Rent Increase Notices In Oregon – What Can Tenants Expect?
The rental market in Oregon has changed dramatically over the last year and more tenants are receiving rent increases than ever before.
Thankfully, tenants are protected in the State Of Oregon, especially when it comes to rent increases.
In this article, we will share with you more information about rent increases so that you will know what to expect, if you think you will be receiving one.
Rent Increase Notices In Oregon
Due to recent changes in Oregon legislation which were introduced in 2019, a landlord may not increase rent within the first year of tenancy but after the first year, they may increase rent so long as the appropriate notice is provided.
Should a landlord increase the rent, they may only do so as long as the increase is capped at 7% plus the consumer price index (CPI).
Most tenants in Oregon have month-to-month rental agreements. In this type of tenancy, tenants pay rent once a month and the rental agreement continues until either the tenant or the landlord decides to end it. In a month-to-month tenancy, rent cannot be increased during the first year after the tenancy begins. At any time after the first year of tenancy, rent can be increased only with a written notice delivered to the tenant at least 90 days before the effective date of the rent increase.
The other common type of tenancy is a fixed-term tenancy for a definite amount of time. A rental agreement for a fixed term is called a lease. Usually, a lease will state the amount of rent the tenant must pay while the lease is in effect. A lease may also list a method for increasing rent during the term. If the lease does not specify a method for increasing the rent, no change in the rent can be made during the fixed term of the lease. And, as with month-to-month tenancies, rent cannot be increased during the first year of a fixed-term tenancy. After the first year of the tenancy, rent can only be increased as specified in the lease, and with at least 90 days’ written notice before the effective date of the rent increase. If the fixed term expires, but neither party renews it and the tenant does not move out, then the lease converts to a month-to-month tenancy and rent can be increased thereafter with a 90-day written notice (after the first year of tenancy).
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Our team specializes in property management for Portland, Beaverton, and surrounding areas, saving owners the time, money, and hassle of managing their properties themselves.
To learn more about the property management services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.