VA SB355

Authorizes Virginia localities to adopt anti-rent gouging ordinances that cap annual rent increases at no more than 3%, with only one increase permitted per 12-month period

Exempts rental units less than 10 years old, licensed medical and assisted living facilities, religious facilities, school dormitories, owner-occupied group homes, and temporary shelters operated by 501(c)(3) organizations

Requires landlords to provide 90 days written notice before any rent increase, including information about applicable exemptions and contact details for the local anti-rent gouging board

Mandates localities create an anti-rent gouging board to process exemption applications, including "fair return on investment" exemptions for landlords facing increased operating expenses, though exemptions are denied for units not in building code compliance

Establishes civil penalties for violations and prevents landlords from obtaining possession orders in eviction cases for nonpayment if they failed to comply with the local anti-rent gouging ordinance