KTVZ reports that Oregon has become the first in the nation to impose statewide rent control upon landlords. From their report:
“Oregon Gov. Kate Brown has signed the first mandatory statewide rent control bill for the U.S. as the economically booming state struggles to control a spiraling housing crisis.
The Democratic governor at a signing ceremony Thursday said the measure will “provide some immediate relief to Oregonians struggling to keep up with rising rents.”
The law will limit rent increases to 7 percent each year plus inflation. Landlords must also provide just cause before evicting tenants after the first year of occupancy.
The law takes effect immediately because Democrats who control the Legislature say the housing crisis is an emergency.”
The governor announced the following on Twitter:
“Every Oregonian should have access to housing choices that allow them and their families to thrive. Today I signed the country’s first statewide rent control bill, providing immediate relief to Oregonians struggling to keep up with rising rents.”
The bill is 22 pages long. Read it here.
More bureaucracy that will have a very, very minimal impact on Oregon’s homeless crisis. Just ask New York City how that rent control has worked for their homeless crisis.