OAR 863-024-0063
Property Manager License Transfers, Principal Brokers’ Responsibilities, Authority to Use Registered Business Name

(1) As used in this rule:
(a) “Authorized licensee” means a licensed property manager or principal real estate broker who has authority and is responsible for a registered business name;
(b) “License transfer application” means an online application that does one of the following:
(A) Transfers a property manager license to a receiving principal broker or receiving property manager in order to become associated with the receiving principal broker or receiving property manager, or
(B) Authorizes a licensed property manager to use a registered business name to conduct the management of rental real estate.
(c) “Sending principal broker” means the principal real estate broker with whom an active property manager license is associated before the license transfer;
(d) “Sending property manager” means the licensed property manager with whom an active property manager license is associated before the license transfer;
(e) “Receiving principal broker” means the principal real estate broker with whom an active property manager license will be associated after the license transfer.
(f) “Receiving property manager" means the licensed property manager with whom an active property manager license will be associated after the license transfer.
(2) An online license transfer application, available through the Agency’s website, includes:
(a) The name and license number of the property manager licensee who is being transferred;
(b) The name of the receiving principal broker, receiving property manager, or authorized licensee, license number, date, signature, and attestation or the authorized use of the registered business name.
(3) A principal broker or licensed property manager with whom a property manager licensee is associated remains responsible for the associated licensee’s management of rental real estate until the Agency receives one of the following:
(a) An online inactivation application available through the Agency’s website; or
(b) An online license transfer application and fee.
(4) If a sending principal broker or sending property manager with whom a licensed property manager is associated doesn’t complete the online inactivation process, the sending principal broker or sending property manager remains responsible for the associated licensee’s subsequent management of rental real estate until the Agency receives one of the following:
(a) An online inactivation application available through the Agency’s website; or
(b) An online license transfer application and fee; or
(c) An online registered business name application and fee initiated by the transferring licensed property manager.
(5) The Agency will document the registered business name under which a property manager licensee is authorized to conduct management of rental real estate when the Agency receives an online license transfer application or new registered business name application and the fee authorized by ORS 696.270 (Fees).

Source: Rule 863-024-0063 — Property Manager License Transfers, Principal Brokers’ Responsibilities, Authority to Use Registered Business Name, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=863-024-0063.

Last Updated

Jun. 8, 2021

Rule 863-024-0063’s source at or​.us