The Real Estate Council of Alberta’s (RECA) consultation on and implementation of Real Estate Act amendments for the regulation of condominium managers is on hold pending the Government of Alberta’s completion of its work with respect to the Condominium Property Amendment Act and accompanying Regulations. For more information on the Government of Alberta’s progress, please visit the Service Alberta website.
In the meantime, RECA wants to take this opportunity to clear up some of the misinformation that is circulating about this initiative, and the eventual licensing and regulation of condominium managers.
- Condominium owners will be able to file complaints against condominium managers. While RECA recommends that owners first approach their condominium Board if they believe their condominium manager breached legislation and/or the industry standards of practice in place, if the Board is unwilling to file a complaint – condominium owners can submit a complaint to RECA, and RECA will review it. RECA is statutorily required to investigate written complaints against licensees regardless of who files the complaint.
- Prior to drafting the industry standards of practice for condominium managers, RECA will launch the second round of consultation with stakeholders. The first consultation, which RECA led in Fall 2015, was to gather feedback from stakeholders on the proposed regulatory model (including education, licensing requirements, bonding, insurance requirements, etc.). You can also review results from the first consultation.
- The Real Estate Council of Alberta has not yet set licensing fees for condominium managers. The expectation is that licensing fees will align with other industry members that RECA licenses and regulates, which currently is $475/year.
- RECA will continue to administer the Real Estate Act and the Real Estate Act Rules, which will contain the industry standards of practice for condominium managers. The Government of Alberta, through Service Alberta, will continue to administer the Condominium Property Act and the Regulations associated with that piece of legislation. You can review the Condominium Property Act and planned amendments to that piece of legislation on Service Alberta’s website at www.servicealberta.ca.
Thank you again for your interest in this project.