Are there restrictions on how much I can charge for rent on my condo unit?

Yes, there are restrictions on how much you can charge for rent on your condo unit in Oregon. Under Oregon law, all landlords must follow the state’s rent control laws. This means that landlords are limited in how much they can raise the rent each year on any given condo unit. First, the landlord must provide the tenant with a written notice of the rent increase at least 90 days prior to the increase going into effect. Second, the rent increase must be based upon the Consumer Price Index, which is typically a maximum of 3.3%, or the landlord must provide evidence of increased costs in the operation of the rental property. If the increase is greater than 7% in any 12-month period, the tenant may request a rent adjustment hearing with the local rent board. In addition, landlords cannot charge more than the standard market rent for the unit. They must also follow local city or county laws that may place a cap on how much rent can be charged. Finally, Oregon law also requires that landlords provide a minimum of 30 days’ notice before raising the rent on a month-to-month rental.

Related FAQs

What is the process for changing the rules and regulations of a condo association?
What is the process for holding a condo association meeting?
What is the process for electing a new condo board?
What can I do if my neighbor is causing a nuisance in my condo complex?
What are the requirements for installing a fence in a condo complex?
Where can I find more information about condo laws and regulations?
Is the condo association responsible for taking care of shared areas in the complex?
What are the rules for shared spaces in a condo complex?
What are the restrictions on using common areas in a condo complex?
Are there restrictions on how I can use my condo unit?

Are there restrictions on how much I can charge for rent on my condo unit?

Related FAQs

Related Blog Posts