Clarifying Condominium Management Licensing
| June 21, 2021
Recently, RECA communicated the condominium management licensing requirements to all stakeholders. RECA has received a few questions concerning the need for a separate condominium management licence.
To clarify, existing real estate brokerages that provide condominium management services will require a separate condominium management brokerage licence to provide condominium management services after December 1, 2021.
Current real estate or mortgage brokerages can obtain a condominium management brokerage licence using their current brokerage’s business entity (proprietorship, partnership or corporation). They do not need to create a new business entity to obtain a condominium management brokerage licence. This is no different than the current model where one entity can hold real estate and mortgage brokerage licenses.
Consultation on the Regulatory Model
This model was chosen in 2016, following stakeholder consultations the Condominium Manager Implementation Advisory Committee (CMIAC) undertook in late-2015. The feedback during that consultation was supportive of this regulatory structure.
Additional reasons for adopting this regulatory structure include:
- trading in real estate as a real estate broker involves the disposition of real property. Condominium management activities involve assisting a condominium corporation to manage itself and its common property. These activities are distinct.
- including condominium management as part of a real estate licence would require condominium manager brokers to obtain residential, rural, commercial, and property management licences, and to complete re-licensing education in these sectors even if they are not intending to practice in those sectors.
- including condominium management as part of a real estate licence would require existing real estate brokers and associate brokers to take condominium management education in order to retain their broker or associate broker licences, even if they do not intend to manage condominiums.
RECA will continue to notify all stakeholders when there are any updates concerning the licensing of condominium managers.