Retiring to Portland (apartments, leases, how much)

[Carolgre]

I recently posted a message regarding retiring to Portland and several people responded that Station Place Apartments in The Pearl District offered relatively inexpensive rents. I e-mailed them and they sent me a package of information about their apartments. What I don't understand, and e-mailed them again for further clarification, is that they offer one-year leases for the first year and then, after that, rent is on a month-to-month basis. There seems to be no option of renewing a lease. Is that par for the course in Portland? It seems there is no protection from monthly rent increases after the first year.

Here in New York, we always have an option of renewing our leases upon expiration of the current lease.

[oldtintype]

I think it's more that they want you to have to STAY for at least a year and after that you can leave at any time. I don't know what the details are exactly but there are controls on how much moderate income units can go up per year. This particular building is also owned by REACH which is a non profit that exists to create affordable housing. So while rent may go up at some point it won't go up drastically. There is no rent control in Portland, and coming from San Francisco I sometimes still find that terrifying, so in many ways, moderate income buildings are the next best thing since the rents can't be raised at a whim. Here's a link to an article about the units: The other Pearl District

[Supernova7]

Originally Posted by oldtintype

I think it's more that they want you to have to STAY for at least a year and after that you can leave at any time. I don't know what the details are exactly but there are controls on how much moderate income units can go up per year. This particular building is also owned by REACH which is a non profit that exists to create affordable housing. So while rent may go up at some point it won't go up drastically. There is no rent control in Portland, and coming from San Francisco I sometimes still find that terrifying, so in many ways, moderate income buildings are the next best thing since the rents can't be raised at a whim. Here's a link to an article about the units: The other Pearl District

No rent control? That's really too bad. If inflation keeps moving at the rate that its going you're going to find many people being thrust in to homelessness. Rent control is a necessity and Portland needs to initiate it.