Property Management
Eight of the fifty state items - as many as the Broker Relationships Act. The area reaches licensing and its exemptions, the management agreement, and the substantive law of Title 41, the Oklahoma Residential Landlord and Tenant Act together with the non-residential provisions at 41 O.S. §§ 51 and 52.
When property management needs a license
Section 858-102(2) defines a broker to include anyone who for compensation rents or leases real estate, controls the acceptance or deposit of rent from a resident of a single-family residential unit, solicits listings of places for rent or lease, or solicits for prospective tenants; OAC 605:10-1-2 spells out the property-management activities that fall inside it. The exemptions in 858-301 are narrow: a resident manager who lives on the premises and leases as part of that employment; a person or entity managing a transient lodging facility rented by the day for stays under thirty days; a resident who receives a referral fee not exceeding one hundred dollars; and employees of a licensed broker who lease only to subsidy-qualified persons in an affordable housing development project.
The management agreement and the money
A property management agreement is a brokerage service agreement (OAC 605:10-15-2(a)), so 858-355.1(A) requires it to incorporate the 858-353 duties as material terms, and 858-363 requires it to run in the broker's name. Where the broker collects fees in advance of services, 858-303B requires a detailed accounting of expenditures within ten days after the time specified to perform, or on written request, but no longer than one year from the date of the contract. Any damage or security deposit must be kept in an escrow account for the tenant maintained in Oklahoma with a federally insured financial institution (41 O.S. § 115(A), OAC 605:10-13-1(a)(1)(A)); misappropriating it is punishable by up to six months in the county jail and a fine of up to twice the amount taken. On termination the landlord may apply the deposit to accrued rent and itemized damages and must return the balance, without interest, within forty-five days after termination, delivery of possession and the tenant's written demand - and if no written demand is made within six months, the deposit reverts to the landlord.
Term, duties and termination
Absent a written definite term, the tenancy is week-to-week for a roomer or boarder paying weekly rent and month-to-month in every other case (41 O.S. § 110). A month-to-month tenancy or tenancy at will ends on thirty days' written notice, a shorter tenancy on seven days' (§ 111(A)-(B)), and a definite term expires on its ending date without notice. The landlord must keep the unit fit and habitable, maintain the building systems, and - except for a single-family residence or separately metered service - supply running water, reasonable hot water and reasonable heat (§ 118(A)). Repairs may be shifted to the tenant only by a conspicuous writing independent of the rental agreement. For unpaid rent the landlord may terminate if the rent is not paid within five days after written demand, and that demand is itself a demand for possession (§ 131(B)). For a material non-rent breach the notice sets termination not less than fifteen days out unless remedied within ten (§ 132(B)); conduct threatening imminent harm, and criminal or drug-related activity, allow immediate action.
Property the tenant leaves behind
Where a residential tenant abandons, surrenders or is evicted and leaves property with no ascertainable or apparent value, the landlord may dispose of it without accounting (41 O.S. § 130(A)). Where it has apparent value the landlord takes possession, sends written notice by certified mail to the last-known address, and "any property left with the landlord for a period of thirty (30) days or longer shall be conclusively determined to be abandoned." The landlord must store it safely and exercise reasonable care in the meantime, with storage cost capped at fair rental value if it stays in the unit. Non-residential property runs on different numbers: under 41 O.S. § 52 the landlord may take possession ten days after personal service or fifteen days after mailing, whichever is later, and a demand to remove must allow at least fifteen days before a public sale.
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State-specific details
State exam facts
- State regulator
- Oklahoma Real Estate Commission (OREC)
- Exam vendor
- Pearson VUE
- Prelicensing education
- 90 clock hours of advanced instruction + the 15-hour Broker in Charge course
- Passing score
- 75% scaled on each portion
- Scored questions
- 130
- Time limit
- 240 minutes
Who regulates real estate brokers in Oklahoma?
The Oklahoma Real Estate Commission (OREC) licenses brokers, broker associates, sales associates, and provisional sales associates under 59 O.S. §§ 858-101 et seq. OREC's exams are delivered by Pearson VUE, which replaced PSI; the current Oklahoma content outline took effect April 2, 2024.
What experience do I need before the Oklahoma broker exam?
Under 59 O.S. § 858-303, a broker applicant needs two years of active licensure within the previous five years (or its equivalent) AND documentation verifying ten completed real estate transactions within the past five years, on top of 90 clock hours of advanced real estate instruction and the Broker in Charge course.
How is the Oklahoma broker exam structured?
Two separately scored portions delivered by Pearson VUE: a national portion of 80 scored items plus 5 pretest items in 150 minutes, and an Oklahoma state portion of 50 scored items plus 10 pretest items in 90 minutes. A scaled score of 75% is required on each. Salesperson candidates take a 40-item state portion and need 70% — the higher broker standard is OREC's own long-standing rule at OAC 605:10-3-5(f), not a 2024 change. Two of the six state areas, Trust Accounts and Trust Funds and Broker Management, are broker-only and account for 14 of the 50 state items.
Sources: https://oklahoma.gov/orec.html, https://www.pearsonvue.com/us/en/ok/realestate.html, https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/093800.pdf, https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/093801.pdf, https://oklahoma.gov/content/dam/ok/en/orec/documents/meetings/Nov%201%202025%20Oklahoma%20Real%20Estate%20Commission%20Code%20and%20Rules%20Book.pdf
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