Step-by-Step Guide to Become a Property Manager in Nevada

(**) Disclosure: This post may contain affiliate links, meaning RealEstateCareerHQ.com will get a commission if you decide to make a purchase through the links, but at no additional cost to you.

Property management can be a rewarding career with great advancement opportunities. If you are thinking to become a property manager in Nevada, this is the perfect guide for you!

To become a property manager in Nevada, an applicant must be at least 18 years old, have a real estate license, complete 24 hours of pre-licensing property manager education, pass the property manager exam, submit a permit application (Form 545) and a fee of $40 to the Nevada Real Estate Division.

But before you decide to pursue further in this profession, it’s important to know what the role of a property manager is. As a property manager, your duties may include finding and screening prospective tenants for a property, negotiating the lease terms. You could also be responsible for rent collection, property inspection, maintenance, repair, providing updates, and communicating with the property owner.

This guide will focus on the steps on getting a property manager permit in Nevada. So you may begin your property management career by joining a licensed brokerage firm. I will also cover the FAQs about this profession.

But before we start, I want to give a brief disclaimer. This post is not intended as legal advice or state/federal real estate training. It is for general information only. Please always follow your State laws and best practices.

A Table Summary of Becoming a Property Manager in Nevada

8 Steps to Become a Property Manager in Nevada

Step 1: Meet the eligibility requirement

• At least 18 years old
• Have a social security number

Step 2: Obtain a real estate license

Before you can apply for a Property Manager Permit, you must obtain a Nevada Real Estate license. To do so, you need to:

• Complete 120 hours of pre-licensing real estate education;
• Pass the salesperson exam;
• Go through a background check;
• Submit a Salesperson Application (Form 549) and license fee to the Nevada Real Estate Division (NRED).

Here’s a step-by-step guide to obtain a Nevada Real Estate license.

Step 3: Complete the pre-licensing education

You are required to take 24 hours of pre-licensing property manager course from an approved education provider. The curriculum must include:

• (a) 4 hours of instruction relating to:
  • Contracts for management services;
  • Leases of real property;
  • Applications to rent real property;
  • The Fair Credit Reporting Act,
  • The Fair Debt Collection Practices Act,
• (b) 2 hours – Maintenance of records of money deposited in trust accounts and the requirements for reporting to the Division;
• (c) 1 hour – The use of a computerized system for bookkeeping;
• (d) 2 hours The laws of this State governing property management;
• (e) 2 hours – The disclosure of required information in real estate transactions, including, without limitation:
  •  Disclosures required pursuant to NRS 645.252; and
  • Disclosures related to environmental issues as governed by state and federal law;
• (f) 5 hours of instruction relating to:
  •  The Americans with Disabilities Act of 1990;
  •  The Residential Landlord and Tenant Act as set forth in chapter 118A of NRS;
  •  The Nevada Fair Housing Law as set forth in chapter 118 of NRS; and
  •  State and federal law governing unlawful discrimination based on sex, including, without limitation, sexual harassment;
• (g) 3 hours- Property management for a common-interest community as set forth in chapter 116 of NRS;
• (h) 1 hour – The duties and responsibilities of a real estate broker, including the supervision of employees and real estate salespersons and real estate broker-salespersons associated with the real estate broker;
• (i) 2 hours of instruction relating to risk management, including, without limitation:
  • The maintenance of real property;
  • The health and safety of a tenant;
  • Fire insurance;
  • Rental insurance; and
  • Disability insurance; and
• (j) 2 hours – The management of commercial property.

Step 4: Pass the Nevada Property Manager Exam

The Nevada Property Manager Exam has 50 questions with 90 minutes of writing time. The required passing score is 75% or higher. It is administered by Pearson Vue and the exam fee is $75.

Here’s a guide with more details about the NV Property Manager Exam.

Step 5: Join a licensed property management firm

In Nevada, you must be affiliated with a Designated Property Manager and Broker. This is the firm who would supervise over your real estate and property management activities.

Keep in mind that not all real estate brokerage provide property management services to their clients. Most brokerages focus only on the buy-sell side of the business. So make sure you find one that specializes in property management.

At the time that I’m writing this guide, I can see online job postings looking for property managers. You may search through job forums such as ZipRecruiter, Glassdoor, or LinkedIn.

There are many property companies out there, but not all are suitable for you. As you start in this industry, it will help if you work for a company that could provide you with proper training and mentorship. And you would likely start out working as an assistant to a property manager.

Rather than having you reinvent the wheels, an established property management company can show you a standard procedure in working with clients effectively.

Step 6: Submit an application to Nevada Real Estate Division

You need to submit the Property Management Permit Application (Form 545) and do so within 1 year of passing the property manager exam.

In there, it will ask for your personal details, the pre-licensing course completion certificate, and some background questions. The Designated Property Manager and Broker also needs to sign the form.

There is a $40 license fee which can b e paid in cash, checks, money orders made payable to NRED or credit card (in-person submission only.)

Once all the required documents are in good order, you can mail it the Las Vegas Office at 3300 W. Sahara Ave., Suite 350, Las Vegas, Nevada 89102.

Step 7: Maintain the real estate license and property manager permit

All Nevada real estate licensees must renew the salesperson license every 2 year and the property manager permit will be due on the same time.

There is a 36 hours of CE credit requirement to renew the real estate license, and 9 hours of CE for the property manager permit. The NRED may conduct random audits to verify the CE credit. Therefore, it’s better to maintain the CE records and proof of completion documents.

So know your deadlines and don’t wait until the last minute to complete CE and renew your license. Failure to renew on time not only result in late renewal fee, but it can cause interruption to your business.

Step 8: Keep up with the Nevada real estate laws

In order to be remain competitive in the property management industry, it’s important to keep up with the latest laws and best practices. To do so, it’s better to review the following sections:

Since you are reading up to this point, I bet you must be interested in becoming a property manager. If that requires you to get a real estate salesperson license in your state, your first step is to complete the pre-license education. You should select one that has an excellent reputation and a long-term track record of satisfying students. The Colibri is exactly that! You may click here to check it out yourself. (**)

Here’s a snippet of what a property manager thinks about this career

I have been handling the management of family investments for 5-6 years now (licensed for a year to take our model public!). I am also a broker and investor myself, having done everything from complete gut rehab flips to buy and hold investments. I have been in the industry for over 10 years…

The biggest piece of advice I can give is to not take things personal. If you do your job correctly, which should be overly defined before you start to manage someone’s investment, then you are just dealing with people reacting to their situation (which can become very personal for them, since it is in their home).

But be polite and direct, don’t tell them what they want to hear, tell them what is actually happening. Also, always remember you are there to make the property owner fiscally happy first and foremost.

– Dan Gallagher, Zebra Cares LLC

Here’s another post I wrote. In there, you can read more on Dan’s thoughts about the property management profession. You can also find out what other property managers say about this career path.

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• The role of a property manager
• How much do property managers make?
• How to start a property management company?
• Smart ways to streamline a property management business
• Practical business practices for your daily operation (i.e. tenant screening, rental listing, property management software.)
• and many more…

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FAQ about being a Property Manager in Nevada

How much does it cost to become a property manager in Nevada?

It costs approximately $960 to become a property manager in Nevada. Here’s the breakdown:

• Cost to obtain the NV salesperson license: $625 (approximate)
• Property manager pre-licensing courses: $190 to $220 (approximate)
• Property manager exam fee: $75
• Property manager permit fee: $40

You may also want to invest into exam preps. This can increase your chance in passing the exam on the first try, so that you don’t need to waste time and money in retaking it.

How long does it take to become a property manager in Nevada?

It takes approximately six months to become a property manager in Nevada. But it also depends on the time it takes you to obtain the real estate license, complete the property manager pre-licensing course, exam, application, and get employed by a licensed property management firm.

Can a felon be a property manager in Nevada?

The Nevada Real Estate Division will consider the applicant’s honesty, trustworthiness, character and integrity. But whether a felon can obtain a real estate license to become a property manager is subjected to case-by-case evaluation.

On the Property Manager Permit Application, it will ask you the following:

• Have you ever been charged with or arrested for a felony, gross misdemeanor, or misdemeanor?
• Have you ever been convicted of a felony, gross misdemeanor, or misdemeanor?
• Have you ever been permitted to change your plea of guilty or had a criminal conviction reversed, or had a judgment or verdict vacated?
• Have you ever received an executive pardon?
• Have you ever been convicted of, or are you under indictment for, or have you entered a plea of
• guilty or nolo contendere to forgery, embezzlement, obtaining money under false pretenses, larceny, extortion, conspiracy to defraud or any crime involving moral turpitude?
• Are you presently on parole or probation or paying any restitution?

If you answer “Yes,” you’ll need to include further documents and explanations about the incident.

But don’t get discouraged as everyone has a past. The most important is that you can demonstrate that you will serve the public in a fair, honest, and open manner.

Here’s another post that covers how to apply for a professional license with a felony record. In there, you’ll find practical ideas which could help your application.

How do I start my own property management company in Nevada?

As you developed the necessary skillset, rather than working for someone else, you may consider getting a real estate broker license and start a property management company. This allows you to hire other property managers, thus, lead to a scalable business model.

To obtain a real estate broker license in Nevada, an applicant must:

1. Be at least 18 years and have a valid SSN;
2. Have at least 2 years of active real estate salesperson experience within the last 4 years;
3. Complete 64 semester college credits from an approved provider;
4. Pass the Nevada Real Estate Broker Exam;
5. Go through a criminal background check;
6. Submit an application and fees to the Nevada Real Estate Division

But keep in mind that running a company is very different from working as an employed property manager. You need to figure out all the different aspects of the business, such as marketing, branding, prospecting, hiring, training, and accounting.

The expenses will also be a lot higher, you need to account for business insurance, staff’s salary and benefits, office rent, furniture, office supplies, software, many more.

I have more questions about being a property manager in Nevada, whom should I contact?

You may contact the Nevada Real Estate Division for more details about the property manager permit or the real estate license.

If you want to know more about being a property manager in Nevada, I invite you to check out the following articles: 

• How to Pass the Nevada Property Manager Exam?
• How Much do Property Managers Make in Nevada?

(**) Affiliate Disclosure: Please note that some of the links above are affiliate links, and at no additional cost to you. Our company, JCHQ Publishing will earn a commission if you decide to make a purchase after clicking on the link. Please understand that we include them based on our experience or the research on these companies or products, and we recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something through the links. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.

Disclaimer: The information in this post is for general information only, and not intend to provide any advice. They are subjected to change without any notice, and not guaranteed to be error-free. Some of the posts on this site may contain views and opinions from individual not related to JCHQ Publishing. They do not necessarily reflect our view or position.

Reference:

• Nevada Real Estate Division
  • Property Manager (source)
  • Property Management (source)
  • Property Manager Permit Renewal (source)
• Nevada Real Estate Candidate Handbook (source)
• Nevada Code – Chapter 645 Real Estate Brokers and Salesperson (source)