Relating to rent increase limits.

SB 496 removes Oregon's legal limit on annual rent increases for most rental properties. It repeals the specific formula (ORS 90.324) that previously capped rent hikes at a certain percentage, while keeping other requirements like 90-day written notice for increases and a 12-month limit on how often rent can rise. The bill directly affects landlords and tenants in Oregon, particularly for standard rental agreements not covered by existing exemptions (such as affordable housing programs). This change eliminates the percentage restriction but maintains notice and frequency rules for rent adjustments.