Oregon Administrative Rules › Chapter 863 - REAL ESTATE AGENCY › Division 25 - PROPERTY MANAGEMENT › Section 863-025-0080 - Compliance Reviews and Mail-in Audits

Current through Register Vol. 63, No. 7, July 1, 2024
(1) The Agency will provide a property
			 manager with written notice at least five business days before conducting a
			 compliance review.
(2) A compliance
			 review is completed when the Agency delivers a written notice of completion to
			 the property manager.
(3) Except as
			 provided in section (4) of this rule, if the Agency determines that a property
			 manager is not in compliance with ORS
			 696.010 to
			 696.495,
			 696.600 to
			 696.785,
			 696.800 to
			 696.870, or OAR chapter 863
			 after the Agency completes a compliance review, the Agency will allow the
			 property manager at least 30 days from the date the compliance review is
			 completed to cure the noncompliance without sanction.
(4) Upon completion of a compliance review,
			 if the Agency has reasonable grounds to believe that the funds of an owner or
			 tenant may be missing, funds may have been misappropriated, or that the
			 property manager's records are in such a condition that the property manager is
			 placing owners' and/or tenants' money at risk the Agency may immediately
			 initiate an investigation without providing a property manager with an
			 opportunity to cure noncompliance.
(5) The Agency will provide a property
			 manager with written notice of a mail-in audit at least 30 days before required
			 information and documentation must be provided to the Agency.
(6) After the Agency reviews the information
			 and documents provided in a mail-in audit, the Agency will take one of the
			 following actions:
(a) If the information and
			 documents are in compliance with statutes and rules, the Agency will provide
			 written notice to the property manager confirming compliance only as to the
			 information and documents provided;
(b) If the information and documents indicate
			 that the property manager may be subject to additional documentation and
			 procedural requirements that were not part of the mail-in audit, the Agency
			 will provide written notice to the property manager detailing the Agency's
			 expectations for compliance on those matters;
(c) If the information and documents
			 demonstrate that the property manager is not in compliance with ORS
			 696.010 to
			 696.495,
			 696.600 to
			 696.785,
			 696.800 to
			 696.870, or OAR chapter 863, the
			 Agency will provide written notice to the property manager that includes:
(A) The property manager must cure all
			 noncompliance issues and provide information and documentation to the Agency
			 that the noncompliance has been cured within 30 days of the date of the notice;
			 and
(B) If all noncompliance issues
			 are not cured within 30 days, the Agency may impose sanctions on the property
			 manager or may initiate an investigation and not allow additional time for the
			 property manager to cure the noncompliance.
(d) If the Agency has reasonable grounds to
			 believe that the funds of an owner or tenant may be missing, funds may have
			 been misappropriated, or that the property manager's records are in such a
			 condition that the property manager is placing owners' and/or tenants' money at
			 risk, the Agency may immediately initiate an investigation without providing a
			 property manager with an opportunity to cure noncompliance.