MEDFORD, Ore.- The end of last year brought some helpful legislation for Oregon’s renters and landlords. But even with the new measures, some say its still not enough to help landlords.
Recent state legislation protects renters from eviction and helps them with rent in the midst of the pandemic. But some say these steps still don’t help landlords in the same position.
“The first nine months, all it was a blanket moratorium so the burden was really on the landlord,” said Dave Wright, the president of CPM Real Estate Services Incorporated. He says the extended eviction moratorium is not a bad thing.
But he says it is only a temporary fix for a larger issue.
“What we don’t want to do is get to the end of the moratorium and have huge balances we are all trying to collect. That doesn’t do anybody any good,” he said.
Right now tenants can complete a financial hardship form and the state will cover a majority of their rent. But it still leaves 20 percent for landlords to forgive- something that may not be manageable for smaller property owners.
Wright is also concerned about that compensation fund running out.
“I’m a little worried. It’s $150 million which sounds like a lot, but it’s for the whole state and for every residential landlord that may have tenants that are behind.”
Even with rent forgiveness, there are still costs that the landlords have the shoulder.
“Still have property taxes, utilities, insurance, maintaining the property,” Wright explained.
Renters and landlords can find out more information about housing during COVID-19 on the state’s website.