The Oregon State Legislature convened on Monday, February 5th for the 2024 Session. As the session is only now starting, there are only a few bills thus far that merit attention. One of these, the one that seems to warrant concern, is House Bill 4126. HB 4126 would repel the current prohibition on local rent control. 

Currently, in the state of Oregon, rent control in any form can only be imposed on the state level but is prohibited on the city level. House Bill 4126 would alter that, allowing cities and counties to impose regulations intended to increase the supply of lower-cost housing units (rent control).

If HB 4126 makes it through committee, it will be passed by the House and the Senate. As is the norm, it is marked as an emergency, effective upon passage.

The Eugene Housing Policy Board is already out of control and wreaking havoc on the local market. With this additional power in their hands, it would be a catastrophe. The bill is currently in the House Committee on Housing and Homelessness.

While this is one bill, the legislative session has only just started. There will be more. Empire will continue to monitor new bills as they are submitted and will endeavor to keep our owners up-to-date as the session progresses.

As always, Happy Landlording!