KREC

Welcome to the new Kentucky Real Estate Commission website. We are charged with protecting the public interest through regulation, examination and licensing of Kentucky real estate sales associates and brokers pursuant to Kentucky Revised Statutes, Chapter 324.

We approve and monitor pre-licensing instruction and testing, as well as approve and monitor continuing education for real estate licensees.

The Kentucky Real Estate Commission also investigates complaints against real estate licensees, as well as unlicensed brokerage activities.

The Kentucky Real Estate Commission website will provide infomation regarding:

• New Applicants
• Out-of-State Licensing (License Recognition)
• Continuing Education Providers
• Brokerage Management
• and much, much more

We hope you find our website helpful and informative.

Hot Topics

The following items are of great importance for all licensees:

• Lead Based Paint – New Rule:  Renovation, Repair and Painting (RRP) Rule
  The Renovation, Repair and Painting (RRP) Rule became effective on April 22, 2010.  For more information on this new rule, you should visit the EPA website.  The following excerpt was downloaded from the EPA’s website www.epa.gov/lead
• EPA Requirements:
  On April 22, 2008, EPA issued a rule requiring the use of lead-safe practices and other actions aimed at preventing lead poisoning. Under the rule, beginning April 22, 2010, contractors performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 must be certified and must follow specific work practices to prevent lead contamination.  EPA requires that firms performing renovation, repair, and painting projects that disturb lead-based paint in pre-1978 homes, child care facilities and schools be certified by EPA and that they use certified renovators who are trained by EPA-approved training providers to follow lead-safe work practices. Individuals can become certified renovators by taking an eight-hour training course from an EPA-approved training provider.  (This information was copied from RHIIP Listserv Posting #230)
• 2010 Census – Property Management Issue:
  Property managers may be asked to provide information to U.S. Census workers who are collecting information for the 2010 Census.  Property managers may be concerned about what type of information is permissible for them to provide to Census workers.  HUD, through its listserv for the Multifamily Housing RHIIP (Rental Housing Integrity Improvement Program), provided the following information:
• 2010 Census - What information can be provided to census takers?
  In March 2010, census takers began going to addresses across the country to count the population and to collect information for the 2010 Census.
   
  Census takers are required to contact occupied apartments themselves; however, if an apartment is vacant or if the census taker is unable to contact the tenant, the census taker is instructed to ask an apartment owner/manager to answer a few short questions about the apartment (e.g. who was occupying the unit on April 1, 2010), as well as provide the name and phone number of the apartment owner/manager in the event that the Census Bureau needed to ask any follow-up questions.
   
  In accordance with 13 USC 223 … owners and/or managers of Multifamily Housing properties must provide census takers with the names of tenants residing in their property when requested by a census taker.  If the census taker needs information past the names of the tenants, they should request this information from HUD.  Because there are no Privacy Act implications, owners and/or managers could also provide information on what units were vacant.  Property owners/managers are not authorized to disclose additional information.
   
  In addition, Contract Administrators (CAs) of HUD Multifamily programs must not provide any tenant information to census takers.  If contacted, CAs should refer the census taker to the owner or manager of the property. (This information was copied from RHIIP Listserv Posting #230)
   
  If you would like to sign-up for HUD’s listserv, please go to the following website:  http://www.hug.gov/subscribe/mailinglist.cfm
• Owner-Financing & Licensure/Registration Requirements:
  There have been some recent changes to the mortgage laws (KRS 286.08) of which licensees should be aware.  Specifically, the laws relating to people who must register as mortgage loan originators have been expanded to apply to some owner-financing real estate transactions.  Please visit the following link on the Kentucky Department of Financial Institutions website, for more information on these changes: http://www.kfi.ky.gov/nondepository/mortgagelaw/.  This law does exempt a person from having to register as a mortgage loan originator if they are financing a loan on a dwelling that was that person’s personal residence.  However, if a person owns rental property or other investment properties and wants to sell that property utilizing owner-financing for the transaction, then he or she will need to register.  You should visit the Kentucky Department of Financial Institutions website http://www.kfi.ky.gov/ or contact its office by telephone (502)573-3390 to obtain detailed information about the registration requirements for mortgage loan originators. (This information was copied from RHIIP Listserv Posting #230)

• If you are looking for reciprocal licensing information, it is now called license recognition and can be found under the New Applicant section.

• Effective March 1, 2010 - All requests to KREC must be on commission-approved forms.
  Important: KREC only accepts checks or money orders. No cash, no credit cards.
• New Requirement for Opening an Office or Changing a Firm Name:
  In order to open a new office or change the name of your firm, you must now provide the Kentucky Real Estate Commission with a Letter of Existence from the Kentucky Secretary of State's Office. In order to receive this, every firm must first register with the Secretary of State of Kentucky.