days of learning the tenant intends to leave, the landlord must tell the tenant of the right to attend the move-out inspection; if the tenant asks in writing to attend, the inspection must happen within 72 hours of delivery of possession (§55.1-1226(G)).
Return — The deposit, less lawful deductions, must be returned with a written itemization within 45 days after the tenancy ends or the tenant moves out, whichever is later. Allowed deductions are unpaid rent and lease-specified late charges, damage beyond reasonable wear and tear, and other charges in the lease (§55.1-1226(A)).
Contractor extension — If damage exceeds the deposit and needs a third-party contractor, the landlord may give written notice within the 45 days and take an extra 15 days to itemize (§55.1-1226(E)).
Willful violations — A court will order the deposit returned plus actual damages and reasonable attorney fees if the landlord willfully fails to comply (§55.1-1226(E)).
Insurance instead of a deposit — A landlord may let the tenant buy approved damage insurance instead of paying a deposit; the tenant can switch to paying the full deposit at any time (§55.1-1226(I)–(J)).

Ending a Virginia tenancy

Virginia notice periods
Week-to-week	7 days before the next rent due dateVa. Code §55.1-1253(A)
Month-to-month	30 days before the next rent due date (unless the lease differs)Va. Code §55.1-1253(A)
Nonpayment of rent	14 days to pay before terminationVa. Code §55.1-1245(F)
Material lease violation	21 days to cure; termination at least 30 days after noticeVa. Code §55.1-1245(A)
Non-renewal (landlord with 5+ units)	60 days before the end of the termVa. Code §55.1-1204(K)

Criminal or willful acts — A non-remediable criminal or willful act that threatens health or safety allows immediate termination (§55.1-1245(C)).
Mass non-renewals — A multifamily owner declining to renew the greater of 20 or half of its month-to-month tenancies within 30 days must give 60 days’ notice (§55.1-1253(B)).
Holdover — A lease may set holdover damages of up to 150% of the per-diem rent for each day the tenant stays past the termination date (§55.1-1253(C)).
Payment plans (from July 1, 2027) — Landlords with more than four units must offer a payment plan in the nonpayment notice when the tenant owes no more than one month’s rent plus lawful late charges (§55.1-1245, as amended).
Domestic & sexual violence — A victim with a qualifying protective order, conviction, or charging document may terminate on 28 days’ written notice with no liquidated damages (§55.1-1236).
Military — A servicemember with PCS orders, temporary duty orders over three months, or certain other orders may terminate effective at least 30 days after the next rent due date (§55.1-1235).

Virginia Cash for Keys Agreement FAQs

How much can a landlord charge for a security deposit in Virginia?

No more than two months’ periodic rent. Any damage- or renter’s-insurance premiums collected up front count toward that same two-month ceiling (§§55.1-1226(A), 55.1-1206(C)).

How long does a landlord have to return a security deposit in Virginia?

45 days after the tenancy ends or the tenant moves out, whichever is later, together with a written itemization of any deductions. If damage exceeds the deposit and requires a contractor, the landlord can notify the tenant within the 45 days and take 15 more days to itemize (§55.1-1226).

Cash for Keys Agreement in other states

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