Landlords Just Failed In Their Attempt to Dismantle Portland's Renter Relocation Law

Comments

1
Landlord posts that rent control will turn Portland into San Francisco in 5, 4, 3, ...
2
Horrible decision.

If you drive over a particular speed, you get fined a particular amount. Apparently this judge wouldn't consider that a speed limit, since he doesn't consider a fine for raising the rent past a certain percentage to be a "rent control."

And yeah, albert, it could be San Francisco, or NYC, or Los Angeles, or Santa Monica, or everywhere else rents are astronomical thanks to rent control provisions. Economists know this with the same consensus as climate scientists agree on climate change.
3
The correct outcome. John DiLorenzo loses yet again.
4
albert an Euphonius must be renters. Greedy cash grab by them at the expense of everyone else, including future renters who will now see even higher prices than ever before.
5
Called it!

Also, rents in SF, etc, are out of control because of supply and demand, not rent control.
6
Wow Albert, you "called it." that's because it's a completely reasoned argument to suggest that something historically problematic in other cities will repeat itself in our city.

Be careful what you wish for. All this will do with my few rentals is automatically trigger a 9.99% annual increase to offset a future problem. I normally go a couple years without raising rents at all. And it'll stop more development in Portland. I already purchased a Plex in Vancouver because Portland is getting onerous. The tenants will always pay more when demand outpaces supply.

Ironically, you don't realize that RC also manipulates the market to further restrict supply,while every other renter subsidizes it. But whatever, I already own so you'll find out soon enough.
7
If we're making easy calls to pretend we're clever, albert will soon be priced out of Portland, and won't realize the irony. Calling it now.
8
this will also probably make small landlords (who own a few houses or whatever) get out of the business. A lot of those new apartments might become condos. The market always wins. People will take their investments elsewhere. It's not hard to figure out unless you are on city council, it seems.
I have been and am a landlord in another city (because we moved from there and it was easier to keep something than sell quickly) -- and I would never ever think to become a landlord in Portland. it just wouldn't be worth it. Which means I will invest my money elsewhere. How does that help renters in portland?
10
I feel for renters, my kids can barely afford to live here in Portland. The market is crazy. I was once a renter. But I took a risk, a big risk and bought a place, stretching funds, fixing it up, spending spare cash and weekends on the house. The market was good, I sold it and bought more. I am one of those who is keeping the Portland bungalows alive. I worked p/t and never had much savings except for an extra house or two that I rented below market. I still put my extra cash and labor into them. They are investments. I consider myself a good landlord, yet I am vilified along with rental management companies and slum developers. Not only do I need to keep my house in shape, I now have to worry about a relocation fee that does not have any flexibility about situations. It just pisses me off . When I gave a tenant 90 days notice that we would be moving into the house when the lease was up, he said he was thinking of moving to Costa Rica. That relocation fee will go far in Central America..... Not a scenario in the new ordinance. I guess its time to get out of the business. So long small bungalows, hello more awful apartments!
11
Yes, librarian, the ordinance that was pushed through by Eudaly and co. without any input or commentary whatsoever from the landlord side (her aides were openly hostile whenever a landlord tried to contact them with input), not to mention simply ignoring decades of established economic and urban/housing policy research, has horrible and unintended consequences for our local Portland market. Who on earth could have seen this coming, except for everyone besides Eudaly, Margot Black, and the selfish group of activist tenants who simply want to lock in their own personal gravy train at the expense of everyone else.