NAC645.802. Permit to engage in property management: Requirements and fee for renewal; effective date of renewal; date of expiration.

     1. The Division may renew a permit to engage in property management if the holder of the permit submits to the Division:

     (a) A request for the renewal of the permit with the holder’s application to renew his or her license as a real estate broker, real estate broker-salesperson or real estate salesperson;

     (b) A renewal fee of $40; and

     (c) Documentation of his or her successful completion of the requirements for continuing education required by paragraph (a) of subsection 4 of NRS 645.6052.

     2. The hours of continuing education used to fulfill the requirements set forth in paragraph (c) of subsection 1 must include:

     (a) Instruction relating to any amendments to the laws of this State governing property management; and

     (b) If the holder of the permit is a manager of a common-interest community pursuant to chapters 116 and 116A of NAC, 3 hours of instruction relating to the laws of this State that are applicable to the responsibilities and duties involved in the management of a common-interest community.

     3. The renewal of a permit is effective on the date on which the application for renewal of a license is submitted to the Division or on the date on which the renewal fees for the license and the permit are paid, whichever occurs later.

     4. A permit expires on the same date as the holder’s license expires.

     (Added to NAC by Real Estate Comm’n by R059-98, eff. 7-1-98; A by R136-99, 4-3-2000)