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Licensed real estate principal brokers, sole practitioner brokers and brokers are allowed to engage in all aspects of professional real estate activity, including property management [ORS 696.010(15)(h)].
Brokers associated with principal brokers can only conduct property management activity under the direct supervision of their principal broker. As with all other professional real estate activity, brokers can only do property management activity for the company with which they are licensed.
Requirement for Property Management
Any broker interested in offering property management services should review Oregon Administrative Rules Chapter 863 Division 25. These rules state the specific requirements for property management activity, including clients' trust accounts, property management agreements and recordkeeping.
Resources and Tools
The Agency's website has required forms and helpful tools available to assist in managing rental real estate, such as:
Although not regulated by the Agency, another important resource for brokers interested in managing residential rental properties is the Oregon Landlord Tenant Law.
For Additional Information
If you have any additional questions, contact the Education Division at (503) 378-4170, selection 3.
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