Oregon Housing and Community services has extended the application deadline for the landlord compensation fund program to 4pm on Friday, March 5, 2021. OHCS has also provided resources to help applicants complete their applications, including:
Thursday, February 25, 2021
Wednesday, February 24, 2021
Oregon Landlord Compensation Fund FAQ
Frequently Asked Questions
- Owners may apply immediately online for Oregon's $150 million rental owner
compensation fund.
- Oregon
Housing & Community Services provided a FAQ sheet regarding that fund on
February 3, 2021, along with a Fund Modeling Matrix and Scoring Sheet
for rental owners.
Multifamily NW posed these additional common
questions to Oregon Housing & Community Services and received the following
answers:
Q. Total Rent Debt Calculation - I understand that tenants who’ve vacated will not generate
funding for the landlord, but can those former tenants be included in the
“Total Rent Debt” calculations for the months they were tenants, for the
purpose of awarding points to the application? For larger properties,
this is a material consideration. Where tenants have moved out with huge balances
in previous months, those landlords could have significantly improved their
chances of obtaining assistance for their remaining tenants.
A. Yes, we will include former tenants in the scoring
for the total rent debt
Q. Building Wide Noticing - Could you clarify if this program requires any building-wide
noticing, or is the landlord in compliance by providing Declaration of
Financial Hardships only to tenants in arrears.
A. This building notice can JUST go to tenants in
arrears!
Q. Data Privacy - Questions about data privacy,
particularly for tenants currently paying, are still looming large.
A. We are not requesting household
name, email, or phone for tenants that are not in arrears – meaning, we would
just be needing to see the unit number and the rent owed / rent paid. We
are working on an update to our rent roll sheet to better reflect this and
include instructions on what to include in those fields in this case.
Note, in examining the Landlord
Compensation Fund information, Multifamily NW noted that there is a chart
summarizing the point system associated with the weighting factors for Rent
Debt and # of units. Multifamily NW noted that "Larger buildings with 10-15%
uncollected rents have very low points awarded to them."
Call to Action: Oregon Rental Owners Must Contact Legislators in Support of SB 330 Before Tuesday, March 2nd Public Hearing
Oregon Senate Housing & Development Committee Hearing on SB 330 is Tuesday, March 2 at 1 pm. YOUR TESTIMONY IS NEEDED!
- SB
330 establishes income tax credits for forgiveness of a tenant's past due
rent or other charges by a housing provider. Non-Oregon taxpayers who
forgive rent may sell their credits to others who can use them. Coupling
this tax credit with robust direct assistance through emergency housing
vouchers and the housing provider compensation fund will address Oregon's
COVID-19 rental housing crisis.
Click here to
read the text of the bill.
Hearing Details:
Who: Senate Committee on Housing and Development
When: Tuesday, March 2, 1 pm
Link to hearing page
How to testify: The best way is to share your story with the senate committee
members and explain why SB 330 needs their support.
We also encourage you to share the
following messages:
- SB 330 provides immediate protection to renters, relief to
housing providers, and it is workable for the state’s budget situation.
- If the state fails to act, housing instability and rent prices
will rise while Oregon’s rental housing inventory will implode.
- It is clear that the need for direct assistance will surpass the
funding available, therefore I support Senator Betsy Johnson's plan to
address Oregon’s housing crisis. Please pass SB 330 without delay.
HOW TO TESTIFY
The most effective way to connect
with the committee is to testify live virtually during the hearing, then
submitting your testimony for the record in writing as well.
Testify Virtually:
- All legislative public hearings are held on Microsoft Teams. If
you have not testified remotely before, make sure to visit the
Legislature’s “How to Testify Remotely” web page and review the
instructions carefully.
- Registration
is required to testify by phone or video link. To sign up, use this online
form. Click here.
Registration closes at the time the meeting is scheduled to begin.Your testimony will be uploaded to OLIS as part of the public legislative record: more information.
Testify In writing:
You can also submit written testimony either electronically:
Electronic: Click here.
By Mail: 900 Court Street NE, Salem, OR
97301
(Source: MultifamilyNW)
U.S. Economy's Post-Pandemic Boom?
The New York Times reports this week that while the economy remains stuck in a pandemic winter of boarded-up stores, high unemployment and slow job growth, attention is shifting in Washington and Wall Street to a post-COVID boom.
As retail sales jump, a survey of economists this month by the Federal Reserve Bank of Philadelphia predicted U.S. output will increase 4.5% this year - the best performance since 1999. Goldman Sachs is forecasting 6.8% growth with 4.1% unemployment by December.
Monday, February 22, 2021
U.S. Census: Portland and Seattle Rank Middle-of-the-Pack in Rental Vacancy Rates Among U.S. Metros
Of the top 75 metro areas, Portland ranked #18 with a vacancy rate of 4.6% for Q4 2020, up 1.4% from a year earlier.
Seattle ranked #16 among the top U.S. metro areas, with a 4.4% vacancy rate, down 1.2% from Q4 2019.
U.S. Rental Vacancies Tighten
The average national rental vacancy rate for Q4 2020 was 6.5 percent for multifamily dwellings of five or more units -- up from 6.4% a year earlier, despite considerable delivery of multifamily units throughout the national market.
Year-over-year vacancy rates in the Western U.S. increased from 4.4% in Q4 2019 to 4.7% in 2020.
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| Click to Enlarge |
U.S. Homeownership Rates
After falling to a 26-year low in 2016, the homeownership rate now stands at 65.8%. Homeownership in the West has remained flat in the past year at 60.4%.
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| Click to Enlarge |
February 22 2021 mixdown
This week: Oregon’s rental owner reimbursement fund has opened for claims; wealthy neighborhoods continue to attempt to evade higher density through historic designations; a recent research roundup reveals a preponderance of evidence supporting the premise that increased market-rate housing makes all neighborhood rents more affordable.
Research Roundup: New Market-Rate Housing Makes Nearby Housing More Affordable
UCLA Lewis Center for Regional Policy studies has released a roundup of recent research studying the effect of market-rate development on neighborhood rents.
The paper revealed that of six research studies conducted in the past two years, five found that market-rate housing makes nearby housing more affordable across the income distribution of rental units, while one found mixed results. Download the full twenty-page report here.
Friday, February 19, 2021
Oregon Landlord Compensation Fund Now Accepting Applications
The Oregonian reports that as of Wednesday, February 17, the state of Oregon's new landlord compensation fund opened its first application round. Landlords can apply for relief covering 80% of lost rent, but are required to forgive the remaining 20%. $50 million will be distributed through the first funding round. Oregon Housing and Community Services expects there to be 3 separate funding rounds before the end of June. Read more.
Tuesday, February 16, 2021
Complete Updated Guide to Proposed Washington State Housing Legislation
Where legislation has a financial impact on the state budget, it must receive a second hearing in a fiscal committee in order to move forward. Fiscal committees consider all proposals that affect the state budget, and these committees are permitted one additional week (until Feb. 22) to pass policy after the first cutoff.
Overall, the majority of landlord/tenant bills moved from their policy committee as well as additional tax related proposals. WMFHA has been heavily engaged in every proposal affecting the landlord/tenant relationship and continues to engage on all proposals that remain under consideration
Download an important guide to the status of this year's House and Senate bills.
Monday, February 15, 2021
HFO Multifamily Marketwatch - February 15, 2021
This week: mind-boggling amounts of money needed to offset potential economic damage from unpaid rents and Multifamily NW urges rental providers to contact state legislators to support SB 330, which would provide a tax credit for unpaid rents.
Call to Action: Support Oregon SB 330 - Tax Credits for Rental Owners
Click here to find your Oregon representatives.
Remind your representatives:
- Renters and housing providers have faced massive uncertainty over the last year with no clear plan by the state for how to resolve the COVID-19 rental housing crisis.
- The state legislature needs to move quickly to get the maximum amount of assistance in the hands of renters and housing providers as soon as possible.
- We know that the need for assistance will surpass the funding available, therefore we support Senator Betsy Johnson's plan to address Oregon’s housing crisis. Please pass SB 330 without delay.
State of Oregon Eviction Moratorium: Anticipated and Observed Impacts
Johnson Economics has prepared a whitepaper on the state's eviction moratorium. Click here to download this 13-page analysis. Johnson's paper explains the current and future impacts to Oregon's housing supply if the back due rent issue is not addressed.
The Californians are Coming. So is Their Housing Crisis.
The New York Times published an article on February 12 describing Idaho as a great economic success story: low unemployment and high-income growth. But that success comes at a price. What's been happening in Oregon for decades has come to Idaho: an influx of Californians. Idaho is now one of the fastest-growing states in the country, as measured by census data, moving vans, and local resentment. Read more.
U.S. Apartment Rent Payments at 79.2% in Early February
Realpage Analytics reports that apartment rent payments in the United States stood at 79.2% in early February, down nearly 2% from one year earlier. Read more.
Thursday, February 11, 2021
Rent Vouchers, Not Eviction Moratoriums, Are Best for Tenants and Rental Owners
In his article, posted here, Dufault argues that rent vouchers keep tenants from falling behind on payments, and provide property owners the income they need to pay their mortgages and other bills, while an eviction moratorium does neither. He urges Washington residents to contact their legislators to encourage them to work to create a rental voucher program for people affected by COVID-19.
HUD Plans to Investigate Tenant Complaints of Discrimination based on Gender Identity and Sexual Orientation
The US Department of Housing and Urban Development is working to fulfill an executive order signed by President Joe Biden on his first day in office. The HUD plans to investigate complaints from tenants nationwide who claim they were discriminated against due to their gender identity or sexual orientation. Since February 2020, the HUD has received around 200 such complaints. The executive order was part of a broader effort President Biden is undertaking to review the role of the federal government in promoting housing discrimination. Read more.
Tuesday, February 9, 2021
Oregon House Bill 4401 - Rental Owner Eviction Moratorium Explained
After adopting a patchwork of eviction moratoriums, the state of Oregon adopted HB 4401 in a special legislative session. This statewide eviction moratorium took effect on December 23, 2020. Evictions for non-payment are now prohibited until the end of June 2021. All back rent is also due at that time.
Ball Janik Partner Ciarian Connelly is featured in this video. Runtime is 29:15.
HB 4401 allocated $150 million for landlords (with priority to owners of fewer units). An online application will be required and the rental owner will be required to forgive 20% of rent in exchange for 80% reimbursement of the tenant's obligations. (Note: this online application portal has not been made available as of February 9th.)
Evictions for cause are still allowed. As are evictions for renovation, demolishing, a unit, or needing it vacated for yourself or a family member to occupy it. Sufficient legal notice is required in all those cases.
Monday, February 8, 2021
Protests, Pandemic, Red Tape Cited as Reasons for Multifamily Housing Slowdown inside Portland City Limits
Last year saw an "astonishing" drop in the number of multifamily housing permit applications, according to an investigation by The Oregonian. The City of Portland Bureau of Development Services saw permit applications for just 2,000 multifamily units, the lowest in more than 10 years. Commercial permits dropped by more than 40 percent from a 2016 peak. After the City of Portland implemented an inclusionary housing policy effective February 1, 2017, developers rushed to get applications approved before the deadline. Multifamily permits have been in a steady decline since, with the pandemic, and last summer's disruptive protests downtown seen as complicating factors.
Highlights of Portland annual building permits:
- 2009: 6,354
- 2016: 10,792
- 2020: 6,205
Portlanders Face Likely Water/Sewer Rate Increases of 5% on July 1
The proposed annual hike - about $72 - comes as many Portlanders struggle to pay for basic utilities.
Portland's new $1 billion water treatment plant, maintenance, and costs of environmental compliance are cited as reasons for the increase.
Just three years ago an average household paid $200 less annually for water and sewer costs.
Medium and low-income residents can obtain utility assistance from the City of Portland by calling 503-823-7770.
HFO Multifamily Marketwatch - February 8, 2021
This week: Portland’s stunning slowdown in multifamily permit applications; Washington State’s legislature kicking the tires on housing legislation; and renters across the country struggle to hold it together while awaiting help from the federal government.
Thursday, February 4, 2021
$200 Million for Tenants & Rental Owners Relief in Oregon Coming Soon
In December, Oregon lawmakers allocated $200 million toward rent assistance to help renters and small rental owners struggling in the pandemic. $150 million of those funds are set aside for landlords with smaller rental owners given preference. Rental owners who receive funds must agree to forgive 20% of past-due rent. Fund details are here.
A report commissioned by the National Council of State Housing Finance Agencies estimated in September that Oregon renters would miss between $249 and $378 million in rent payments by January 2021.
It's pretty clear that the $150 million will not be nearly enough for either rental providers or Oregon tenants.
[Article updated 2/15/2021 to add a link to State of Oregon website to apply for rental housing funding.]
Monday, February 1, 2021
Rental Housing Bill Update for Washington State Legislature (Week 3)
Week 3 of the legislative session (and the last week of January) was busy. There were three hearings in the House of Representatives on proposed legislation that would impact rental housing operations.
Last week…
- Senate Bill 5139 on rent control was scheduled for its second hearing on Thursday but was pulled from the hearing and no vote was taken.
- House Bill 1236 was heard on Tuesday. This proposal would enact statewide just cause eviction requirements, and as drafted eliminate the fixed-term lease. WMFHA members testified in opposition to this proposal as written. The proposal is scheduled for its second committee hearing on Thursday at 1:30 pm.
- House Bill 1228, introduced by Representative Barkis, received a hearing on Thursday. This common-sense gradual path towards normality received significant public interest, with more than 1,600 people signing in pro or con. Thank you to all who took action and showed support for this proposal. The proposal is scheduled for its second committee hearing on Thursday at 1:30 pm.
- House Bill 1300 receives a hearing on Thursday, February 4th. This bill would make drastic changes to the return of the security deposit and create onerous requirements to provide a litany of documents and specific statement of deductions and would prohibit charging for carpet cleaning and the termination of the tenancy. Time for public testimony was cut short, but WMFHA members' testimony was provided to the committee voicing our opposition to the policy as written. This proposal is also scheduled for its second committee hearing on Thursday at 1:30 pm.
Now that each bill has received a hearing, stakeholders will propose amendments and work on the language of the legislation.
On rental assistance, the state and some local jurisdictions have received federal rental assistance funds. BUT prior to distributing those funds, the U.S. Department of Treasury must issue guidance on how to administer and provide rental assistance. Treasury has not released its Guidance yet. We’re learning that some of the requirements to access these rental assistance dollars will be to provide more information verifying the tenancy and the delinquency. We do not expect these rental assistance funds to be available prior to March.
Thank you again to each of our grassroots advocates who provided time last week to voice their opposition to or support of certain legislation, and to each of you who signed in SUPPORT of House bill 1228.
HFO Multifamily Marketwatch - February 1, 2021
The Oregon legislature is in session with competing housing priorities; both Washington State and the City of Seattle consider phasing out gas heating in new buildings. Experts at the Urban Institute claim that even a new round of stimulus checks will not be enough to avert a housing crisis.
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