Oregon Administrative Code

863-024-0063 Property Manager License Transfers, Principal Brokers’ Responsibilities, Authority to Use Registered Business Name (1) As used in this rule "License transfer application" means an online application that does one of the following: (a) Transfers a property manager lic…

863-024-0065 Inactive License, License Reactivation (1) A property manager licensee whose license is on inactive status may not engage in management of rental real estate. (2) The Commissioner may reprimand, suspend, revoke, or impose a civil penalty against an inactive licensee …

863-024-0066 Licensee Name Change A licensee may apply for a name change by submitting to the Agency: (1) An online name change application and payment of the fee authorized under ORS 696.270; and (2) Legal proof of the name change, which must be in the form of an official record…

863-024-0067 Alternative Name Registration (1) "Alternative name" means a name a licensee is known by that is not the licensee’s licensed name. (2) A registered alternative name shall contain at a minimum one first name and one last name or surname. (3) A licensee may apply to re…

863-024-0070 License Surrender (1) A licensed property manager may surrender the licensee's license to the Commissioner on an Agency-approved form. Upon surrender, the license is terminated, and the licensee’s rights under the surrendered license are terminated. The Commissioner …

863-024-0075 Reissuing Suspended License (1) The Agency may reissue an unexpired property manager license that has been suspended by order of the Commissioner if the licensee asks that it be reissued and pays the required fee within 30 days after the close of the suspension perio…

863-024-0076 Signature Requirements (1) Subject to ORS 84.001 to 84.061, the Agency may, but is not required to, accept any electronic or facsimile signature created, generated, sent, communicated, received, or stored regarding licensing documents including, but not limited to, b…

863-024-0085 Authorization to Control Property Manager’s Business (1) A real estate property manager may authorize another real estate property manager to control and supervise his or her business managing rental real estate during the real estate property manager’s absence for a…

863-024-0095 Business Name Registration (1) Before managing rental real estate in any name, a licensed property manager or principal broker must first register the business name with the Agency using the online process available through the Agency’s website. For the purposes of t…

863-024-0097 Registered Business Name Renewal (1) Only an authorized principal broker or licensed property manager can submit a registered business name renewal application and pay the fee using an online application process, which will be available through the Agency’s website. …

863-024-0100 Branch Office Registration (1) Before a real estate property manager may engage in the management of rental real estate from a branch office, the real estate property manager must provide to the Commissioner an online application available through the Agency’s websit…

863-024-0120 Deceased or Incapacitated Property Manager (1) If the Commissioner issues a temporary license to an unlicensed person under ORS 696.205, the licensee’s activities may be limited to winding up the affairs of the deceased or incapacitated managing principal broker or l…

863-025-0005 Application and Purpose (1) OAR 863-025-0010 to 863-025-0080 apply to the activities of a real estate property manager in the management of rental real estate. (2) The purposes of OAR 863-025-0010 to 863-025-0080 are: (a) To specify requirements for the management of…

863-025-0010 Definitions In addition to the definitions used in ORS 696.010 and OAR 863-015-0120, as used in OAR 863-025-0015 to 863-025-0080, unless the context requires otherwise: (1) “Agency” means the Real Estate Agency. (2) “Audit trail” means a documented history of a finan…

863-025-0015 Written Policies and Delegation of Authority (1) Each property manager must develop, maintain, and follow written policies for persons and activities under this rule. (2) Each policy must state the effective date of the policy. (3) Policies must specify the duties, r…

863-025-0020 Property Management Agreements (1) A property manager must not engage in the management of rental real estate without a written, unexpired property management agreement between the owner and the property manager. (2) A property management agreement must include, but …

863-025-0025 Clients' Trust Account and Security Deposits Account Requirements (1) All clients’ trust accounts and security deposits trust accounts must be labeled on all bank records and checks as: (a) “Clients’ Trust Account” or “Client Trust Account”; or (b) “Clients’ Trust Ac…

863-025-0027 Handling Disbursements (1) If interest earned in a clients' trust account under OAR 863-025-0025(5)(b) or in a security deposits account under OAR 863-025-0025(8)(b) inures to the benefit of the property manager, such interest must be disbursed to the property manage…

863-025-0028 Clients’ Trust Account Records and Reconciliation (1) The monthly cycle for a clients' trust account or security deposits account may begin and end on a stipulated date every month, if the date is consistent from month to month. (2) A property manager must reconcile …

863-025-0030 Tenant Security Deposits (1) Except as provided in section (3) of this rule, all tenants' security deposits received by a property manager must be deposited and maintained in a security deposits account until: (a) The property manager forwards the tenant's security d…

863-025-0035 Records; Required Records; Maintenance; Production (1) The property manager's records of the management of rental real estate are “complete and adequate” as required under ORS 696.280 if the records contain, at least, the following: (a) A legible copy of each execute…

863-025-0040 Record of Receipts and Disbursements (1) Except as provided in section (4) of this rule, a property manager must prepare and maintain a chronological record of receipts and disbursements or a check register for each client's trust account and each security deposits a…

863-025-0045 Tenant Agreements (1) Residential Property. The property manager must file and maintain legible copies of all tenant rental or lease agreements for the time period required under OAR 863-025-0035. Each tenant rental or lease agreement prepared by a property manager f…

863-025-0050 Tenant Ledger (1) Except as provided in section (3) of this rule, a property manager must prepare and maintain at least one tenant's ledger for each tenant or individual from whom the property manager has received any funds under a property management agreement, whet…

863-025-0055 Owner Ledger (1) A property manager must prepare and maintain at least one separate owner's ledger for each property management agreement, for all funds received and disbursed. (2) If a property manager maintains a separate client's trust account for a single owner p…

863-025-0060 Cash Receipts (1) A property manager must prepare a legible written receipt for any cash funds received under a property management agreement. (2) If a property management agreement states that the property manager is responsible for collecting cash from machines loc…

863-025-0065 Deposits and Funds Received (1) When a property management agreement and a corresponding lease or rental agreement provide that the security deposit will be transferred to and held by the owner, the security deposit funds must be: (a) Deposited in the clients' trust …

863-025-0068 Owner Information Request (1) Upon written request from a property owner, a property manager must deliver to the owner the information listed in subsections (a) through (e) of this section for each tenant within five business days of actually receiving the request fo…

863-025-0070 Termination, Transfer of Property Management (1) If a property management agreement is terminated, the property manager must terminate property management activity pursuant to the terms of the property management agreement and this rule. (2) Not later than 60 days af…

863-025-0080 Compliance Reviews (1) The Agency will provide a property manager with written notice at least five business days before conducting a compliance review. (2) A compliance review is completed when the Agency delivers a written notice of completion to the property manag…

863-025-0090 Reconciliation Review (1) The Agency will conduct clients’ trust account reconciliation reviews. (2) The Agency will provide a property manager with written notice of a clients’ trust account reconciliation review at least 10 business days before required information…

863-025-0125 Advertising (1) As used in this rule, "advertising" and "advertisement" include all forms of meaningful communication by or on behalf of a property manager designed to attract the public to the use of services related to the management of rental real estate. This inc…

863-027-0000 Applicability and Purpose This division applies to real estate licensees. It describes the methods and procedures the Agency will use to investigate complaints and the process the Agency will follow when taking disciplinary action. Statutory/Other Authority: ORS 696.…

863-027-0005 Definitions As used in this division, unless the context requires otherwise, the following definitions apply: (1) "Agency" is defined in ORS 696.010. (2) "Commissioner" is defined in ORS 696.010. Statutory/Other Authority: ORS 696.385 Statutes/Other Implemented: ORS …

863-027-0010 Investigation of Licensees: Procedures and Reporting (1) The agency shall use the methods and procedures in this rule to investigate complaints that allege grounds for discipline under ORS 696.301. (a) The Real Estate Commissioner, a Real Estate Agency manager, or an…

863-027-0020 Progressive Discipline of Licensees (1) The goal of progressive discipline is to correct a licensee's inappropriate behavior, deter the licensee from repeating the conduct, and educate the licensee to improve compliance with applicable statutes and rules. Progressive…

863-030-0050 Definitions As used in OAR 863-030-0050 to 863-030-0080, unless the context requires otherwise: (1) “Commissioner” means the Real Estate Commissioner. (2) “Agency” means the Real Estate Agency. (3) “Accommodation,” “assessment,” “common expenses,” “developer,” “facil…

863-030-0060 Filing with Commissioner In addition to and at the time of filing the information required by ORS 94.823, the developer of a timeshare plan or the developer's agent shall submit to the commissioner the following: (1) For a timeshare plan having timeshare property com…

863-030-0065 Presales of Timeshare Plans In cases where timeshare sales agreements are executed before the timeshare property is ready and available for use by the purchaser for the timeshare period bargained for in accordance with the timeshare instrument, the developer shall co…

863-030-0075 Exchange Programs (1) A seller or developer who offers an exchange program to a purchaser in conjunction with a timeshare plan shall be responsible for the delivery of the exchange program information, if the offer is made in conjunction with and at the time of the p…

863-030-0080 Promotional Programs In conjunction with the filing required by OAR 863-030-0060, the developer shall maintain and store an outline of any promotional program prepared by the developer for the sale of the timeshare plan, for a period of two years following the date o…

863-035-0000 Application and Purpose (1) This division sets forth the requirements and process for licensing timeshare sales agents, as that term is defined in ORS 696.010. (2) The purpose of this division is to specify the requirements for obtaining a timeshare sales agent licen…

863-035-0010 Definitions As used in this division, unless the context requires otherwise, the following definitions apply to this division: (1) "Agency" means the Real Estate Agency with powers pursuant to ORS 696.385. (2) “Agency-approved form” means an electronic or paper form …

863-035-0020 License Application Content (1) Before the Agency will accept any documents or information relating to an applicant’s qualifications, an applicant for a timeshare sales license must submit an application and pay the fee required under this rule using an online applic…

863-035-0030 Background Check Application and Fingerprint (1) An applicant for a timeshare sales agent license must submit to a background check, except an applicant who is currently licensed as a real estate broker, principal real estate broker, or real estate property manager o…

863-035-0040 Examinations (1) For purposes of this rule, “examination provider” means the vendor, under a contract with the Agency, which provides licensing examination services and collects the fee for such services directly from a license applicant. (2) In addition to any other…

863-035-0050 License Issue, Term and Form (1) The Agency will issue a real estate license to an applicant after determining that the applicant meets the license requirements contained in ORS 696.022 and 696.790, has paid (2) A licensee may engage in professional real estate activ…

863-035-0060 Timeshare Sales Agent Licensing Requirements (1) To be eligible for a timeshare sales agent license, an individual must complete the following steps in the order listed: (a) Submit the required online license application and pay the related fee to the Agency. (b) Suc…

863-035-0070 License Renewal (1) A timeshare sales agent may only submit a license renewal application and pay the fee using an online application process, which is available through the Agency’s website. (2) For purposes of this rule, “received by the Agency” means the date a li…

863-035-0080 Authorization for Armed Forces Servicemembers and Their Spouses or Domestic Partners (1) An active-duty member of the United States Armed Forces who is stationed in this state, or the spouse or domestic partner of such servicemember, may obtain an authorization to co…