Another option is for landlords to price the additional risk into the rent itself.

But there’s no way you’re going to add risk into the market without that having some effect on pricing.

Which is why, if there's any possibility of a sudden 10x price hike, the rents will start going crazy in advance. Because rent prices don't hike like that unless there's some disaster event, the existing system works well.

Housing is a policy area with a lot of unintended consequences. I honestly don't know how I feel about the Oregon law.

Yes playing with regulations might help some renters to the detriment of others, but on average landlords will probably make the same.