Landlord/Tenant rent increase question

I've rented my current house in Portland for about 2 years. I've been on a month to month for almost a year. The owners of the house recently turned the landlord duties over to a Property Management Company. Just a few days ago I get a call from them saying they want me to sign a new lease. The problem is they are trying to raise my monthly rent from $1325 to $1400. From what I've read, with a month to month agreement there is a 30 day notice required for a rent increase. My notice is less than 2 weeks. Then there's the new law passed in Portland effective November 13, 2015 (Chapter 30.01 Affordable Housing Preservation and Portland Renter Protections) stating that a 90 day written notice is required if the rent is raised 5% or more. I know they're doing something wrong and I don't want to sign a lease with an unlawful rent increase. Has anyone experienced this recently? Are there any landlord loopholes that I'm missing? Does anyone have any advice?