This is another reason why Democrats should never hold power.
Oregon’s governor signed the first statewide rent control billin the country.
Among the bill’s provisions is a measure restricting landlords from raising rent more than 7 percent above the Consumer Price Index in a 12-month period. An exception applies to buildings that have been occupied fewer than 15 years.
That’s right, if you own a building, or want to buy one in Oregon that has been occupied longer than 15 years, as the owner, they are restricting your right to charge what the market will bear.
And if that wasn’t bad enough here are other things the bill does:
Restricts when and how a landlord can evict people. It appears during the first year it’s more lenient, but you let someone rent for more than a year – essentially you are screwed and can only evict if they have three vilations of the rental/lease agreement.
Oregon realators summation of what the law includes.
Now say you’ve had a renter for 13 months and you now “illegally” evict them? They automatically must be paid 3 months rent and can ask for actual damages (not sure what they heck those would be).
Even if it’s for certain causes listed in the law – landlord STILL has to pay the tenant one months rent.
Here’s what I see happening:
I see landlords raising all rents the maximum allowed each year.
I see landlords kicking people out before the 1 year time frame for making it expensive to do so
I see older apartments not getting care and maintenence they need and becomeing “slums”
I would hope someone challenges this in court. I don’t see how any court would uphold this as a constitutional.
Here is the actual law if you want to read it (I’ve found most of the provisions listed in the summery, and a few other things not listed)