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OR SB158
Bill
AI Summary
- Landlords may offer tenants the option to pay a recurring charge instead of a traditional security deposit, with tenant agreement required through a separately signed disclosure
- Landlords can use the recurring charge to purchase insurance coverage from a licensed insurer for unpaid rent or property damage
- Required disclosures include the charge amount, payment schedule, that the charge is optional, the alternative security deposit amount, refund terms, and that tenant obligations remain unchanged
- The recurring charge cannot be combined with a security deposit, and any existing security deposit must be returned before collecting the new charge
- Nonpayment of the recurring charge is grounds for lease termination for cause but not for nonpayment of rent, and the charge is not subject to security deposit regulations under ORS 90.300
Legislative Description
Relating to charges in lieu of security deposit.
Last Action
In committee upon adjournment.
6/27/2025
Committee Referrals
Housing and Development1/17/2025
Full Bill Text
No bill text available