South Carolina Real Estate Broker Exam — All Questions
3 questions
The South Carolina Residential Landlord and Tenant Act (Title 27, Chapter 40) governs:
- a.Only commercial leases
- b.Appraiser licensing
- c.The rights and duties of residential landlords and tenants, including security deposits and notices✓
- d.The recording of deeds
The South Carolina Residential Landlord and Tenant Act sets out the rights and obligations of residential landlords and tenants, including security-deposit handling, habitability, and notice requirements. A broker who manages residential rentals must understand these rules. It does not govern commercial-only leases, appraiser licensing, or deed recording.
A South Carolina broker who manages long-term residential rentals must handle tenant security deposits by:
- a.Keeping them as additional commission
- b.Following the Residential Landlord and Tenant Act and the broker's trust-account duties for holding and accounting for the funds✓
- c.Depositing them into the broker's personal savings
- d.Refusing to return them under any circumstances
Security deposits are client funds that must be handled under the Residential Landlord and Tenant Act and the broker's trust-account duties, including proper accounting and lawful return with any allowed deductions. Treating deposits as commission or personal funds violates both the landlord-tenant law and the license law.
Which South Carolina credential specifically covers licensees whose business is managing rental property?
- a.Notary public
- b.General contractor
- c.Home inspector
- d.Property manager / property manager-in-charge✓
South Carolina licenses property managers and property managers-in-charge for those whose business is managing rental real estate, a distinct track from the sales-broker ladder. A broker who understands where property management fits in the license structure can advise clients and stay within the scope of their own license.