NO. South Dakota is one of the few states that does not require a real estate broker's license to engage in property management. However, 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.
YES. For example, property managers are exempt from the license requirement if they do not engage in leasing, offers to lease, lease negotiations, or other lease-related activities. On-site residential managers maybe be eligible for a residential rental agent's license.
For more information about these and other South Dakota property management requirements and exceptions, please contact the South Dakota Real Estate Commission.
Before hiring a property manager to manage your South Dakota rental property, you should always check that he or she is licensed appropriately. You can check the license status of South Dakota property managers by referring to the state's online license licensee roster.
There is no requirement that a community association manager or condo association manager in South Dakota hold a real estate broker's license.
South Dakota property manager licensing requirements include:
South Dakota responsible broker licensing requirements include:
South Dakota associate broker licensing requirements include:
For more information about these and other licensing requirements and exceptions, please contact the South Dakota Real Estate Commission.