In Oregon, how long does a property manager have to return a tenant's security deposit after lease termination?

In Oregon, property managers are required to return a tenant's security deposit within 31 days after the termination of the lease, provided there are no damages or other deductions. This timeframe is stipulated in Oregon law to ensure that tenants receive their deposits in a timely manner after moving out. If deductions are necessary for damages or unpaid rent, the property manager must provide an itemized statement of the deductions along with the remaining balance of the deposit within the same 31-day period. Understanding this timeframe is critical for property managers to comply with state regulations and foster a fair rental process for tenants.