RECA Changes Announced

On June 3, 2020, major changes were announced to the Real Estate Act, the legislation that governs realtors, mortgage brokers, appraisers, and property managers in Alberta. The changes stem from a 2019 KMPG review which criticized RECA’s former counsel, following which the council was dismissed and an administrator was appointed. 

While most of changes relate to governance and oversight of RECA, of particular note to condominium managers is that they will officially be managed under RECA. The timeline to complete that process remains unclear as as it depends on how quickly RECA develops manager licensing requirements.  

Another major change for […]