VA HB1177

Authorizes Virginia localities to adopt rent stabilization ordinances that cap annual rent increases at the Consumer Price Index percentage change for their region

Requires landlords to provide up to two months written notice before rent increases, with only one rent stabilization increase permitted per 12-month period

Exempts several property types including medical facilities, religious facilities, school dormitories, assisted living facilities, landlords owning four or fewer rental units, and newly constructed units built within the past 15 years

Mandates localities publish the annual rent stabilization allowance on their website by June 1 each year, effective for the 12-month period beginning July 1

Allows landlords to apply for exemptions if net operating income has declined due to escalating expenses, and permits localities to impose civil penalties up to $2,500 per violation