Resolution 1996-6 of the Real Estate Council of Alberta

WHEREAS by Rule 34(5) under the Real Estate Act, S.A. 1995, c. R-4.5, the Real Estate Council of Alberta (the "Council") has the power, duty and responsibility to prescribe the guidelines to be followed by the accountant in making an examination for the purposes of the Accountant’s Report;


THEREFORE BE IT RESOLVED THAT:
  The Council hereby prescribes the Table of Recommended Minimum Examination Guidelines attached hereto as Schedule "A" as the guidelines to be followed by the accountant in making an examination for the purposes of the Accountant’s Report.

DATED at Calgary, Alberta on this 9th day of July 1996.


SCHEDULE
REAL ESTATE ACT
TABLE OF RECOMMENDED MINIMUM EXAMINATION GUIDELINES

For use in completing the Accountant's Report.


Real Estate Trades - Non-Property Management

Estimated Monthly Real Estate Trades Buy/Sell
Recommended Examination Numbers in the Selected Month (except where the Accountant's Report requires a specific number)
0-50
Examine all to a maximum of 10
51-200
Examine 20%
over 200
Examine 40
   
   


Real Estate Trades - Property Management

Number of Properties Managed in the Selected Month
Recommended Examination Numbers in the Selected Month (except where the Accountant's Report requires a specific number)
0-50
Examine all to a maximum of 10
over 200
Examine 20% to a maximum of 20
   
The properties selected should be representative of the agent's monthly rental income. As a further guide, the sample size should be in the following recommended proportions.
   
Clients Estimated Monthly Rental Income in the Selected Month
% of Sample
Under $1,000
40
$1,001 - $5,000
20
$5,001 - $10,000
20
$10,001 - $30,000
10
Over $30,000
10
   
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