The Northern Virginia Association of Realtors® (NVAR), in conjunction with the Center for Regional Analysis at George Mason University (GMU-CRA), issues a consensus forecast for the NVAR region’s housing market. 

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$2 Billion Sports and Entertainment Center Brings Added Development to Northern Virginia

By Frank Dillow, NVAR Member

Santa may have arrived early for Virginians with the announcement two weeks before Christmas that the Washington Wizards and the Washington Caps will relocate to Alexandria and anchor a new 12-acre, $2 billion dollar sports and entertainment development at Potomac Yard.

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Legal Hotline Question of the Month: I represent a nonresident Landlord. What is a Resident Agent?

For rental transactions where the Landlord is not a resident of Virginia, the Landlord will have to designate a Resident Agent both on our standard leasing forms and with the Virginia State Corporation Commission (“SCC”). Appointment of a Resident Agent is required by the VRLTA § 55.1-1211 and exist to receive service of process in case of any lawsuits against the Landlord associated with the rental. Resident Agents do not have to be a property manager or Realtor®! Nonresident Landlords can designate anyone – so long as they (1) are residents of Virginia, and (2) have a business office in Virginia. Once the Landlord has selected their preferred Resident Agent, they must then register the Resident Agent with the SCC. This process can be done with an online form and costs only $10. For more information and to appoint a Resident Agent, visit here: Virginia SCC - Resident Agent Appointment.