September 15, the State of Oregon's Office of Economic Analysis announced the rent increase rate for 2022 can be no higher than 9.9%. In 2021 the max increase was 9.2%.
"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 web page and update it yearly by the end of September, to display the annual maximum rent increase allowed in Oregon. The Oregon Rent Stabilization website is:
https://www.oregon.gov/das/OEA/Pages/Rent-stabilization.aspx "
If a rental housing provider increases the rent above 9.9%, SB 608 specifies a penalty of 3 months’ rent, actual damages sustained by the tenant, and potential attorney fees and legal costs.
However there may be limited exemptions to the rent cap for affordable housing providers and for new construction so be sure to call your local Association Helpline if you have questions or contact an attorney for any policy change or decisions regarding residential and commercial Landlord-Tenant matters.
We are here to help connect you with those resources so please reach out with any questions you may have.
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- Information gathered in this post is from the Oregon Rental Housing Association, Inc.
