Which statement accurately describes Oregon's statewide rent stabilization law (SB 608)?
Correct Answer
B) Limits annual rent increases to 7% plus CPI or 10%, whichever is lower, for buildings over 15 years old, and prohibits no-cause evictions after the first year of tenancy
Oregon was the first state to enact statewide rent stabilization (2019). Under SB 608, codified at ORS 90.323, annual rent increases are capped at 7% plus the consumer price index (CPI) or 10%, whichever is lower, for residential units in buildings more than 15 years old. The law also prohibits no-cause evictions after the first year of tenancy. Newer buildings (15 years old or less) are exempt from the rent cap. Licensees should verify the current cap percentage with OREA or ORS 90.323, as the formula is subject to annual adjustment.
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Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
Community property is a system where property acquired during a marriage is owned equally by both spouses.
A freehold estate represents ownership of real property with an indefinite duration.
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