1. A person who is licensed pursuant to this chapter as a real estate broker, real estate broker-salesperson or real estate salesperson may apply to the Real Estate Division for a permit to engage in property management.

2. An applicant for a permit must:

(a) Furnish proof satisfactory to the Division that the applicant has successfully completed at least 24 classroom hours of instruction in property management; and

(b) Comply with all other requirements established by the Commission for the issuance of a permit.

3. A permit expires, and may be renewed, at the same time as the license of the holder of the permit.

4. An applicant for the renewal of a permit must:

(a) Furnish proof satisfactory to the Division that the applicant has successfully completed at least 3 of the hours of the continuing education required for the renewal of his or her license pursuant to the regulations adopted by the Commission pursuant to NRS 645.575 in an approved educational course, seminar or conference concerning property management; and

(b) Comply with all other requirements established by the Commission for the renewal of a permit.

5. The Commission may adopt such regulations as it determines are necessary to carry out the provisions of this section. The regulations may, without limitation:

(a) Establish additional requirements for the issuance or renewal of a permit.

(b) Establish fees for the issuance and renewal of a permit and fees to pay the costs of:

(1) Any examination for a permit, including any costs which are necessary for the administration of such an examination.

(2) Any investigation of an applicant’s background.

(c) Set forth standards of education for the approval of a course of instruction to qualify an applicant for a permit.

(Added to NRS by 1997, 954; A 2003, 1292; 2007, 1542)