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We recently hosted our final webinar of 2025, shining a spotlight on Magnum York Property Management and the critical role management companies play in supporting property owners and boards. Led by Alex Casuga, President of Magnum York and Associate Broker, the session offered a deep dive into the legislative framework, fiduciary responsibilities, and the value of professional property management.

Magnum York manages over 700 properties across 16 cities in Alberta, offering expertise in condos, rentals, HOAs, and mixed-use properties.

Understanding the Legislative Framework

Property management in Alberta operates within a well-defined legal structure designed to protect property owners, tenants, and the integrity of the real estate industry. During the webinar, Alex highlighted the three key pieces of legislation that govern how management companies like Magnum York operate:

1. Real Estate Act and Rules
The Real Estate Act of Alberta is the cornerstone of property management regulation in Alberta. It sets out licensing requirements, professional standards, and the obligations of brokerages and their associates. Under this Act:

  • All licensed property managers must act honestly, provide competent service, and fulfill fiduciary duties to their clients.
  • They are prohibited from misleading clients, engaging in fraudulent activity, or undermining public confidence in the industry.

2. Condominium Property Act
For condominium properties, the Condominium Property Act outlines the responsibilities of condominium corporations, boards, and managers. It governs everything from bylaw enforcement to reserve fund planning. Managers must ensure compliance with these rules while advising boards on governance and financial health.

3. Residential Tenancies Act
When managing rental properties, the Residential Tenancies Act dictates the rights and obligations of landlords and tenants. It covers lease agreements, rent collection, maintenance standards, and dispute resolution processes.

Oversight and Accountability
All licensed managers and brokerages report to the Real Estate Council of Alberta (RECA), which enforces these laws and provides guidance on best practices. This oversight ensures transparency, consumer protection, and professional conduct across the industry.

For nearly 35 years, Magnum York has been providing management services with two separate brokerages – our Property Management Brokerage & Condominium Management Brokerage

Who needs a RECA License?

In Alberta, anyone making decisions on behalf of a property owner, such as interpreting financial statements, enforcing bylaws, or negotiating contracts, must hold a license under the Real Estate Act. Unlicensed staff can assist with administrative tasks, such as collecting payments or scheduling maintenance, but they cannot perform activities that involve fiduciary responsibility or legal interpretation. This distinction ensures accountability and protects property owners from risk.

Who Needs a RECA License?

Clients Vs. Customers

Under a management agreement, the client is the party that signs the contract, typically a condominium corporation or property owner. The brokerage owes fiduciary duties to this client, including honesty, competent service, and compliance with legislation. Customers, such as tenants or individual unit owners, do not have a contractual relationship with the brokerage but are still entitled to fair treatment, access to their own records, and protection of their personal information.

Governance vs. Management

Governance is about setting direction, making strategic decisions, and monitoring results, think of it as the board acting like an investor overseeing a multi-million dollar asset. Management, on the other hand, is the day-to-day execution: handling maintenance, enforcing bylaws, managing finances, and responding to inquiries. By delegating operational tasks to a licensed property manager, boards can focus on priorities such as financial health, establishing regular meeting rhythms, and long-term planning, rather than micromanaging processes. This separation ensures efficiency, compliance, and better outcomes for the community.

Technology and Transparency

Magnum York’s integrated technology stack provides clients with real-time access and visibility to financials, service tickets, and property data through two portals:

These tools enhance communication and accountability. Creating a service ticket is simple. Visit magnumyork.com/service.

Commitment to Education and Service

Magnum York differentiates itself through:

  • Dedicated, licensed professionals supported by a team
  • Best-in-class accounting led by an in-house CPA
  • Advanced technology integrations
  • Ongoing education for clients and staff through webinars and blogs

Top Questions from the Webinar Q&A

Q1: Can owners access invoices for work done on their property?
A: Yes. Through the My Web Portal, clients can view the “Bills Paid” report, which includes copies of invoices, payment details, and approval history. This ensures full transparency on expenses.

Q2: What’s the difference between regular and preferred vendors in terms of payment?
A: All vendors are paid within 30 days of completed work, provided invoices meet prompt payment legislation requirements. Preferred vendors, who register for direct deposit through Magnum York’s portal, are processed weekly and often up to 14 days faster than regular vendors.

Q3: Are windows and doors covered for repairs in condos?
A: It depends on your bylaws. If bylaws specify that the corporation is responsible, repairs are covered by the condo corporation. If not, the cost falls to the owner. In the absence of bylaws, the Condominium Property Act applies.

Q4: How can someone request a quote for rental management services?
A: Visit https://magnumyork.com/rental-proposal/ to submit a rental management proposal.

Q5: How often should a property manager inspect their sites?
A: Inspection frequency is defined in the management agreement. Some agreements are financial-only, requiring no site visits, while others specify regular inspections. Remote managed sites may have minimal physical visits.

Q6: Why do condo fees increase?
A: Fees reflect actual operating costs and inflation. Boards review prior-year expenses and set budgets accordingly. Most costs like utilities, maintenance and insurance are fixed, so unless services are reduced, increases are often unavoidable.

Further Resources:

Magnum York Surveys City Landscape

Click Here To Get a Free, No-Obligation Management Proposal for your Condo

Author

Jessica Davies

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