Rental Agreement Laws in Oregon: A Comprehensive Guide
Are you a landlord or tenant in Oregon? If so, it’s important to be aware of the rental agreement laws in the state. Not only will this help you avoid legal issues, but it will also ensure a smooth renting experience for all parties involved. In this article, we’ll discuss the key things you need to know about rental agreement laws in Oregon.
1. Written Agreement Requirement
In Oregon, it’s a legal requirement for rental agreements to be in writing. This means both the landlord and tenant should sign a lease agreement or rental contract that outlines key terms and conditions. The written agreement should contain the names of both parties, the terms of the lease, the rental amount, and the security deposit details.
2. Security Deposit Limit
Landlords in Oregon are allowed to charge a security deposit, which is typically equivalent to one month’s rent. The state sets a cap on the amount of security deposit a landlord can charge – it should not exceed the amount of the rent for one-and-a-half months. Landlords are also required to return the security deposit within 31 days after tenants have vacated the property.
3. Rent Increases Notification
Oregon law requires landlords to notify tenants at least 90 days in advance before increasing the rent amount. Tenants are required to receive written notice of any rent increase, and the notice must be served individually to each tenant or family. Additionally, if the rental agreement has a fixed term, landlords are prohibited from increasing rent during that period.
4. Termination Notice
In Oregon, tenants must provide a written notice of at least 30 days to vacate the property before the end of the lease term. On the other hand, if the landlord wishes to terminate the lease agreement, they must provide a notice of at least 90 days before the termination date. However, this notice period may be shortened if the tenant has violated any part of the agreement.
5. Late Fees
Landlords in Oregon can charge rent late fees, but they must be reasonable. The state sets a maximum limit of 5% of the rent amount or $50 – whichever is less – as the late fee. Rent is considered late if it is not received on the due date stated in the rental agreement.
In conclusion, these are some of the key rental agreement laws in Oregon that you should be aware of. As a landlord or tenant, it’s important to understand your rights and obligations under the law to avoid any legal disputes. If you have any doubts or questions, consulting an attorney or a property management company can also be helpful.