In South Dakota, the maximum security deposit a landlord can charge for a standard residential rental is:
Correct Answer
A) One month's rent
South Dakota generally limits a security deposit for a standard residential rental to one month's rent under SDCL 43-32-6.1. A larger deposit may be allowed only under the statute's special-condition/mutual-agreement exception, so for a standard residential rental the exam answer is one month's rent.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
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