Tuesday, July 26, 2016
An Overview of the Property Manager License Process
As the owner and president of Salem, Oregon-based Commercial Property Resources, Inc., and a licensed property manager, Paul Kerley manages 1,000-plus residential units throughout the region. Paul Kerley also owns several limited liability companies that purchase properties around Salem. One of his companies recently purchased all of the rental properties in the unincorporated community of Grand Ronde.
As established by the Oregon State Legislature, someone applying for a property manager license must be at least 18 years of age and have a high school degree or equivalent. After applying for the license, potential real estate managers must complete a 60-hour, pre-license-education course at an approved school. Covering the basics of property management, the course does not qualify the applicant for the license by itself, but it lays the foundation to take the state Real Estate Agency exam.
Proctored by PSI Services, LLC, the property manager exam covers topics ranging from state license and agency laws to tenant relations and fair housing laws, as well as important risk management and maintenance topics. The test’s sections are designed to ensure that the potential real estate manager has the knowledge he or she needs to take care of the property and its tenants in a safe, responsible manner.