All Roll Calls
Yes: 176 • No: 14
UtahH.B. 3772026 General SessionHouseWALLET
Real Estate Amendments
Sponsored By: R. Neil Walter (Republican)
Signed by Governor
BusinessReal EstateReal Property
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Bill Overview
Analyzed Economic Effects
7 provisions identified: 2 benefits, 2 costs, 3 mixed.
New licensing and affiliation for property managers
Beginning January 1, 2027, you must be licensed to manage Utah real estate. The law defines what counts as property management (like advertising, arranging leases, collecting rent) and excludes hotels, tourist rentals, and separate mineral or oil and gas interests. A company that only does property management must register and be supervised by a dual broker, principal broker, or principal property manager. A licensed property manager generally must affiliate with a principal broker before working, unless employed by a company that managed at least 750 Utah residential units in any of the past three years or a housing authority. The Real Estate Commission, with the Division’s concurrence, sets the licensing and company registration rules starting in 2027.
Training and exams for managers in 2027
Starting January 1, 2027, new property manager applicants must complete at least 24 hours of approved training. The exam must match the training topics and the share of time spent on each. The Division may adjust exam length or materials for applicants licensed in other states or with qualifying experience. People who hold an active broker, associate broker, or sales agent license on or after January 1, 2027 do not need the 24 hours or the exam to get a property manager license.
Who is exempt from manager licensing
A regular salaried employee of an owner may manage that owner’s real estate without a license, but only for that one employer. Unlicensed or remote assistants can support a property manager without a license. People who only do maintenance and repairs, or who only do bookkeeping and accounting, do not need a real estate license for those tasks.
Oversight study and key start dates
The law takes effect May 6, 2026. The Department of Commerce must report by August 31, 2026 on overlapping oversight of property management between the Division of Consumer Protection and the Division of Real Estate. The report must propose how to realign jurisdiction and list needed statutory changes, after consulting the Real Estate Commission, both divisions, at least one property manager, and experts.
Fingerprints and background checks for licenses
License applicants must submit fingerprints, enroll in the FBI Rap Back service, and consent to state and federal background checks. Nonrefundable fees are due when you apply. These same requirements apply to property manager applicants beginning January 1, 2027. The Division keeps fingerprint records for future checks under Rap Back.
Trust accounts for tenant and owner money
A property manager must use at least one Utah trust account to hold deposits, rent, reserves, and similar client funds. The account is non‑interest‑bearing unless a written agreement allows interest and names who gets it. If the manager is affiliated with a principal broker, client funds must be kept in the broker’s trust account. A manager is excused from holding client funds only if the owner agrees in the management contract and the lease states the manager is not required to hold funds in a trust account.
Recordkeeping rules and shorter enforcement window
Brokerages and covered managers must keep trust account records, monthly reconciliations, lender documents, and supervised transaction files. Store records at the main office or electronically under Utah’s e‑transactions law, and keep them at least three calendar years after the triggering event. Tell the Division within 10 business days if you close, and give record locations if you file bankruptcy. The Division must start a case within two years of when a violation is reported or when records no longer must be kept, with limited extensions for court judgments and while enforcing subpoenas.
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Sponsors & Cosponsors
Sponsor
R. Neil Walter
Republican • House
Cosponsors
Calvin R. Musselman
Republican • Senate
Roll Call Votes
Senate vote • 3/6/2026
Senate/ substituted
Yes: 0 • No: 0
Senate vote • 3/6/2026
Senate/ passed 2nd & 3rd readings/ suspension
Yes: 25 • No: 0
House vote • 3/6/2026
House/ concurs with Senate amendment
Yes: 53 • No: 13
House vote • 2/27/2026
Senate Comm - Amendment Recommendation
Yes: 6 • No: 0
House vote • 2/27/2026
Senate Comm - Favorable Recommendation
Yes: 6 • No: 0
House vote • 2/23/2026
House/ passed 3rd reading
Yes: 67 • No: 1
House vote • 2/17/2026
House Comm - Substitute Recommendation
Yes: 9 • No: 0
House vote • 2/17/2026
House Comm - Favorable Recommendation
Yes: 10 • No: 0
Actions Timeline
Governor Signed
3/18/2026House/ to Governor
3/16/2026HouseHouse/ received enrolled bill from Printing
3/16/2026HouseHouse/ enrolled bill to Printing
3/12/2026HouseEnrolled Bill Returned to House or Senate
3/12/2026Draft of Enrolled Bill Prepared
3/11/2026Bill Received from House for Enrolling
3/11/2026House/ signed by Speaker/ sent for enrolling
3/11/2026HouseHouse/ received from Senate
3/11/2026HouseSenate/ to House
3/10/2026SenateSenate/ signed by President/ returned to House
3/10/2026SenateSenate/ received from House
3/10/2026SenateHouse/ to Senate
3/6/2026HouseHouse/ concurs with Senate amendment
3/6/2026HouseHouse/ placed on Concurrence Calendar
3/6/2026HouseHouse/ received from Senate
3/6/2026HouseSenate/ to House with amendments
3/6/2026SenateSenate/ passed 2nd & 3rd readings/ suspension
3/6/2026SenateSenate/ substituted
3/6/2026SenateSenate/ 2nd & 3rd readings/ suspension
3/6/2026SenateSenate/ Rules to 2nd Reading Calendar
3/6/2026SenateSenate/ 2nd Reading Calendar to Rules
3/4/2026SenateSenate/ placed on 2nd Reading Calendar
2/27/2026SenateSenate/ comm rpt/ amended
2/27/2026SenateSenate Comm - Favorable Recommendation
2/27/2026
Bill Text
Enrolled
3/12/2026
Substitute #3
3/4/2026
Amended 2/27/2026 15:02:779
2/27/2026
Substitute #2
2/23/2026
Substitute #1
2/16/2026
Introduced
1/26/2026
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