The May 28 Oregonian/OregonLive article, “Eviction rates climb as protections for Oregon renters dwindle,” tells only one side of the dilemma.
Landlords continue to feel the financial pain of state policies that protect tenants but require landlords to absorb the losses. Even tenants who received emergency rental assistance may still be delinquent in paying for other months that weren’t covered by any assistance dollars.
It is frustrating especially to smaller landlords who are straddled with mortgage payments and burdened by a lack of income from their investment property. They are unable to terminate the tenancy to either sell or re-rent the unit, and they can’t do much about raising old, below-market rents beyond small percentages now prescribed by state law.
Many tenants are equally distressed because they have been incentivized by the state to not pay rent and are unlikely to receive enough assistance even if their applications are approved. Those dollars are drying up and new applications are not being accepted. Meanwhile, the market has tightened up with very few vacancies and higher rents, so tenants are now left with limited alternatives.
How did we get here? The more the market is regulated, the more unintended consequences arise creating more problems. The COVID-19 pandemic was not the only catalyst creating bad regulations.
No wonder so many small landlords are compelled to call it quits and get out of town. We need a break – regulations are driving out small landlords. We need less regulations, not more.
Ron Garcia, Portland
Garcia is the executive director for public policy at Rental Housing Alliance Oregon.