The Province of British Columbia requires all strata managers in B.C. to be licensed.
Learn more on this page:
BCFSA's role in licensing
Exemptions from licensing
The legal relationship
BCFSA's role in licensing
The BC Financial Services Authority (BCFSA) is responsible for the licensing, education and discipline of real estate service providers, including strata managers and strata management companies (brokerages), under the authority of the Real Estate Services Act (RESA) and the associated Rules.
Under the Real Estate Services Act (RESA), a strata property management company must be a licensed brokerage. The brokerage providing strata property management services can be a company, partnership or sole proprietorship.
Every company must have a managing broker who is responsible for the activities of the company and who supervises individual strata managers and other employees.
A strata manager provides services to the strata corporation on behalf of the brokerage (i.e. the strata management company). In addition to licensed strata property managers, the company may also have other employees such as clerks, accountants or other staff providing services to the strata corporation.
Under the RESA Rules, BCSFA also sets out certain requirements for strata management companies to follow including: record keeping, providing services to sections, and establishing separate trust funds for separate strata corporations and sections.
In addition to the duties imposed on an agent by common law, RESA and the BCFSA Rules establish a code of conduct for licensed strata manager and managing brokers.
BCFSA enforces entry qualifications, investigates complaints against licensees for possible contraventions of the Real Estate Services Act and the Rules and imposes disciplinary sanctions under the Real Estate Services Act. Disciplinary actions are posted by BCFSA.
It is important to note that the BCFSA only enforces the Real Estate Services Act, it does not enforce the Strata Property Act.
Exemptions from licensing
There are some exemptions from the licensing requirement for strata managers. For example, strata lot owners in a self-managed strata corporation do not have to be licensed. Others who may be eligible for exemption from licensing include caretakers/managers, strata lot owners employed by a strata corporation and Owner Developers who meet certain conditions. Find out more about exemptions from licensing.
The legal relationship
An agency relationship exists between the strata corporation, or section, as the principal, and the strata management company (i.e., brokerage) as the agent. The strata management company and their licensees are legally obligated to protect and promote the interests of their principals (whether that is a section or a strata corporation) as they would their own. In April 2013, RECBC issued information bulletins clarifying the responsibilities of strata management companies managing sections to acknowledge and protect these different interests.
References:
Strata Property Act, sections: 4, 10, 24, 30, 32, 33, 34.1, 37-39, 135, 144, 179, 194
Strata Property Regulations: 7.2, 8.2, 18.1
Real Estate Services Act and Rules
Standard Bylaws (which can be amended): 20 and 21
The information on this website about strata housing is provided for the user’s convenience as a basic starting point; it is not a substitute for getting legal advice. Learn more about the site’s purpose and limits. The content on this website is periodically reviewed and updated by the Province of British Columbia as per the date noted on each page: August 31, 2021.
FAQs
If you want to become a property manager, you must obtain the proper license. This ensures that you are qualified and capable of fulfilling the duties and responsibilities of a property manager.
Do you need to be licensed to be a property manager in BC? ›
In order to open your own property management company, you will be required to either satisfy the requirements for a brokerage licence, or hire a managing broker for your company. For information on these requirements, please contact the contact the BC Financial Services Authority at +1 604.660.
How do I get a BC Strata Management license? ›
Step-by-Step Licensing Guide
- Step 1: Register for and Successfully Complete the Licensing Course and Examination.
- Step 2: Talk to Brokerages.
- Step 3: Obtain a Criminal Record Check.
- Step 4: Apply for Licensing.
Licensing Laws
For anyone stepping into managing a property on behalf of the owner, the first requirement is to have a property management license in California. The regulation (10131-b) clearly states that buying, selling, or leasing property without a license, is unlawful.
What can an unlicensed property manager do in FL? ›
What Can an Unlicensed Property Manager Do in Florida? In Florida, unlicensed property managers are limited in what they can do. They can collect rent, but they cannot create a lease or rental agreement. They also cannot advertise the property or show it to potential tenants.
Can anyone be a property manager in Florida? ›
What are the education requirements to become a certified property manager in Florida? In Florida, a person must be at least 18 years old and hold a high school diploma or GED. Additionally, one must successfully complete a pre-licensing course accredited by the Florida Real Estate Commission.
What does a strata manager do? ›
A strata manager keeps everything running
They are paid to keep everything in your strata running smoothly, and to help the owners corporation fulfil all their legal obligations, such as: co-ordinating AGMs and committee meetings. preparing budgets and issuing levies to owners. paying invoices and insurance.
How much do strata managers make in BC? ›
The average strata manager salary in Canada is $67,500 per year or $34.62 per hour.
Do I need a real estate license to be a property manager in Georgia? ›
In Alaska, Delaware, Florida, Georgia, Hawaii, Illinois, Nevada, Virginia and the District of Columbia, property managers must get a specific license. The requirements vary according to each state, but typically you must have a real estate license before getting a permit to work as a property manager.
Can anyone be a property manager in BC? ›
The first step you can take towards becoming a property manager in BC is to register for and complete the Rental Property Management Licensing course from the UBC Sauder School of Business, Real Estate Division. Candidates are required to be at least 19 years of age and to be proficient in English.
To be licensed by the Real Estate Council of British Columbia, property administrators must be at least 19 years old and complete training courses or a program in property or strata management. They must renew their licence every two years and take courses regularly to update their skills.
Who regulates strata managers in BC? ›
The BC Financial Services Authority (BCFSA) is responsible for the licensing, education and discipline of licensees, including strata property managers and strata management companies under the authority of the Real Estate Services Act.
What degree is best for property management? ›
Finance or Accounting degree
The most common degree for property managers tends to be finance-related. Property managers answer to property owners and tenants – both of who are spending or receiving money. Therefore, accounting and money management is part of the property manager's responsibilities.
Can you be a property manager in Texas without a real estate license? ›
If the property manager gets paid to show or lease the property for the owner, a license is required. A license is also required if the property manager accepts or deposits rent from the tenant of a single-family residential real property unit.
How many units would there have to be in an apartment building to make it necessary for the owner to hire an onsite resident manager? ›
California law 25 CCR § 42 requires an onsite manager, maintenance, or other responsible person for rental housing of 16 or more units.
What do you need to do property management in Florida? ›
Property Management Laws
- A high school diploma.
- At least 18 years of age.
- A Social Security number.
- A 63-hour prelicense sales associate course.
- A 72-hour prelicense broker course.
- Electronic fingerprinting.
- Successful completion of the licensing exam.
A community association manager (CAM) license is not applicable to the management of apartment buildings, commercial property or single-family dwellings. There is no state license for a property manager.
What are the requirements to open a property management company in Florida? ›
How to start a property management company in Florida
- Complete a 72-hour pre-licensing course approved by the Florida Real Estate Commission (FREC)
- Submit an application, with an application fee of $91.75 and fingerprints to the state.
- Pass the Florida Real Estate Broker Examination with a grade of 75 or higher.
Florida State requires property management companies to be licensed real estate brokers if they are collecting rent, listing properties for rent or helping negotiate leases. A property manager may be a licensed real estate sales associate.
