The latest news of interest to multifamily housing investors in Oregon and Washington.
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Friday, July 14, 2017
Portland City Council Passes "Fixes" to Renter Relocation Law
The Portland Mercury reports that the Portland City Council has voted to address some outstanding issues with the renter relocation ordinance. The revisions give tenants 45 days to request payments, up from 14 days, and gives landlords 31 days to provide payment. After a rent increase goes into affect, tenants now have six months to decide whether to give notice that they will leave or choose to stay and repay the relocation money. The Council also closed the "loophole" that allowed landlords who owned their properties under different LLCs to evade having to pay relocation costs. The new revision disregards the form of ownership under which a landlord operates. The law sunsets in October of this year, but the Council is working on a longer-term version. Read more.