Or. Admin. R. 863-024-0045
Current through Register Vol. 63, No. 8, August 1, 2024
Section 863-024-0045 - Property Manager Licensing Requirements(1) To be eligible for a property manager license, an individual must complete the following steps in the order listed: (a) Submit a license application and pay the fee to the Agency required by OAR 863-024-0010. (b) Successfully complete the required courses of study for a property manager license required by OAR 863-022-0015. (c) Ensure that the school providing the required course of study certifies to the examination provider that the applicant completed the course as required by OAR 863-024-0020. (d) Pass the property manager licensing examination and pay the fee to the examination provider as required by OAR 863-012-0020. (e) Provide fingerprints for a criminal background check and pay the fee to the fingerprint services provider as required by OAR 863-0014-0015. (2) After the applicant meets the requirements under (1) of this rule, the Agency will complete a background check on the applicant, which includes a criminal background check under OAR 863-024-0015. (3) Effective July 1, 2011 to September 14, 2011, after the requirements in (1) and (2) of this rule are met: (a) The applicant must state that the applicant will be conducting professional real estate activity under the applicant's licensed name or is registering a business name as provided in (5) of this rule; or (b) The applicant must submit to the Agency the name and address and authorization of a property manager or principal broker with whom the applicant will be associated and the authorization of the property manager or principal broker to use the registered business name. (4) After the requirements in (1) and (2) of this rule are met: (a) Using an online application through the Agency's website, the applicant must specify whether the applicant will be conducting professional real estate activity under their property manager's licensed name as provided in (5) of this rule or is registering a business name as provided in (6) of this rule; or (5) If an applicant wishes to conduct professional real estate activity under their property manager's licensed name, the applicant must first obtain the property manager license and then complete an online application available through the Agency's website. (6) If an applicant wishes to conduct professional real estate activity under a registered business name registered by the applicant, the applicant must first obtain a property manager license and then register a business name under 863-024-0095. (7) A real estate property manager may only engage in the management of rental real estate. The licensee may not offer to, negotiate, attempt to, or engage in the sale, purchase, lease-option, appraisal, or exchange of real estate for another individual for compensation. The licensee may not charge, pay, receive, or accept a referral fee, finder's fee, or compensation from or share in a commission paid to a real estate broker for any activity involving the sale, purchase, lease-option, appraisal, or exchange of real estate. However, the licensee may charge, pay, receive, or accept a referral fee or finder's fee from or to a real estate broker or another real estate property manager for finding or referring an owner, renter, or lessee in real estate property management activity. (8) A real estate property manager is responsible for all property management activity conducted under the property manager's license and for the actions of the property manager's nonlicensed property management employees. A licensed property manager may not authorize an unlicensed individual to supervise that property manager's licensed activity in the manager's absence. Except as provided for in OAR 863-024-0085, a property manager may not authorize another real estate licensee to supervise that property manager's licensed activity in the property manager's absence. (9) A real estate property manager may be associated with a principal real estate broker to engage in property management activity on behalf of the principal real estate broker and under the supervision of that principal real estate broker. However, a property manager may not act in the broker's absence under OAR 863-024-0085.Or. Admin. R. 863-024-0045
REA 1-2002, f. 5-31-02, cert. ef. 7-1-02; REA 1-2003(Temp), f. 2-27-03, cert. ef. 2-28-03 thru 8-27-03; REA 3-2003, f. 7-28-03, cert. ef. 8-1-03; REA 1-2005, f. 5-5-05, cert. ef. 5-6-05; REA 2-2005(Temp), f. 6-9-05, cert. ef. 7-1-05 thru 12-26-05; Administrative correction 1-20-06; Renumbered from 863-015-0045, REA 7-2008, f. 12-15-08, cert. ef. 1-1-09; REA 1-2010, f. 6-14-10, cert. ef. 7-1-10; REA 3-2011(Temp), f. & cert. ef. 6-22-11 thru 12-1-11; REA 6-2011, f. 8-15-11, cert. ef. 9-1-11; REA 7-2011, f. & cert. ef. 11-15-11; REA 5-2014, f. 4-14-14, cert. ef. 4-28-14Stat. Auth.: ORS 696.385
Stats. Implemented: ORS 696.020 & 696.022