Updated on May 15th, 2023
A South Carolina property management agreement details a service relationship between a real estate owner and the manager responsible for taking care of their property. It describes the manager’s services and how they’ll be compensated for their work. Through this type of agreement, the manager might get paid a flat fee, commission, a fee for finding new tenants, or a fee for renewing leases.
License Required? Yes. Unless the person owns the property, an individual cannot provide property management services without a license issued by the Real Estate Commission (§ 40-57-20). South Carolina offers a license specifically for property managers, although real estate brokers and salespersons can perform management activities as well (§ 40-57-30(3), § 40-57-30(26)).
Agreement Required? Yes. A brokerage firm that manages commercial or residential property must have a written agreement containing specific information (§ 40-57-135(j)).
Verify a Manager – verify.llronline.com