Portland Tenant Union Wins $3.6 Million Rent Settlement

The Trelawny Tenants Union reached a $3.6 million settlement on October 18, 2026, with Portland landlord Geoffrey Rice over claims that he raised rents above the limits set by the city's rent control ordinance, Realtor.com reported.

Under the agreement, which followed about 20 hours of mediation, Rice will place the money in escrow. Roughly $2.86 million will go back to more than 1,000 current and former tenants to cover rent they overpaid since June 2020. Another $250,000 is earmarked as a penalty payable to Portland's city government, $230,000 will cover the union's past and future costs, and $260,000 is set aside as contingency.

Rice also agreed to reset rents at his 19 Portland properties, which hold more than 300 units, to the levels that complied with the ordinance as of December 1, 2022. In exchange, the union will not bring further complaints over past violations and will help bring rents into compliance.

Portland's ordinance, effective January 1, 2021, ties annual increases to 70% of the Greater Boston consumer price index change, capped at 10%. Allowable increases have run below 3% since 2024, and the 2027 figure is 2.6%.

Rice declined to comment, according to Realtor.com.

This story was first reported by Real Estate.