Question 1

Do property managers need a license in Canada?

Accepted Answer

Licensing varies by province: BC requires BCFSA real estate licensing, Ontario requires RECO registration for trading activities, and Alberta requires RECA licensing.

Question 2

Are there rent control rules property managers must follow?

Accepted Answer

Yes, Ontario has annual rent increase guidelines, BC has annual allowable increases, and Quebec has TAL guidelines. Property managers must comply with these limits for residential properties.

Question 3

How must tenant deposits be handled?

Accepted Answer

In most provinces, security deposits and last month's rent must be held in a trust account. Ontario only allows last month's rent deposits. Interest on deposits may be required in some provinces.

Frequently Asked Questions