A strata management company in BC manages 50 strata corporations. Under RESA, what specific licensing and compliance obligations apply to this company?
Correct Answer
D) The company and its strata managers must be licensed, strata funds must be held in trust, and BCFSA education and record-keeping rules apply
Under RESA, strata management services are a licensed activity. The strata management company must be licensed as a brokerage, individual strata managers must hold strata management licences, strata corporation funds must be held in trust accounts separate from the company's operating funds, and all licensees must complete BCFSA-mandated continuing education. Strata management companies are subject to BCFSA audits and discipline.
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A RECA Hearing Panel finds that a licensee's conduct was conduct deserving of sanction. The licensee disagrees with the decision. Under Alberta's Real Estate Act, what appeal route is available?
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