South Dakota Property Management Agreement | Commercial & Residential

A South Dakota property management agreement is a contract between a licensed property manager (or real estate broker) and a property owner. The contract delegates authority to the property manager to represent the owner in overseeing the rental or leasing of their real estate.

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Updated June 12, 2024

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Laws

Requirements – No real estate broker’s license is required to operate as a property manager; however, a property management license (a type of restricted license) must be obtained to perform the majority of duties expected of an owner’s representative.^[1] An exemption applies to managers of state or federal housing.^[2]

Verify a Property Manager – South Dakota Department of Labor & Regulation