The latest news of interest to multifamily housing investors in Oregon and Washington.
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Friday, February 3, 2017
Ordinance Requiring Landlords to Pay Relocation Costs Passes in Portland
A city ordinance requiring landlords to pay relocation costs for tenants facing no-cause evictions or rent raises greater than 10% was passed unanimously by the Portland City Council on Thursday. Portland landlords are now required to pay $2,900 to $4,500 in relocation costs in these instances, depending on the size of the unit. The policy will go into immediate effect, and applies to anyone who has received an eviction notice in the last 89 days. Landlords who rent only a single unit are exempt. Commissioner Eudaly referred to the measure as "the next best thing" to a rent freeze. Read more on OPB's website. and on Oregonlive.com.