Property owners may have a chance to recover lost revenue
The Oregon House has passed
SB 278 to extend eviction protections for tenants who applied for renters assistance. Added to the bill is an amendment negotiated by House Republicans that will allow property owners to seek the full amount of rent deferred by the COVID-19 emergency.
This part of the amendment reads:
The Housing and Community Services Department shall make distributions to adjust the compensation under section 2 (1), chapter 3, Oregon Laws 2020 (third special session), for landlords whose applications were approved before the effective date of this 2021 Act without
requiring that the landlord submit an additional application.
A previous bill,
HB 4401, required property owners to forgive 20 percent of rent when the state reopens. Now they will be able to get the full amount of rent lost in order to repay mortgage loans, cover deferred maintenance or necessary repairs, and pay for property taxes. The Oregon Legislature passed
$150 million in compensation for housing providers, but that was not enough to cover the losses.
“It’s important that we help Oregonians recover, and that includes property owners who kept people housed during the pandemic,†said House Republican Leader Christine Drazan (R-Canby). “We have to make a promise that Oregon will continue to be a state with sensible housing policies that allow property owners to collect rent in order operate. We can’t afford an exodus of landlords which will exacerbate the housing crisis.â€
Photo by Zachary Keimig on Unsplash
--Staff ReportsPost Date: 2021-06-18 07:08:11 | Last Update: 2021-06-17 16:14:37 |