Monday, June 17, 2019

Multifamily NW: Portland's New Tenant Screening Will Likely Lead to Increased Homelessness

In an op-ed, Multifamily NW stated that Portland will likely see homelessness rates increase as a result of additional evictions caused by the reduction in rent-to-income ratios.

For decades, many landlords and banks have held firm to the standard that a person should not rent a unit or buy a home that is more than 30% of gross income. The new standard set by Portland would be 50% of gross income. For people living paycheck to paycheck, any bump in the road in terms of a medical emergency, job loss or other emergency situation could lead to there not being enough savings to avoid eviction. Evictions follow a renter around for three years, which will make re-renting even more difficult for someone in that situation.

Read the op-ed piece here. 

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