This week at the General Assembly is “Crossover,” the legislative midpoint of the Session. At this stage, a bill that originated in the House must be passed by the House before heading to the Senate. (The process is the same for bills that are introduced in the Senate.) Once a bill gets the stamp of approval from the chamber of introduction, it begins the legislative process over again in the opposite body. The good news for you is that our Legislative Agenda is in good shape as we begin the second half of the Session.
Rent Control Goes Down
Virginia REALTORS® and other housing groups defeated legislation that would have allowed localities to set up rent control ordinances and fine housing providers up to $2,500 per violation. The bill was voted down 7-0 in the House General Laws Subcommittee #2.
Sometimes lawmakers introduce legislation that is well-intentioned, but the practical application of the policy isn’t ideal. That’s when our team gets to work to fashion an appropriate compromise that provides a solution to the legislator’s concern, but doesn’t have a negative impact on you and your business.
One bill submitted this year would have required a seller to make an affirmative disclosure to a buyer about the existing lot coverage and the maximum lot coverage for the property. Virginia REALTORS® negotiated adding language the to the Virginia Residential Property Disclosure Act, encouraging buyers to do their due diligence on these situations, which is the standard policy position of Virginia REALTORS® on disclosure issues.
Welcome to My House
We enjoyed having members from the Northern Neck Association of REALTORS®, Harrisonburg-Rockingham Association of REALTORS®, and the Hampton Roads REALTORS® Association visit the Capitol in Richmond this week to advocate for our industry.
If you would like to schedule a day for you or your group to come to Richmond to get a “behind-the-scenes” look at the legislative process, there are still a few days left to participate. Finally, if you would like a member of our team to join your association or firm meeting virtually during Session, email us at email@example.com or reach out to one of our team members directly.