ATTENTION OREGON REALTORS®
We’re less than a month into the 2019 Legislative session and one of the most controversial bills introduced has been scheduled for a public hearing and work session. The Oregon Senate is about to take an unprecedented action by passing this well-intentioned, but ill-conceived legislation out of committee without entertaining a single reasonable amendment! This bill was drafted in secret by a small group of legislators and radical activists. Aside from our rational objections to rent control policies, the bill has numerous errors that must be addressed though amendments.
Together, we must:
- Address the root cause of the housing shortage rather passing the entire economic burden to property owners.
- Address the provision mandating relocation payments for departing tenants, particularly at the end of a fixed-term tenancy.
- Eliminate the unworkable timelines for purchasers of single-family homes who intend to live in the home: Mortgage lending timelines require occupancy by the purchaser within 30 days. The bill pushes all vacancy timelines out to 90 days and exposes new homeowners to significantly higher interest rates and refinancing fees within the first three months of purchasing a home.
- Remove provisions that implement vacancy control.
- Modify the bill so that it addresses the “bad actors” and not the majority of property owners that have excellent relationships with their renters.
- If enacted by the Governor, the “Emergency Clause” [read: immediate inaction of the law upon signature] will expose numerous property owners to significant legal liability with no time to learn how to comply with the new law.
Together, we can beat this poorly conceived legislation! Please help us take action and tell your Senator your opposition on Senate Bill 608!
The Oregon Association of REALTORS® has been working in good faith with members of the Legislative Assembly for years to address structural problems that have contributed to our housing shortage. We will continue to work with stakeholders and elected officials on positive solutions that do not cause further harm to our existing housing crisis.
Call for Action – Help us stop SB 608 – state-wide rent control!
REALTOR® Party: Vote, Act, Invest!