Rent Control Passes In Oregon

Rent Control Passes in Oregon and How Will It Affect You
as A Landlord               

recently passed rent control bill in Oregon State has caused a lot of buzz, and
not just in the media but among tenants and landlords alike. This recent bill
has been set to protect the interests of tenants, but we are here to know just
what the passing of this bill means for landlords.

state-wide bill has been set to protect tenants by placing a restriction on
landlords from terminating tenancy agreements, as well as limiting rent
increase impositions. The main aim of this bill is to help improve the housing
crisis in the state of Oregon. However, for landlord this bill raises several
restriction issues.

first rule basically limits the eviction rules. It restricts landlords from
evicting any tenants with no cause after their first year of tenancy. Even
during the first year of tenancy, there has to be a qualifying landlord reason
for eviction with proof and a 30 day written eviction notice. After the first
year, even stricter rules apply in order for a landlord to end a tenancy
agreement and evict a tenant.

second rule is aimed at limiting the increase of rent in the state. This means
that landlords are now restricted to increasing their rents only once a year
and even when they do, it should not exceed a 7 percent increase inclusive of
the annual change in consumer price index. Landlords are also restricted from
evicting a tenant simply so that they can increase the rent on a unit to the
next renter.

bill, basically ensures that landlords do not have the power to be unreasonable
when dealing with tenants. Also it goes further to putting unreasonable
landlords in check under the law by ensuring that defaulters get penalised.

the other hand, for landlords, this also means that a rent increase cannot be
imposed higher than the stated cap; even if the annual maintenance cost and
expenses of the unit in question may be well beyond the consumer price index.
In other words, what the landlord is left with is less than the rent even with
the stipulated consumer price index increase. It also basically guarantees that
tenants can consume utilities at a higher rate leaving landlords with more
expenses and bills to pay.

bill, as much as it goes towards protecting tenants, does not however, leave
landlords happy; majorly, because of the above stated issues.