The BC Financial Services Authority has issued its largest ever fine to an unlicensed rental property manager in Kamloops, who failed to comply with an order to cease her unlicensed services. BCFSAOfficial | realestatenews rental propertymanager
3:09 PM Apr 28, 2023
“This is a landmark penalty for BCFSA since legislation was updated to increase maximum penalties for misconduct to $250,000,” the BCFSA said in a Bakker also admitted to receiving payment for acting as the rental property manager while unlicensed, for at least nine of the 10 rental properties, according to the BC Financial Services Authority. The 10 properties have not been publicized, but the BCFSA published aThe investigation found that the President of the brokerage Bakker was previously employed at reported her on January 24, 2020.
In a letter on January 6, 2021, the Office of the Superintendent of Real Estate informed Bakker of the allegations made against her and requested that she respond by January 20. She did not, but then did so on January 26, after the OSRE re-sent the letter. Bakker also acknowledged that she was aware that a license was required to act as a rental property manager in BC, “but indicated that she felt like she was simply continuing to do the work she had done” when she was employed at the brokerage. She later admitted that she was not able to sign lease agreements at the brokerage and that rents collected then went into a trust account.
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