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The Real Estate Council of Alberta (RECA) will begin to regulate condominium managers as licensing will become mandatory as of December 1, 2021. All individuals and companies who provide condominium management services in Alberta (whether they are already licensed with RECA in another industry or not) must follow the same criteria and meet the same standards. Licensing will ensure that condominium managers adhere to the Standards of Practice that detail responsibilities, prohibitions, and practices.
Magnum York has been on the forefront of the introduction of Alberta Condo legislation. Our new brokerage starts Dec. 1 with licensed condo property managers.
The new legislation will follow the current licensing guidelines for Property Managers. Each manager will need to be personally licensed and also belong to the Brokerage. The Brokerage would also need to have a Broker that is recognized as a Condominium Manager Broker.
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Difference between Condo Management & Property Management
Condominium management is a separate industry from property management. Those who would like to practice both would need to do so under two separate brokerages. In order to provide condominium manager services, a condominium management brokerage license is required, and in order to provide property management services, a real estate brokerage license will be required.
Should a company wish to offer both services, they will need two brokerage licences, however, each brokerage can operate under the same corporation.
What is Condominium Management?
Section 1(1)(e2) of the Real Estate Act gives the definition of condominium management service:
(e.2) “condominium management service” means the exercising of a power or the performing of a duty of a condominium corporation on behalf of the condominium corporation including, but not limited to,
- collecting, holding or disbursing, or attempting to collect, hold or disburse, contributions levied by the condominium corporation or other amounts levied by or due to the corporation under the Condominium Property Act,
- enforcing the bylaws or rules of the corporation,
- negotiating or entering into contracts on behalf of the corporation, and
- supervising employees or contractors hired or engaged by the corporation, but does not include any activity excluded by the Condominium Property Act, this Act or the regulations under either Act;
Condo Managing Licenses
Condominium manager licenses are broken down into three license classes:
- Condominium Manager Broker
A broker is the individual in charge of a brokerage and there is only one broker per brokerage. - Condominium Manager Associate Broker
An associate broker is an individual who has all the qualifications to be a broker, but is not in charge of the brokerage. They must be registered with a brokerage in order to offer condominium manager services on behalf of that brokerage - Condominium Manager Associate
An associate is an individual who offers condominium manager services on behalf of a brokerage, and must be registered with that brokerage. There can be multiple associates and associate brokers registered to a brokerage.
Brokerages themselves must also be licensed.
Challenging Exams
RECA strongly encourages existing condo managers to enroll in the pre-licensing courses to be recognized by RECA. However, RECA will allow individuals who meet the basic eligibility criteria of having provided condominium management services for at least 75 days prior to December 1, 2021, to be eligible for a conditional license.
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