OAR 863-022-0015: Course Requirements for Property Manager License Applicants

(1) The course required by OAR 863-024-0045 for real estate property manager license applicants consists of a 60 clock-hour Agency-approved real estate property manager course. The property manager course covers the specialized area of the management of rental real estate, including Oregon’s legal requirements. (a) A course offered by private career schools must be approved by the Agency under OAR 863-022-0030. (b) A course offered by in-state community colleges, colleges, and universities must be approved by the Agency under OAR 863-022-0035. (2) The 60-hour property manager course prepares the applicant for the property manager license examination. To be eligible for credit, the 60-hour course must include 60 clock-hours allocated among topics in the number of hours as follows: (a) (12 hours) Oregon real estate license statutes and administrative rules relating to the management of rental real estate, including requirements of licensees, agency law, and affirmative duties of a property manager. (b) (12 hours) Clients' trust accounts and three-way reconciliation of bank statements, ledgers and record of receipts and disbursements for clients' trust accounts, and security deposits accounts. (c) (12 hours) Tenant relations and fair housing laws, including the Oregon Residential Landlord and Tenant Act and the Fair Credit Reporting Act. (d) (7 hours) Contracts and leases. (e) (6 hours) Risk management and maintenance. (f) (6 hours) Economics and accounting. (g) (5 hours) Real property law. (3) A license applicant must complete the Agency-approved property manager course through a private career school or an in-state community college, college, or university, as those terms are defined in OAR 863-022-0005. (4) To receive credit for a course provided by a private career school, an applicant must complete the course and receive a passing score of at least 75% on a final exam. (5) To receive credit for a course provided by a community college, college or university an applicant must complete the course, including a final examination and achieve a minimum grade of "C" or equivalent. (6) The property manager license applicant course is not eligible for continuing education credit under OAR 863-020-0010.