REAL ESTATE COUNCIL OF BRITISH COLUMBIA
In the matter of the Real Estate Services Act
S.B.C. 2004 ch. 42
AND in the matter of a Consent Order pursuant to Section 41 of the Real Estate Services Act
Respondent: DEDICATED PROPERTY MANAGEMENT LTD.
File: 213-06
Date of Consent Order: February 13, 2007
Complaint:
Contravention of section 25 of the Real Estate Services Act and section 7-5(2) of the Council Rules under the Real Estate Services Act/Brokerage records and negative balance in trust accounts.
Issue:
Dedicated Property Management Ltd., Delta, brokerage, (a) failed to keep proper books, records, accounts and other records, contrary to section 25 of the Real Estate Services Act; and (b) permitted a negative balance in the trust accounts of the brokerage, contrary to section 7-5(2) of the Council Rules.
Result: Dedicated Property Management Ltd. ’s licence was cancelled.
P: Mar 14, 2007 R: no