The latest news of interest to multifamily housing investors in Oregon and Washington.
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Thursday, June 1, 2017
HB 2004 Will Go to Senate Floor without Provision Allowing for Rent Control
In a 4-1 vote on Wednesday, the Senate Committee on Human Services approved changes to HB 2004, including the removal of the provision allowing cities to impose rent stabilization policies. Instead of limiting the amount by which landlords can raise rent, the new language limits the number of times a landlord can raise rent to once per year. HB 2004 still limits the circumstances under which a no-cause eviction can be issued, and requires landlords to pay a month's rent to tenants who face an eviction without cause. The dissenting vote was Senator Tim Knopp, R-Bend, who voted against the bill because it does not address land use restrictions that make it difficult for developers to build affordable housing. The bill will now head to the Senate floor for a vote. Read more.
Meanwhile, the Portland Mercury reported yesterday "A Proposal to Allow Rent Control in Oregon is Probably Dead."