A Landlord In Portland Has Increased The Rents Of Low-income Renters By Nearly 50 Percent

Senate Bill 608, which concerns rent regulation in the state of Oregon, states that landlords of new construction buildings in which the certificate of occupancy was given less than 15 years ago may raise rents annually above the limit allowed by the state. In a time when there is a housing crisis across the state, this helps incentivize developers to build more homes by providing an incentive.

In the beginning, the landlord of the property did provide lower rent because they were a participant in a Portland program that gave them tax breaks in exchange for providing a set amount of affordable housing with lower rents in their complex. This program required that the landlord provide a certain number of affordable housing units within their complex.

The nearly fifty percent rent increase is, however, permitted because the city’s tax break program adheres to the state’s rules, which state that owners of buildings that are less than fifteen years old are exempt from the rent cap increase laws. The city’s tax break program is the reason the nearly fifty percent rent increase is permitted.

Landlord In Portland Has Increased The Rents
Landlord In Portland Has Increased The Rents

Senate Bill 608 and the Rent Control Summary published by the Oregon Association of Realtors both contain information regarding further exemptions to the laws governing rent control in the state of Oregon.

You can follow us at www.hillsboro.com for the latest news. If you have any queries or suggestions, you can put them in our comment section by leaving a comment.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top