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Close a Business

Property management business

eLicense

Log into eLicense under the registered business name account to close your business.

Files and recordkeeping
  • Transfer all current property management agreements and tenant agreements to the property owner or new property manager. All records transferred to the new property manager become the responsibility of that property manager.
  • Keep all other records, including terminated and closed property management agreements, per ORS 696.280.
  • Notify the Agency where records will be stored.
Clients' trust accounts
  • Disburse all funds.
  • Close account(s) at bank.
  • Close account(s) in eLicense.
  • Complete all final accountings.
Signs

Remove all signs and advertising from building(s).

Brokerage business

eLicense

Log into eLicense under the registered business name account to close your business.

Files and recordkeeping
  • Close all active deal files, or transfer them to another brokerage, before closing the business. 
  • Terminate any active listing agreements. 
  • Keep all records per ORS 696.280.
  • If you managed rental property for others:
    • Transfer all current property management agreements and tenant agreements to the property owner or new property manager. All records transferred to the new property manager become the responsibility of that property manager.
    • Keep all other records, including terminated and closed property management agreements, per ORS 696.280.
  • Notify the Agency where records will be stored.
Clients' trust accounts
  • Disburse all funds.
  • Close account(s) at bank.
  • Close account(s) in eLicense.
  • Complete all final accountings for any managed rental real estate.
Signs

Remove all signs and advertising from building(s).