Tips For Understanding Rental Late Fees In Oregon
Are you searching for information on late fees and grace periods in Oregon? If so, you’ve come to the right place.
Late fees can be a problem for some tenants because they don’t know what their rights are in the State of Oregon.
Thankfully, the law is very clear when it comes to late fees in Oregon. This is why we’ve written this article, to provide you with a clear understanding of what your rights are as a tenant when you rent a property here.
Understanding Late Fees
In the State of Oregon, landlords may charge three types of fees including a one-time flat fee, a daily fee, and a weekly fee.
These types of fees are typically incurred when a tenant is late paying their rent and most landlords often will start charging late fees at least four days after their tenant’s rents are due.
One-time flat fee – This type of fee can only be charged once during the rental period and it cannot exceed the typical late fee that a landlord may charge.
Daily fee – Landlords can charge a daily fee starting on the fifth day of the rental period. This fee can’t exceed 6 percent of the one-time flat fee that a landlord may charge.
Weekly fee – Another common fee that most landlords charge is the daily fee. This fee can be charged on the 5th day of the rental period and it can’t exceed 5 percent of the tenant’s periodic rent.
If late fees are unpaid, landlords in Oregon may charge interest on those fees but they can’t exceed the interest rate that’s allowed by court judgments.
Note – In Oregon, landlords have the right to evict tenants for unpaid late fees but during COVID-19, evictions have been paused due to the eviction moratorium.
One common thing among landlords in Oregon is that the grace period varies from landlord to landlord.
Some landlords will consider rent to be late if it’s not paid by the 2nd of the month, while others will not consider rent to be late until after the 5th of the month.
To avoid confusion, tenants should make sure that they get their landlord’s grace period in writing so they don’t pay late and incur a late fee because their last landlord gave them until the 5th to pay their rent while their new landlord wants the rent to be paid by the 2nd of the month at the latest.
Contact Rent Portland Homes – Professionals
At Rent Portland Homes – Professionals, we specialize in full-service property management that will save you the time, money, and hassle of managing your rental property yourself.
To learn more about the services that we can offer you, contact us today by calling us at (503) 447-7735 or click here to connect with us online.