A new Portland housing policy went into effect in October 2017. The law requires landlords to pay tenant a relocation fee if tenants are evicted without cause or if they must move due to a rent increase of more than 10% in a 12-month period. The fee can range from $2,900 to $4,500, depending on the number of bedrooms in the rental. Landlords with only one rental and landlords who are moving back into their homes after an absence of three years or less are exempt. Oregon is considering other measures to protect tenants.
If you own and rental or are listing a rental property for sale or lease, make sure you are aware of local and state laws. This advice applies to all states and local jurisdictions. They are changing regularly!
We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!