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RPH will obtain a credit report and Criminal Background check and rental history for each applicant and co-signer 18 years of age or older. Reports supplied by applicants will not be accepted. Discharged bankruptcies are acceptable. A credit score below 625 could be denied or require additional deposit and co-signer.
Use Schedule E (Form 1040) to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in real estate mortgage investment conduits (REMICs).
Its an essential part of the tenant screening process, typically starting with proof of income. Requiring tenants to confirm proof of income for renting is essential to this objective. Tenant income verification can reduce the risk of missed or late rent payments.
An Oregon standard residential lease agreement is the document that defines the terms of a residential landlord-tenant relationship. It establishes the leases duration (usually one year), the monthly rent, and the rights and responsibilities of the parties.
In Oregon, the allowable annual rent increase is capped at 7% plus the annual inflation rate (CPI), or 10%, whichever is lower. This regulation, established under Senate Bill 608 and later amended by Senate Bill 611, aims to prevent excessive rent hikes.
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Landlord Licensing and Rental Registration in Oregon As a prospective landlord in Oregon, it is vital to comply with local landlord licensing and rental registration requirements to operate your rental business legally.
On July 6, 2023, Oregon Governor Tina Kotek signed a new law into effect that limits rent rate increases to 10%. Prior to the new cap on rate increases that went into effect in July, the 2023 allowable rate limit was 14.6%.

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