By Property Management Systems
There’s no doubt that life has been tough for renters in Portland over the last five years as rents have increased but thanks to the Portland Oregon Relocation Policy renters have finally caught a little break.
With the Portland Oregon Relocation Policy, a landlord must pay between $2,900 to $4,500 if they issue a no cause eviction or refuse to renew their tenant’s lease.
About the Portland Oregon Relocation Policy
Thanks to the booming real estate market in Portland following the end of the “Great Recession”.
Many owners in the city were able to sell their properties to out of state investors who then evicted the tenants, fixed up the properties and resold them for higher profits or rented those properties out for much higher rents them before.
With Portland’s relocation policy every real estate owner who is renting their property is still free to do what they want with it but, if they choose to evict their tenant, not renew their lease, or increase their tenants rent by 10 percent or even more they must pay their tenants relocation costs.
Controversial, But Here to Stay
As expected the new, permanent statute now ropes in landlords who only rent one unit of housing, a major demand of tenant advocates. And the law now requires landlords to report to the city when they pay tenants relocation expenses, or when they plan to claim one of the remaining exemptions in the bill—a move Mayor Ted Wheeler says will help the city track how the policy is working.
In a somewhat recent development, the law even had the unanimous vote required to pass on an “emergency” basis, meaning it goes into effect immediately. Commissioner Amanda Fritz had retained serious doubts about forcing single-unit landlords to abide the policy, but her position changed when City Council agreed to add one additional exemption to the law: Now, landlords who issue a fixed-term lease to a tenant with an explicit understanding that the unit will be converted or sold at a certain point are free of having to pay relocation fees.
The relocation ordinance kicks in when a landlord issues a no-cause eviction (including refusing to renew a lease) or forces a tenant to move with rent increases of 10 percent or more.
Since the law was first suggested by Commissioner Chloe Eudaly in February 2017, landlords have complained that it’s led to property owners selling their rental units, thereby decreasing the amount of rental housing stock in the city. Tenant activists say the law has dramatically cut down on no-cause evictions. To date, there’s been little hard data that backs up either assertion, but that didn’t stop council from extolling the law.
“Today we are making a successful new program permanent,” said Commissioner Nick Fish.
Fritz had a more measured tone. “I’m concerned that some landlords will raise rents by 9.9 percent every year or sell the unit or turn it into an Airbnb,” she said. “I don’t see any of those being in the best interest of renters.” She added, though: “We know it has limited no-cause evictions. We know that is has been crucial for some people.”
The bolstered law council passed today still includes loopholes, including a pass for landlords who want to move immediate family members into a unit, landlords who rent out the other half of a duplex that they also live in, and people who are renting their primary residences for three years or less.
Get Portland Oregon Property Management
There’s no doubt that owning Portland Oregon Rental property is getting more complicated in 2018 thanks to new laws and regulations.
Thankfully, when you hire a Portland Oregon property management company like Property Management Systems you can count on us to professionally manage your rental property for you for the most money possible while making sure that your best interests as an owner are represented.
Some of the many services we can offer you include rent collection, customer service, maintenance, tenant screening, tenant placement and so much more!
To learn more about the property management services we can offer you contact us today at (503) 515-3170 or click here to connect with us online.
