In 2023, the Oregon legislature handed Home Invoice 2004, which applied a statewide hire management measure that may take impact in 2025. This legislation limits annual hire will increase to 7% plus inflation, or a most of 10%. It additionally prohibits no-cause evictions and permits tenants to terminate their lease early if they supply 30 days’ discover and pay a $1,200 charge.
The brand new legislation is meant to assist handle Oregon’s housing affordability disaster, which has been exacerbated by the state’s quickly rising rents. In recent times, rents in Oregon have elevated at a fee that far outpaces inflation, making it more and more troublesome for low- and moderate-income residents to seek out reasonably priced housing. The hire management measure is designed to gradual the speed of hire will increase and make it simpler for tenants to remain of their houses.
