Bill > HB1055

This bill amends Indiana's real estate licensing laws to require property managers working for homeowners associations (HOAs) to obtain a broker license. Specifically, the bill expands the definition of "broker" to include individuals who manage property on behalf of an HOA for compensation. The legislation introduces a special provision for managing brokers working with HOA management companies, allowing them to become managing brokers without meeting the typical two-year active broker license requirement until June 30, 2028, but only if they were managing HOA properties on or before June 30, 2026, and currently hold an active broker's license. This change aims to regulate HOA management companies by ensuring their property managers are licensed professionals, while providing a transitional period for existing HOA management companies to comply with the new licensing requirements. The bill will take effect on July 1, 2026, giving HOA management companies time to prepare for the new licensing mandate.