State sets maximum rent increase for this year

In response to the passage of Senate Bill 608, the Oregon Department of Administrative Services on Friday published the current annual maximum rent increase allowed in 2019. The DAS Office of Economic Analysis has calculated the percentage as 10.3 percent.

SB 608, the nation’s first statewide rent control measure, requires DAS to calculate and post to its website, by Sept. 30 of each year, the maximum annual rent increase percentage allowed by statute for the following calendar year.

Because SB 608 has taken effect, it was necessary to calculate the percentage for the current calendar year. Per SB 608, OEA calculates this amount as 7 percent plus the Consumer Price Index for All Urban Consumers, West Region (All Items), as most recently published by the Bureau of Labor Statistics.

As a result, the maximum allowable rent increase for the 2019 calendar year is 10.3%. DAS will calculate and post the percentage for the 2020 calendar year by Sept. 30 of this year.

Information about the maximum annual rent increase percentage, as well as the provisions of ORS 90.323 and 90.600 (statutes governing rent increases), can be found on the OEA website at the link below.

For information on the new law, please see the full text of SB 608 at the link below. DAS noted that it does not provide legal advice regarding other provisions of SB 608.

Links

OEA website with maximum annual rent increase information: https://www.oregon.gov/das/OEA/Pages/Rent-stabilization.aspx Full text of SB 608: https://olis.leg.state.or.us/liz/2019R1/Downloads/MeasureDocument/SB608/Enrolled