What type of broker's license is required for Property Management in South Dakota?

In South Dakota, the required license for property management is the Restricted Broker's License. This type of license specifically caters to individuals whose primary focus is on property management rather than engaging in all facets of real estate brokerage.

A Restricted Broker's License allows the holder to manage residential and commercial properties, handle leases, and collect rents on behalf of property owners, which encompasses the core responsibilities in property management. It is designed to ensure that individuals in this role are adequately trained and regulated to uphold standards in managing properties effectively and ethically.

Other types of licenses, such as a General Broker's License, would permit broader activities in the real estate field beyond property management, which is not necessary for someone primarily focused on that specific area. Therefore, the Restricted Broker's License is tailored to meet the unique needs and responsibilities associated with property management in South Dakota.