The latest news of interest to multifamily housing investors in Oregon and Washington.
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Wednesday, March 29, 2017
Possible Changes Ahead for Housing Choice Landlord Guarantee Fund
According to an article in the Portland Mercury, the Housing Choice Landlord Guarantee Fund is running out of money, and state legislators and landlords alike are worrying about the consequences. The fund was created in 2013 in conjunction with a law that banned discrimination against tenants based on source of income, as a way to insure that landlords would be compensated if damage caused by a tenant was more than the tenant could afford to repay. As of January, the fund only had $115,000 remaining. Oregon Speaker of the House Tina Kotek is blaming the shortfall on "abuses" by landlords. She has introduced House Bill 2944, which requires landlords to prove to a judge rather than a clerk that they are owed the damages they seek. Read more.