Inflation Will Have The Most Influence On Oregon House Rent In 2023

Oregon House Rent: The Oregon Senate measure that addressed rent hikes and was ultimately approved in 2019 might still have an effect in 2023. And it may be especially challenging for those who are dependent upon a fixed income.

According to Senate Bill 608, often known as the “No Cause Eviction Protection and Rent Cap” bill, landlords in the state of Oregon are permitted to raise the rent by 7% plus the rate of inflation. Because inflation has been so high for such a long time, this might result in a rise of up to 14.6%.

Inflation Will Have The Most Influence On Oregon Rent In 2023

Tenant Justin Metzler expressed his frustration with the rising cost of rent by saying that it is “very challenging.” Only apartment complexes that are 15 years old or older are eligible for the limit. The rent at properties that were built in the last ten years or so can be increased by the landlords at will.

Read More:-

Molly Heiss, a representative for NeighborImpact, stated that the year 2023 is the first year in which a higher rent ceiling would be implemented as a result of inflation. The maximum allowable rise in rent across the state was set at 7%, in addition to the west coast consumer price index, thanks to Senate Bill 608. If you pay $1,000 per month for rent and multiply that number by 0.146, your new monthly rent might be $146 more than it was before. This is explained more simply in the following example.

Inflation Will Have The Most Influence On Oregon House Rent In 2023
Inflation Will Have The Most Influence On Oregon House Rent In 2023

According to Heiss, her primary concern is for those who live on a fixed income. They bring in around $733, $788, and maybe $812 each month. According to Heiss, the perfect amount of rent for them to pay in order to avoid feeling overwhelmed is $252 per month. Heiss recommends getting in touch with the Legal Aid Services of Oregon if you have questions or concerns regarding your rental agreement.

Read More:-

You can visit focushillsboro.com for the latest information and news. If you have any queries or suggestions can put them in our comment section.

About The Author

Leave a Comment

Your email address will not be published.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

Scroll to Top