Property Management and Leasing
Agreements and trust funds
The management agreement defines scope, spending authority, reporting, and fees, and should state whether the manager may bind the owner. In Oregon, property managers must be licensed by the Oregon Real Estate Agency. Client funds go into a trust account and are never commingled with operating funds; records must reconcile.
Oregon Residential Landlord and Tenant Act
ORS 90 governs most residential tenancies, with narrow exemptions such as certain owner-occupied shared-housing situations and transient lodgings. Landlords must maintain habitability; tenants must pay rent and avoid waste. Entry generally requires at least 24 hours' notice except in emergencies. Oregon sets no statutory dollar cap on the security deposit, but a written receipt is required and the deposit with an itemized accounting must be returned within 31 days. Rent increases require 90 days' written notice and, for covered tenancies, are limited by the statewide annual cap set from CPI. No-cause terminations after the first year are restricted, sometimes with relocation payments.
Commercial leasing
Gross, net, double-net, triple-net, percentage rent, CAM reconciliations, escalations, estoppel certificates, subordination, and the assignment versus sublease distinction (assignment transfers the whole term and privity passes).
Traps
Mixing 24-hour and 48-hour notices; using a 30-day deposit deadline instead of 31; assuming ORS 90 covers commercial leases (it does not); treating abandoned personal property carelessly.
Rule of thumb: when a question involves notice periods, separate entry notice (24 hours), rent increase notice (90 days), and deposit return (31 days).