What does 'rent control' in Oregon refer to?

'Rent control' in Oregon primarily refers to regulations that restrict how much rent can be increased annually. The law aims to provide stability for tenants by capping annual rent increases, which helps to make housing more affordable and protects renters from sudden and significant spikes in their rent. This framework is designed to balance the needs of landlords to earn a reasonable return on their investment with the necessity for tenants to have predictable housing costs.

In the context of Oregon's laws, rent control establishes specific guidelines for how much landlords can increase rent, usually set as a percentage tied to inflation or a set amount, ensuring that tenants are not subjected to excessive increases that can lead to displacement. This understanding of rent control aligns with many states' approaches to safeguarding renters while fostering a healthy rental market.