Oregon lawmakers approved a bill Saturday to cap the amount landlords can increase rent on existing tenants to no more than 10% a year, sending it to Gov. Tina Kotek for final approval.
Oregon Annual Rent Cap Bill 10% Increase Approves By Legislature (PHOTO: Tiner Properties)
10% Increase In Oregon Annual Rent Cap Bill Approves By Legislature
Saturday, the Oregon lawmakers approved a bill that caps the amount landlords and landlady can increase on tenants existing rent to no more than 10% a year, this bill will still need the final approval of Governor Tina Kotek.
Senate Bill 611 limits the increase of the rent to 7% plus the inflation of 10% which is lower. Last Tuesday this bill already passed the Senate with a vote of 17-8 and then received an approval vote of 32-18 in the House last Saturday. According to some of the lawmakers, they can relate to this bill because they are also landlords.
Ten House members did not vote on this because they are excused from voting.
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Annual Rent Cap Bill Approves By Legislature Will Increase Into 10%
An east Portland Democrat, Andrea Valderrama, said that the measure will help people in their homes, especially those in low-income households, and children can stay in the same school. She said that Landlords can raise rents as much as they wish between tenants. A Salem Democrat, Kevin Mannix said that the state is undermining its need to increase some housing supplies. With last year’s runaway inflation, the rent cap allowed the landlords to raise some rents by as much as 14.6%. The updated rent cap policy wouldn’t apply to buildings built less than 15 years ago.
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