Bill > HB1558

This bill creates a new category of real estate licensing in Arkansas specifically for property management professionals, establishing both property management broker and property management associate licenses. The bill recognizes that property management requires specialized skills distinct from traditional real estate brokerage, and aims to create a more targeted licensing framework. Key provisions include defining the roles and responsibilities of property management brokers and associates, establishing education and experience requirements for these new license types (including specific curriculum requirements), setting licensing fees, and integrating these new license categories into existing real estate licensing regulations. The bill requires property management brokers to maintain a physical place of business, display appropriate signage, and comply with continuing education requirements. The Arkansas Real Estate Commission will be responsible for creating rules and implementing these new license types, with an initial implementation deadline of June 1, 2026. The legislation seeks to improve professional standards in property management, reduce educational barriers, potentially create new job opportunities, and provide more specialized oversight of property management activities.

Business and Industry

https://arkleg.state.ar.us/Bills/Detail?id=hb1558&ddBienniumSession=2025%2F2025R