RECA continues preparations for consultation on and implementation of Real Estate Act amendments for the regulation of condominium managers, and will be ready to consult with stakeholders when the Government of Alberta completes the Regulations under the Condominium Property Amendment Act.
RECA’s Condominium Manager Implementation Advisory Committee met on February 20, 2018 to review the status of RECA’s project. When the Government of Alberta concludes its work on Stage 2 Regulations under the Condominium Property Amendment Act, RECA anticipates it will start its Phase 2 consultations. It is anticipated regulation of condominium managers under the Real Estate Act will take place after those Phase 2 consultations are complete.
If you would like information about the Government of Alberta’s progress on CPAA Regulations, please visit the Service Alberta website at: http://www.servicealberta.ca/Consumer-condominiums.cfm.
In December 2014, the Government of Alberta passed legislation that will require licensing for condominium managers. When the legislation takes effect, the Real Estate Council of Alberta (RECA) will be responsible for setting standards, licensing and regulating individuals who provide condominium management services.
In fall 2015, RECA launched a consultation to gather feedback from condominium industry stakeholders, including condominium managers, boards, owners and consumers on the proposed regulatory model for condominium managers. That consultation process included a consultation paper and town-hall meetings in Medicine Hat, Lethbridge, Ft. McMurray, Lloydminster, Edmonton, Edson, Grande Prairie, Calgary and Red Deer. Stakeholders were invited to respond to the consultation paper in writing by December 9, 2015 and attend one or more of the town hall meetings.
Results from Phase 1 consultation: Council approved a Regulatory Model for Condominium Managers.
The Real Estate Council of Alberta’s (RECA) Condominium Manager Implementation Advisory Committee (CMIAC) recently completed Phase 1 of the Condominium Manager Regulation Consultation. As a result of this consultation, CMIAC provided, and Council approved, recommendations in six areas:
Bonding or real estate assurance fund recommendation
Trust account audit & review program recommendations
Professional liability insurance recommendation
Unlicensed condominium manager activity and licensed condominium manager misconduct recommendation