RECA Consumer Alert: Ali Ghani - Unlicensed Property Management Activity, Calgary
Calgary, Alberta - Ali Ghani is operating as a real estate broker and property manager in Calgary without having the necessary licence. The Real Estate Council of Alberta (RECA) has issued a penalty of $25,000 to Mr. Ghani for trading in real estate without a licence.
Evidence provided to RECA indicates Mr. Ghani has been managing properties in Calgary since 2010. Mr. Ghani and/or his companies have brokered lease agreements and accepted security deposits and rents on behalf of property owners. These activities require a licence in Alberta.
Ali Ghani is associated with companies operating under the names Prism Group of Companies Inc., Prism, Prism Financial, Prism Realty, and Prism Developments Inc. in Calgary. Mr. Ghani and these companies are not licensed real estate brokers or property managers in Alberta, nor have they ever been.
RECA is the licensing and governing body for property management, real estate brokerage, mortgage brokerage, and real estate appraisal professionals in Alberta. Consumers are encouraged to work only with licensed individuals.
Licensed individuals must meet and maintain rigorous licensing requirements, including:
- providing a Certified Criminal Record Check prior to licensing
- completing comprehensive pre-licensing education and ongoing re-licensing education, and,
- maintaining errors and omissions insurance.
In the event of a licensee’s fraud, breach of trust or failure to account or disburse money in accordance with the terms of trust, a consumer may be eligible for compensation from RECA’s consumer compensation fund. Consumers who work with unlicensed individuals are not eligible for compensation from RECA’s consumer compensation fund.
Consumers can find out if an individual is licensed through RECA’s website, www.reca.ca. Use the “Searching for an Industry Professional” tool.
The Real Estate Council of Alberta (RECA) is an independent, non-government agency, responsible for governing real estate, mortgage broker, property management, and real estate appraisal industry professionals under Alberta’s Real Estate Act. RECA’s mandate is to protect consumers and to provide services that enhance and improve the industry and the business of industry professionals.