Oregon Passes Statewide Rent Control Measure
Salem, OR, March 4, 2019-Oregon Governor Kate Brown signed the nation's first statewide mandatory rent control measure on February 28, presenting a victory to advocates who say spiraling rent costs in the economically booming state have fueled homelessness and housing insecurity, reports KATU.
“Landlords are now limited to increases once per year that cannot exceed 7% plus the change in the consumer price index, which is used to calculate inflation.
“New York has a statewide rent control law, but cities can choose whether to participate. California restricts the ability of cities to impose rent control. Last November, voters defeated a ballot initiative that would have overturned that law.”
This action will likely impact flooring dealers in the state, particularly those who service property management.