Portland's new screening and security rule
I would like to get some feedback on the new screening rule and security deposit rule for landlords in Portland. We are planning on investing in rental properties in the area. However, looking at this recent policies, I'm a bit concerned.
Quote: "The ordinance sets “low-barrier” screening criteria for landlords to use when they evaluate a renter’s application. It would limit checks to felony convictions within the past seven years and misdemeanors within the last three years. Renters wouldn’t be rejected for credit scores below 500, a court eviction order older than three years or insufficient credit history."
Apparently landlord can write an explanation on why they will reject certain tenant without adopting the low-barrier screening criteria but it will add additional step to the process.
What the detail will look like for this policy is unknown at this point maybe until later this year.