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Committee advances bill to create separate property‑management license and education path
Summary
House Bill 1558 would create property-management broker and associate licenses, require 60 hours of education (30 law, 30 best practices), continuing education, and a minimum experience threshold (managing seven units for two years) for the broker track; committee passed the bill by voice vote.
Representative Richard Monroe and other sponsors told the Senate Insurance & Commerce Committee that House Bill 1558 establishes a licensing path for property managers separate from the sales‑agent/broker track. Sponsors said the bill keeps oversight under the Arkansas Real Estate Commission, requires education and experience for licensure, and aims to grow a trained property‑management workforce in the state.
Under the bill, sponsors explained, a property‑management broker would generally need 60 hours of education — 30 hours on Arkansas law and 30 on best practices — and two years of experience managing at least seven units, or the equivalent apprenticeship under a managing broker. The proposal would allow an associate property manager to serve a two‑year apprenticeship under a licensed property‑management broker and then take the broker education and exam. Sponsors said continuing education requirements would roughly mirror existing sales‑agent continuing education (about six hours annually).
Senators asked whether people who manage only their own property would be affected; sponsors clarified the bill would not prevent owners from managing their own units. Committee members pressed sponsors about how the 7-unit threshold was chosen; sponsor testimony said the Real Estate Commission recommended a higher threshold than earlier drafts (which used four) so applicants have demonstrable experience. The committee also discussed recovery‑fund protection for consumers and whether a fidelity bond or the commission’s recovery fund should cover losses; sponsors said complaints and payouts historically came from property‑management activity and that the recovery fund would be used as with brokers.
Supporters argued the bill reduces an access barrier for people experienced in property management who do not want to pursue a two‑year sales track and that it gives tenants and owners a better‑trained manager pool. Some senators suggested future consideration for recognizing related degrees or construction management credentials as part of experience or education pathways.
The committee approved the bill on a voice vote and advanced it for further consideration.
