The Multifamily NW team is ready, willing and eager to serve you...remotely! Paper forms are being shipped out weekly on Thursdays and virtual opportunities are happening regularly. Also, RentalFormsCenter.com and TenantTech.com are open 24/7 for immediate access to the Multifamily NW Forms Collection. Visit the MFNW COVID-19 Resource Center for the latest news and updates.

Oregon Released Maximum Rent Increase for 2021

Posted By: Jonathan Clay Central Oregon , Industry News , Mid-Willamette Valley , Portland , SWV News ,

On September 17th, the State of Oregon’s Office of Economic Analysis debuted the maximum rent increase rate for 2021 to be 9.2%. SB 608 set the maximum rent increase formula to be 7% plus the West Coast Consumer Price Index, which changes every year. For 2020 the maximum increase was 9.9%. For 2019 the maximum increase was 10.3%.

Once SB 608 passed in February of 2019 ushering in the first in the nation statewide rent control, it mandated that the state of Oregon create a webpage and update it yearly by the end of September, to display the annual maximum rent increase allowed in Oregon: https://www.oregon.gov/das/OEA/Pages/Rent-stabilization.aspx

If a rental housing provider happens to increase the rent above maximum amount allowed, SB 608 specifies a penalty of 3 months’ rent, actual damages sustained by the tenant, and potential attorney fees and legal costs.

The only exemptions to this maximum rent increase limit are:

  1. Properties with a certificate of occupancy less than 15 years old, or
  2. Properties providing reduced rent to the tenant as part of any federal, state, or local program or subsidy (Section 8 Housing Choice Vouchers not applicable).

The debut of this annual figure is somewhat muted by the uncertainly of the COVID-19 pandemic and the various temporary measures in place designed to stabilize renters that can change at any time.

  • Oregon’s statewide eviction moratorium outlined in HB 4213 passed in June 2020
  • City of Portland’s recent mandate that any rent increase effective through March 2021 may trigger their Relocation Assistance payment
  • The CDC’s federal eviction moratorium in effect through December 31, 2020 covering residents who offer a written affidavit of financial hardship from the COVID-19 pandemic

This informational article is not intended to be legal advice. You will want to consult with your landlord/tenant law attorney to review options and ensure compliance with applicable law and regulations.