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If you are planning to become a property manager in Oregon, one of the requirements you need to fulfill is obtaining a property management license. This license is issued by the Oregon Real Estate Agency and is mandatory for anyone who wishes to engage in property management activities.
The process of obtaining a property management license in Oregon can be quite daunting, especially if you are not familiar with the state’s laws and regulations. In this blog post, we will provide you with all the information you need to know about property management license Oregon.
What is Property Management?
Before we dive into the specifics of property management license Oregon, it’s important to understand what property management is all about. Property management refers to the administration of residential, commercial, and industrial real estate properties. A property manager is responsible for ensuring that the property is well-maintained, tenants are satisfied, and rent is collected on time.
Who Needs a Property Management License in Oregon?
If you are involved in property management activities in Oregon, you need to obtain a property management license. This includes individuals or companies who:
- Manage rental properties on behalf of owners
- Manage condominium or homeowner associations
- Manage commercial properties
It’s important to note that property management license Oregon is separate from a real estate license. While a real estate license allows you to buy, sell, and lease properties, a property management license is specifically for property management activities.
Requirements for Obtaining a Property Management License in Oregon
To obtain a property management license in Oregon, you need to fulfill the following requirements:
| Requirement | Description |
|---|---|
| Age | You must be at least 18 years old |
| Education | You must have at least a high school diploma or equivalent |
| Experience | You must have at least two years of experience in property management or related field |
| Pre-license education | You must complete 60 hours of pre-license education from an approved provider |
| License exam | You must pass the Oregon Property Manager License Exam |
| Background check | You must undergo a criminal background check |
Once you have fulfilled all the requirements, you can submit your application for a property management license. The application fee is $230, and the license is valid for two years.
Continuing Education Requirements
To renew your property management license in Oregon, you need to complete continuing education courses. You must complete at least 30 hours of continuing education, including three hours of Oregon Law and Rule Required Course (LARRC) and three hours of real estate agency course.
Benefits of Obtaining a Property Management License in Oregon
Obtaining a property management license in Oregon comes with several benefits, including:
- Increased credibility: A property management license shows that you have the knowledge and expertise to manage properties professionally.
- Expanded job opportunities: With a property management license, you can work for property management companies or start your own property management business.
- Higher earning potential: Property managers with a license can charge higher fees than those without a license.
- Access to resources: Property management license holders have access to industry resources and networks that can help them improve their skills and knowledge.
How to Prepare for the Property Management License Exam
The property management license exam covers various topics related to property management, including property management principles, leasing and tenant relations, maintenance and repair, and legal issues. To prepare for the exam, you can:
- Enroll in a pre-license education course
- Study the Oregon Property Manager Candidate Handbook
- Take practice exams to familiarize yourself with the exam format and content
Common Questions About Property Management License Oregon
How long does it take to obtain a property management license in Oregon?
The time it takes to obtain a property management license in Oregon depends on several factors, including how quickly you complete the pre-license education, how long it takes for your background check to be processed, and how soon you schedule and pass the license exam. On average, the process can take anywhere from 4-6 months.
Can I apply for a property management license if I have a criminal record?
Having a criminal record does not automatically disqualify you from obtaining a property management license in Oregon. However, the Oregon Real Estate Agency will review your criminal record and determine if it poses a risk to the public. It’s best to be upfront about your criminal record and provide any necessary documentation to support your application.
Do I need a property management license if I only manage my own properties?
If you only manage your own properties, you do not need a property management license in Oregon. However, if you manage properties on behalf of others, you need to obtain a license.
Conclusion
Obtaining a property management license in Oregon is an essential step for anyone who wishes to engage in property management activities. By fulfilling the state’s requirements and passing the license exam, you can gain credibility, expand your job opportunities, and increase your earning potential. If you have any questions about property management license Oregon, feel free to contact the Oregon Real Estate Agency for more information.
