Property Management
Oregon's rent stabilization law under SB 608 allows annual rent increases up to:
A3% per year, regardless of inflation
B5% per year, regardless of inflation
C7% above the Consumer Price Index (CPI) for the area
DCPI + 7%, but capped at 10% total✓ Correct
Explanation
Under Oregon SB 608, landlords may increase rent by no more than 7% plus the local consumer price index (CPI) change in any 12-month period, with the combined total capped at 10%. This is intended to balance landlord needs with tenant stability.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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