Nev. Admin. Code § 645.800 - Permit to engage in property management: General requirements; fees; effective date
1. A person who
wishes to obtain a permit to engage in property management must submit to the
Division:
(a) A completed application on a
form prescribed by the Division;
(b) A fee of $40; and
(c) A certificate of completion, in a form
that is satisfactory to the Division, that indicates the person's successful
completion of the 24 classroom hours of instruction in property management
required by paragraph (a) of subsection 2 of
NRS
645.6052.
2. The 24 classroom hours of instruction in
property management required pursuant to paragraph (a) of subsection 2 of
NRS
645.6052 must include, without limitation:
(a) Four hours of instruction relating to:
(1) Contracts for management
services;
(2) Leases of real
property;
(3) Applications to rent
real property;
(4) The Fair Credit
Reporting Act,
15 U.S.C.
§§
1681 et seq.; and
(b) Two
hours of instruction relating to the maintenance of records of money deposited
in trust accounts and the requirements for reporting to the Division set forth
in chapter 645 of NRS;
(c) One hour
of instruction relating to the use of a computerized system for
bookkeeping;
(d) Two hours of
instruction relating to the laws of this State governing property
management;
(e) Two hours of
instruction relating to the disclosure of required information in real estate
transactions, including, without limitation:
(1) Disclosures required pursuant to
NRS
645.252; and
(2) Disclosures related to environmental
issues as governed by state and federal law;
(f) Five hours of instruction relating to:
(1) The Americans with Disabilities Act of
1990,
42 U.S.C. §§
12101 et seq.;
(2) The Residential Landlord and Tenant Act
as set forth in chapter 118A of NRS;
(3) The Nevada Fair Housing Law as set forth
in chapter 118 of NRS; and
(4)
State and federal law governing unlawful discrimination based on sex,
including, without limitation, sexual harassment;
(g) Three hours of instruction relating to
property management for a common-interest community as set forth in chapter 116
of NRS;
(h) One hour of instruction
relating to the duties and responsibilities of a real estate broker, including
the supervision of employees and real estate salespersons and real estate
broker-salespersons associated with the real estate broker;
(i) Two hours of instruction relating to risk
management, including, without limitation:
(1)
The maintenance of real property;
(2) The health and safety of a
tenant;
(3) Fire
insurance;
(4) Rental insurance;
and
(5) Disability insurance;
and
(j) Two hours
relating to the management of commercial property.
3. The Division may accept a course in
property management from a nationally recognized or accredited organization to
fulfill the requirements set forth in paragraphs (a), (b), (c), (h), (i) and
(j) of subsection 2, if the successful completion of that course would qualify
the applicant to engage in property management pursuant to the requirements of
that organization.
4. The applicant
must complete the hours of instruction set forth in paragraphs (d), (e), (f)
and (g) of subsection 2 at an accredited educational institution in this
State.
5. A permit to engage in
property management initially issued by the Division is effective on the date
the application for the permit is submitted to the Division or the date on
which the fee for the permit is paid, whichever occurs later.
6. As used in this section and paragraph (a)
of subsection 2 of
NRS
645.6052, the Commission will interpret the
term "successfully completed" or "successful completion" to include, without
limitation, passing an examination which is prepared and administered by an
organization designated by the Division, with a score of at least 75 percent
that:
(a) Includes the subject matter
presented in the hours of instruction required pursuant to subsection 2;
and
(b) Consists of at least 50
multiple-choice questions.
The fee for the examination is $75.
Notes
NRS 645.190, 645.6052
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