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O15 : LATE FEE/RENTER’S INSURANCE

CHANGE IN TERMS

 

Required entries are indicated by blue icons or *

et al (and all others)





Late Fee Change Notice

If Rent is not received by midnight of the 4th day of the Monthly Rental Period, or other agreed-upon grace period of no less than four days as indicated in the Written Rental Agreement, you are responsible to pay a Late Fee.

Your Current Late Fee Type and Amount is: 
Type: 
Amount:
 
Beginning on
 
(no less than 30 days from delivery of this notice),
your new Late Fee Type and amount will be:

Renter's Insurance Requirement Notice

Each member of your household must be included on a policy or have their own stand-alone policy that provides a minimum of $100,000 in liability coverage and names Owner/Agent as an Interested Party on the policy for the purposes of Notification of Failure to Maintain Coverage, reduction of the minimum required liability coverage, or removal of Owner/Agent named below as an Interested Party.

Each member of the household must obtain and continuously maintain coverage as listed above and provide proof of insurance to Owner/Agent no later than 11:59 p.m. on:
 

Failure to obtain coverage, maintain coverage or provide proof of exemption may result in termination of tenancy as allowed by law.


Required Disclosure

A Landlord may not require a Tenant to obtain or maintain Renter’s Liability Insurance if the household income of the Tenant(s) is equal to or less than 50 percent of the area median income, adjusted for family size as measured up to a five-person family, as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development. Visit https://www.huduser.gov/portal/datasets/il.html to view income guidelines for your county and family size.

A Landlord may not require a Tenant to obtain or maintain Renter’s Liability Insurance if the Dwelling Unit of the Tenant(s) has been subsidized with public funds, including federal or state tax credits, federal block grants authorized in the HOME Investment Partnerships Act under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended, or the Community Development Block Grant program authorized in the Housing and Community Development Act of 1974, as amended, project-based federal Rent subsidy payments under 42 U.S.C. 1437f and tax-exempt bonds. Not including Tenant-based federal Rent subsidy payments under the Housing Choice Voucher Program authorized by 42 U.S.C. 1437f or any other local, state or federal rental housing assistance.

 

Please Note: Signature field must be filled in and signed after printing.

Owner/Agent Signature:   Date:

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PO Box 20862, Keizer, OR 97307
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