Property Management
A Virginia tenant receives a 5-Day Pay or Quit notice. This means:
AThey have 5 days to move out
BThey have 5 days to pay overdue rent or the landlord may pursue eviction✓ Correct
CThe landlord is canceling the lease in 5 days
DVREB has been notified
Explanation
A Pay or Quit notice gives the tenant a specified period (the VRLTA specifies written notice requirements) to pay overdue rent or vacate. If neither occurs, the landlord may begin the unlawful detainer process.
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Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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Continuing Education
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