Governor Kate Brown Friday signed a bill into law that activates the country’s first-ever statewide Rent Control Law. The new law doesn’t stop all heavy rent increases but it stops a big percentage of them. The maximum allowable rent increase for the 2019 calendar year is 10.3%. The Department of Administrative Services will calculate and post the percentage for the 2020 calendar year by Sept. 30, 2019 Here’s the story in The Oregonian. Click here.
By the way, Governor Brown also signed strategic legislation to boost construction of affordable housing around the state. Today, Governor Kate Brown not only signed Senate Bill 608, which provides protections for renters related to no-cause evictions and rent increases. At the same time, the Governor called for additional investments to stabilize the housing market and increase the supply of affordable homes.
“This legislation will provide some immediate relief to Oregonians struggling to keep up with rising rents and a tight rental market,” the Governor said. “But it does not work alone. It will take much more to ensure that every Oregonian, in communities large and small, has access to housing choices that allow them and their families to thrive.”
The Governor’s 2019-21 budget includes $400 million in new investments aimed at ending homelessness for Oregon’s children, providing permanent supportive housing for the chronically homeless, housing Oregon’s veterans, and accelerating the growth of housing supply by tripling the existing pipeline of affordable housing by 2023.