TITLE: Relating to a rental locator permit issued by the Texas Real Estate Commission; authorizing a fee.

SUMMARY: Relating to a rental locator permit issued by the Texas Real Estate Commission; authorizing a fee.

FULL TEXT:
AN ACT relating to a rental locator permit issued by the Texas Real Estate Commission; authorizing a fee. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Chapter 1101, Occupations Code, is amended by adding Subchapter K-1 to read as follows: SUBCHAPTER K-1. RENTAL LOCATOR PERMIT REQUIREMENTS Sec. 1101.521. RENTAL LOCATOR PERMIT. (a) The commission shall adopt rules to provide for the issuance of a rental locator permit to an applicant who: (1) is 18 years of age or older; (2) has a high school diploma or the equivalent of a high school diploma; (3) completes a training course on rental locating approved by the commission; (4) has not, in the two years preceding the date of the application, held a rental locator permit issued under this section; (5) is sponsored by a licensed broker; (6) is currently enrolled in qualifying real estate courses required for a sales agent or broker license; and (7) pays an application fee in an amount set by the commission. (b) A rental locator permit expires on the 120th day after the date of issuance and may not be renewed. (c) Notwithstanding Section 1101.351(a), a person who holds a permit issued under this section may act as a residential rental locator. The permit holder must be supervised by the sponsoring broker. SECTION 2. This Act takes effect September 1, 2021.