PSI Virginia Real Estate Practice Exam

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Prepare for the PSI Virginia Real Estate Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What is the main purpose of the Virginia Residential Landlord and Tenant Act (VRLTA)?

To outline procedures for selling homes
To establish the rights and obligations of landlords and tenants
To protect real estate brokers from liability
To regulate commercial leases

The correct answer is: To establish the rights and obligations of landlords and tenants

The main purpose of the Virginia Residential Landlord and Tenant Act (VRLTA) is to establish the rights and obligations of landlords and tenants. This legislation aims to promote a fair and equitable relationship between landlords and tenants, ensuring that both parties understand their respective rights and responsibilities. The VRLTA provides a structured framework for issues such as rent collection, maintenance responsibilities, lease agreements, and eviction procedures, thus helping to prevent disputes and ensure that both landlords and tenants can navigate their agreements with clarity. In contrast to the other options, the VRLTA does not focus on the procedures for selling homes, protect real estate brokers from liability, or specifically regulate commercial leases. Instead, it is dedicated to the residential rental sector, highlighting its commitment to creating a balanced and fair rental market within Virginia.