90-Day Rent Increase Notices Sent Before 2023 Legislation Becomes Law
Question: All indications are that the 2023 legislature is going to revisit the rent increase formula currently in effect, and once passed it would likely become law immediately upon the Governor’s signature. How can landlords deal with having already issued a September 2022 90-day rent increase notice if the 2023 rent cap is legislatively reduced before the landlord’s previously-issued September 2022 increase goes into effect?
Answer: Currently, ORS 90.600(2)(b) limits rent increases to 7% plus CPI (“Cap”) for any 12-month