Relating to charges in lieu of security deposit.

SB 158 allows Oregon landlords and tenants to agree to a recurring charge (paid with rent) instead of a traditional security deposit. This charge must be optional, fully or partially refundable, and clearly disclosed in writing before payment - detailing its amount, refund terms, and the tenant’s right to choose a security deposit instead. Landlords cannot combine this charge with a security deposit, and it cannot be used to evict tenants for nonpayment (unlike rent). The bill clarifies that such charges are not considered security deposits under Oregon law, meaning they don’t trigger the same legal requirements for handling, refunds, or claims for damages. It directly affects renters and landlords in Oregon rental agreements.