Real Estate Service Rules “Office Signage Required”
Cartref Properties started operating in March of 2020, the same day the pandemic started. Cartref Properties is a licensed brokerage providing rental property management services to investor owners specialising in products located in Strata Corporations.
In order to operate a licensed property management company in BC one has to obtain the proper licensing from BCFSA. Every brokerage must have a Managing Broker who is actively engaged in the management of the business, and may only offer the services the brokerages have licensing for. There are three forms of licensing under BCFSA. Sales which is referred to as Trading, Strata Management which is the management of Strata Corporations and Rental Management which can include rental building management and individual unit management.
BCFSA has many rules and regulations agents, brokers and brokerages must adhere to while operating their business called the Real Estate Service Rules. When I was opening my brokerage I would indicate to friends who owned different types of businesses about a particular rule in the Real Estate Service Rules. Rule 36 requires all brokerages to display a business sign at the entry of the building where the brokerage head office is located. Friends would say I am not required to have that and I had to explain it is a specific rule to the Real Estate industry.
The reason for the rule is to clearly identify for the public that a real estate brokerage is located at the brokerage’s address location. This is to help protect the public from business opening in locations where it is difficult for the public to access. Home based businesses are permitted if they meet the requirements, though they must still meet the sign requirement at the entry of the property. By requiring the brokerage to have signage at the entry of the building it adds professionalism to the industry. Whatever building the brokerage head office is located in the name of the business must be displayed on the building directory.
When searching for a property management company it is important to select a company to represent you who is following the rules and regulations to ensure your property is not subject to claims of impropriety. If your property management company doesn’t have their business sign at the entrance of the building where the office is located they are in violation of the Real Estate Service Rules. BCFSA’s website has a section where the public can identify if their property manager is licensed and this will also indicate the location of the brokerages office. This service makes it easy for the public to visit the location of the brokerage to identify if the company exists.
Licensed property managers must take law full direction from their clients when performing their duties. If a brokerage is violating the Real Estate Service Rules, how are they going to manage your property, what other rules may they choose not to follow, and how will that affect your property.
Cartref Properties is located at 310-220 Brew Street In Port Moody
Need professional assistance managing your rental property, Cartref Properties can assist you, call today to discuss your needs. You can find more information about us at: www.cartrefproperties.com
