As many of you know there has been a lot going on in Portland surrounding our industry. As of right now the only law change has been the Mandatory Relocation Fee Ordinance. It’s always had an expiration date, but on February 28, 2018 Portland City Council will be voting on whether to make this a permanent ordinance and if approved how they will amend the law going forward.
If you don’t know the specifics, this ordinance requires landlords with two or more rental units in Portland to pay a relocation fee up to $4,500 to their tenants in certain circumstances. The first thing that can trigger this fee is if a landlord raises their rent by 10% or more in any 12-month rolling period. The other main trigger is tenant no-cause notices to move out. You can also trigger this fee if you make a “substantial” change to the lease agreement.
As a member of the Oversight Committee for this ordinance, I have done my best to speak out on behalf of Portland landlords and investors, but now it’s time for you to take action. This topic will come before the city council on February 28, 2018 at 3 pm at City Hall. If your schedule permits and you want your voice heard, put this on your calendar and plan to show up. You will need to sign up for public testimony when you arrive and most likely they will limit each testimony to two to three minutes. The main topic is whether this ordinance should become permanent, but there are a couple amendments that will most likely come up for a vote. The biggest one is the removal of the 1-unit exemption that currently exists. If you haven’t been paying much attention to this issue because you have been exempt, then you need to attend to have your voice heard before you lose your exemption. How drastically would a $4,500 fee affect you financially? Would this cause you to sell your Portland rental to someone that will live in it rather than keep it as a rental?
As 2018 progresses there will be several ordinances and reforms up for debate that affect landlords in Portland. I will try to keep you updated as best I can, but here are a few websites to bookmark so you don’t miss any opportunities to voice your opinion.
Portland City Council Agenda – www.PortlandOregon.gov/auditor/26997
Portland Rental Services Commission – www.PortlandOregon.gov/phb/75244
My Industry News Blog – www.IRCEnterprises.com/Industry-News