UT HB0377

Department of Commerce must recommend to the Business and Labor Interim Committee by August 31, 2026, how to address overlapping jurisdiction between the Division of Real Estate and Division of Consumer Protection over property management

Property manager license implementation date extended from July 1, 2026 to January 1, 2027, requiring at least 24 hours of training and passage of an examination covering program topics

Creates "dual broker" license category for principal brokers who function as principal property managers of separate property management companies, allowing them to engage in property management without obtaining a separate property manager license

Property managers not required to maintain client funds in trust accounts if the property owner agrees in the management agreement and the lease states funds need not be held in trust (replaces previous 30% security bond exemption)

Property managers employed by companies managing at least 750 residential rental units, or employed by housing authorities, are exempt from principal broker affiliation requirements