Portland Community College | Portland, Oregon

This course serves three primary audiences. The largest audience includes students seeking to satisfy State of Oregon Real Estate Agency property management requirements for licensing. The course also has satisfied one of the educational requirements in becoming a licensed real estate broker. Many students take the course because the topics covered enhance their ability to effectively manage their own real estate investments. To satisfy the licensing education requirements students must pass (75% score or better) a comprehensive multiple choice final examination.

• Understand the theoretical basis and practical applications of the "agency relationship." This includes the ability to recognize when an agency relationship exists and appreciate the duties and obligations of both the principal and agent.
• Be aware of the concepts of "professional real estate activity" and "professional property management activity," and Oregon licensing requirements related to property management.
• Understand and be able to apply the portions of ORS 696 applying to clients' trust accounts, record keeping, and advertising as related to real estate property management.
• Understand the different types of lease arrangements, how a lease is created and the consequences of a breach of a lease arrangement.
• Be aware of and be able to apply the Oregon Residential Landlord and Tenant Act; including the rights and remedies of landlords and tenants in typical rental situations.
• Appreciate the general principles of operating a property management firm, including bookkeeping, business generation and retention, and management decisions.
• Understand and be able to apply to typical residential property management situations the Civil Rights Act of 1866, Civil Rights Act of 1968 (as amended), Oregon Anti-discrimination laws, and other relevant anti-discrimination laws.

Students will be assessed by any combination of the following:

1. Active participation in class
2. Contextual written tasks (in or outside of class) to assess reading
3. Oral responses to in class hypotheticals
4. Request for real life applications of course material
5. In class, interactive student role-plays
6. Quizzes and practice exams following State of Oregon Real Estate Agency question format
7. Final comprehensive examination patterned after Oregon Real Estate Agency license exam

Include all or most of the following:

1. Agency law
2. ORS 696 as applicable to real estate property management
   1. Professional real estate and professional property management activity
   2. Active and inactive licenses
   3. Clients' trust accounts
   4. Clients' recordkeeping requirements
   5. Advertising
3. OAR 863 as applicable to real estate property management
   1. Clients' trust accounts
   2. Clients' recordkeeping requirements
   3. Advertising
4. Basic law of leases
   1. Types of leases (ie. Gross, net, graduated, land, and percentage)
   2. Consequences of breaching
5. Federal and State of Oregon anti-discrimination laws
   1. Civil Rights Act of 1866
   2. Civil Rights Act of 1968 (Fair Housing law - as amended)
   3. ORS 659
6. Oregon Residential Landlord-Tenant Act
7. Operation of a property management firm
   1. general management concepts and theories
   2. generating and maintaining business
   3. bookkeeping
   4. property management agreements