What is a Property Manager

What is a Property Manager?

According to the Nevada Real Estate Division and Nevada Revised Statues.

Property Management means the physical, administrative or financial maintenance and management of real property, or the supervision of such activities for a fee commission or other compensation or valuable consideration, pursuant to a property management agreement. NRS 645.019.

Many tenants are confused by the difference between an individual who claims to be a property manager, and one who is licensed to do so in Nevada.

What actions may be taken if unlicensed property management activities
are conducted which require a license?

It is unlawful for any person, limited-liability company, partnership, association or corporation to engage in the business of, act in the capacity of, advertise or assume to act as, a
(a) Real estate broker, real estate broker-salesman or real estate salesman within the State of Nevada without first obtaining the appropriate license from the Real Estate Division as provided for in this chapter; and
(b) Property manager within the State of Nevada without first obtaining from the Real Estate Division a license as a real estate broker, real estate broker-salesman or real estate salesman and a permit to engage in property management. NRS 645.230.

The Real Estate Commission may impose an administrative fine against any person
who knowingly:
(a) Engages or offers to engage in any activity for which a license,
permit, certificate or registration or any type of authorization or any regulation if the
person does not hold the required license, permit, certificate or registration or has not
been given the required authorization; or
(b) Assists or offers to assist another person to commit the above described violation.

The Real Estate Commission may impose an administrative fine for conducting unlicensed property management activity in an amount not to exceed the amount of any gain or economic benefit that the person derived from the violation or $5,000, whichever amount is greater. NRS 645.235.

If you are a tenant you can always check to see if your "property manager" is licensed to do property management. Often unlicensed property managers do not follow landlord tenant laws and you may become a victim if you don't know your rights. Consumer Beware!

Information source from www.red.state.nv.us Bulletin #12
Laura Gamino
www.landlorddefense.com