The bill H. 3864 aims to amend the South Carolina Code of Laws regarding licensure requirements for individuals involved in the rental or management of real estate. Specifically, it modifies Section 40-57-20 to make it unlawful for individuals to manage or operate three or more rental properties without obtaining a valid real estate brokerage or property manager license. This change emphasizes the necessity of licensure for those managing multiple properties, ensuring that they meet professional standards and regulations.

Additionally, the bill amends Section 40-57-240 to clarify the applicability of the regulations concerning real estate brokers and property managers. It specifies that the exemption for unlicensed owners selling, leasing, or renting their property does not apply to individuals managing three or more rental properties, thereby reinforcing the requirement for licensure in such cases. The bill will take effect upon approval by the Governor.

Statutes affected:
01/30/2025: 40-57-20, 40-57-240
Latest Version: 40-57-20, 40-57-240