Property Management requirements in South Dakota

Must South Dakota property management companies have a real estate broker's license?

No — but if a property manager is going to negotiate the rent, exchange or leasing of a property, list or rent real estate, or collect rent for real estate or if he or she holds herself out as engaging in those activities he or she will need at least a "property manager's license", which is a type of "restricted broker's license". Individuals must be licensed as individual property managers and partnerships, associations or corporations must be licensed as firms.

Must South Dakota community association managers have a real estate broker's license?

NO. A broker's license is not required to manage community associations in South Dakota.

South Dakota Real Estate Broker Requirements:

• 18 years of age or older
  
  
• Legal resident of the U.S.
  
  
• 40 hours of Fundamentals of Property Management.
  
  
• Study requirement may be waived if applicant possesses a baccalaureate degree with a major in real estate from an accredited college or university
  
  
• Pass the broker examination