What is Senate Bill 608?
The new Oregon rent control law will likely have a multitude of effects. The main likely effects will be to protect vulnerable tenants, reduce the profitability for certain rental units, and increase litigation surrounding evictions. The legislature, in finding that quick increases in the rental market were causing additional issues in the housing market, decided to put a cap on increases in rent within a 12 month period. The allowed increase is 7% over an inflation number generated for products on the West Coast in the fall on a yearly basis.
What does Senate Bill 608 Mean for Portland Tenants?
In order to keep landlords from being able to simply evict a tenant and raise the rent on a new tenant, the legislature ended the ability for landlords to terminate tenancies for no reason or cause.
What does Senate Bill 608 Mean for Portland Landlords?
While this protects tenants and the value of their leaseholds, it also means that landlords who have problem tenants – tenants who cannot get along with other tenants, cause continuing minor disturbances, etc. – cannot just no-cause evict them. Landlords will have to either make a deal with such tenants to leave or be prepared to show that there has been a material violation of the rental agreement or other tenant duties. Also, certain properties will have bigger issues with getting brought into compliance with habitability standards.
For any landlord who has a derelict property and has been getting by on accepting low rents, there is a real risk of being on the hook to make repairs that cost more than any rental income while also being unable to end the tenancies for the derelict building.
How Can The Bridge Law Firm Help with Senate Bill 608 Issues?
If you are a Portland, Oregon Landlord or Tenant affected by Senate Bill 608, The Bridge Law Firm can help you assess your situation and advise you on your best options.
If you are a Portland, Oregon Landlord or Tenant affected by Senate Bill 608
Contact us to help you assess your options.