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VA HB765
Bill
Status
Engrossed
2/16/2026
Primary Sponsor
C.E. Hayes
Click for details
AI Summary
- Establishes a new regulatory framework for "rental home marketplace guarantees," which are programs offered by online rental platforms that guarantee landlords will receive rent payments or provide property damage protection
- Requires rental home marketplace guarantee providers to register with the State Corporation Commission and maintain a minimum net worth of $1 million or obtain a surety bond
- Explicitly exempts rental home marketplace guarantees from regulation as insurance under Virginia's insurance code (Title 38.2)
- Adds rental home marketplace guarantee transactions to the Virginia Consumer Protection Act, making violations subject to consumer fraud enforcement and penalties
- Mandates specific consumer disclosures and contract requirements, including clear statements that guarantees are not insurance products and information about coverage limitations and claims procedures
Legislative Description
Rental home marketplace guarantees; transactions involving advertisement, sale, etc., penalty.
Last Action
Stricken at request of Patron in Commerce and Labor (11-Y 0-N)
3/9/2026
Committee Referrals
General Laws and Technology2/18/2026
Appropriations: Commerce Agriculture & Natural Resources2/13/2026
Appropriations2/12/2026
General Laws: Housing/Consumer Protection1/26/2026
General Laws1/13/2026
Full Bill Text
No bill text available