The latest news of interest to multifamily housing investors in Oregon and Washington.
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Friday, November 18, 2016
Illegal Short-Term Rentals Could Face Hefty Fines from the Bureau of Development Services
Portland's Bureau of Development Services is looking to remove the 30-day grace period for owners who have failed to get the proper permits before renting their homes or apartments on a short-term basis. Additionally, the BDS proposes fines ranging from $1,000 to $5,000 per day depending on whether the owner has been charged with a previous violation. This is a sharp increase from the $707-$1,414 monthly fine that currently exists under Portland's rules governing short-term rentals. Read more.