David John Hensman, Teamwork Property Management Ltd., Abbotsford

 

Respondent:    

DAVID HENSMAN
TEAMWORK PROPERTY MANAGEMENT LTD.

File:   08-574

Date of Consent Order:   April 14, 2011                      

Issue: Teamwork Property Management Ltd., Abbotsford, entered into a Consent Order with the Council that it committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that it: (a) contravened section 27(2)(b) of the Real Estate Services Act by transferring lump sum strata management fees, part of which were earned by the brokerage and part of which were earned by the strata management licensees providing strata management services, directly from the operating trust account maintained for each of 13 strata corporations into the brokerage general operating account, rather than transferring the share for the licensees directly into the brokerage operating trust account and then paying the licensees ’ share from the brokerage operating trust account; (b) contravened section 30(1)(g) of the Real Estate Services Act in that it transferred lump sum funds from the trust account maintained for the said strata corporations to the brokerage general operating account as strata management and administration fees which exceeded the actual amount of the brokerage fees earned, thereby causing the said trust account to become in an overdraft position; and (c) contravened section 7-5(1)(a), 7-5(1)(b) and 7-5(3) of the Council Rules between January 1, 2009 and May 31, 2009 in that brokerage ’s trust account ledger was in an overdraft position and steps were not taken to eliminate the negative balance and to notify the Council of the negative balance within 10 days of the negative balance arising.

Issue: David John Hensman, managing broker, Teamwork Property Management Ltd., Abbotsford, entered into a Consent Order with the Council that he committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that he contravened section 3-1(3)(a) of the Council Rules between January 1, 2009 and June 30, 2009 by failing to ensure the brokerage ’s trust account was maintained in accordance with the Act, regulations, rules and bylaws: (a) when he transferred, or allowed to be transferred lump sum strata management fees, part of which were earned by the brokerage and part of which were earned by strata management licensees providing strata management services, directly from the operating trust account maintained for each of 13 strata corporations into the brokerage general operating account rather than transferring the share for the licensees directly into the brokerage operating trust account and then paying the licensees ’ share from the brokerage operating trust account; and (b) when he permitted the brokerage to transfer lump sum funds from the trust account maintained for the said strata corporations to the brokerage general operating account as strata management and administration fees that exceeded the actual amount of the brokerage fees earned, thereby causing the said trust account to become in an overdraft position.

Result: Teamwork Property Management Ltd. was reprimanded.

Result: David John Hensman was reprimanded and was ordered to successfully complete the disciplinary education assignments applicable to Chapter 2 (Mandatory Requirements under The Real Estate Services Act) of the Broker ’s Licensing Course.

Result: Teamwork Property Management Ltd. and David John Hensman were ordered to be jointly and severally liable to pay a discipline penalty to the Council in the amount of $2,500.00 and to pay enforcement expenses to the Council in the amount of $1,000.00.

P: May 16, 2011 R:  May 16, 2012