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Oregon Lawmakers Ponder Stricter Rent Control Laws After 14.6% Increases April 3, 2023 | Oregon Capital Chronicle F our years after Oregon passed the nation’s first statewide rent control law, state legislators are considering new limits as tenants throughout the state continue receiving notices that they’ll owe hundreds or thousands more in rent each year. The state’s 2019 law limited rent increases on many buildings to no more than 7% plus inflation. High inflation last year meant landlords could hike rent by 14.6% in 2023, and lawmakers are seeking a fix to prevent future double- digit rent increases. As introduced, Senate Bill 611 would cap rent increases at no more than 8% or 3% plus inflation, whichever is less. An amendment the Senate Committee on Housing and Development will consider Monday would change that to the lesser of 10% or 5% plus inflation. The Sherwood apartment complex where Jessica Israel lives with her husband and small child was built in 2014, so the current rent increase cap doesn’t apply. New owners purchased the complex last fall, and Israel described during a news conference earlier in March how the new company plans to charge her family an extra $560 per month — a 32% increase — if she renews her lease. If she doesn’t sign a new lease, she can rent month-to-month — with a 50% increase over her current rent. “We would never think that it is OK for someone to instantaneously lose 32% or 50% of their income, so how can it be allowed as a rent increase?” Israel said. As introduced, the bill would expand the rent control law to cover apartments built more than three years ago. Proposed amendments would restore exemptions to homes built
KENTUCKY DERBY FUNDRAISER 6 MAY 2023 • 1:30PM ROGUE VALLEY COUNTRY CLUB
Junior League of Jackson County Join the
AT THE 2ND ANNUAL KENTUCKY DERBY FUNDRAISER.
HELP US RAISE MONEY TO BENEFIT THE FOLLOWING NON-PROFITS:
Junior League of Jackson County
Jackson County Foster Parent Association
Court Appointed Special Advocates (CASA)
Family Nuturing Center
Community Works - Bee Strong Bags
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within the past 10 or 15 years. Click HERE to read more. n
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The Business Review | March 2024
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