By Living Room Realty, January 27, 2021
As many people already know, there has been a moratorium on evictions during Covid to protect renters who are out of work. While the vast majority of tenants have continued to pay rent in Portland, there have been some that have stopped. Up until now, the only option for landlords was to request a forbearance on their mortgage. This can create a ticking time bomb if the tenant doesn’t eventually catch up on their rent. There has been a lot of talk about the stimulus for renters and workers compensation. However, not much has been done for landlords…until now.
On Monday, December 21st, the Oregon Legislature established the Landlord Compensation Fund (HB 4401). The Legislature allocated $200 million in rent assistance to support tenants and landlords, which includes $150 million for the Landlord Compensation Fund. If you are a landlord suffering from a tenant who stopped paying rent, check out this resource. It might be a great solution for you and your tenant.
