1.  If a real estate broker does not hold a permit to engage in property management but intends to have property management activities conducted at an office, the real estate broker must:

Terms Used In Nevada Revised Statutes 645.6055

  • person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
  • real estate: means every interest or estate in real property including but not limited to freeholds, leaseholds and interests in condominiums, town houses or planned unit developments, whether corporeal or incorporeal, and whether the real property is situated in this State or elsewhere. See Nevada Revised Statutes 645.020

(a) Appoint a person, who has the qualifications required by this section, as the designated property manager for the office to supervise the property management activities conducted at the office; and

(b) Submit notice of the appointment to the Division.

2.  The designated property manager for an office must be a natural person who:

(a) Holds a license as a real estate broker or real estate broker-salesperson;

(b) Holds a permit to engage in property management; and

(c) Has 2 years active experience, within the 4 years immediately preceding the date of the appointment, in conducting property management activities in the United States as a licensed real estate broker, real estate broker-salesperson or real estate salesperson.

3.  While acting as the designated property manager for an office, the person:

(a) Must comply with the provisions of NRS 645.6052 to 645.6058, inclusive, and all other applicable provisions of this chapter; and

(b) Is subject to all the remedies and penalties provided for in this chapter.

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