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Brokerage Standards Manual

Notice of Change: Information in this manual changed when new agency and disclosure rules came into effect on June 15, 2018. Learn more about the new rules.Notice of Change: Information in this manual changed when new agency and disclosure rules came into effect on June 15, 2018. Learn more about the new rules.

Accounting and Financial Records/Systems

6. General Recordkeeping Requirements

(c) Rental Property Management Services

In addition to the general record keeping requirements described above, section 8-6 of the Rules sets out the records that a brokerage that provides rental property management services must retain and also the specific documents that the brokerage must prepare.

Section 8-6(1) requires a brokerage to retain:

  • the tenancy agreements or other contracts for the rental of the real estate;
  • any accounting statements prepared by or on behalf of the brokerage that are provided to clients;
  • any invoices for expenditures incurred on behalf of clients.

Section 8-6(2) of the Rules requires that a brokerage providing rental property management services must prepare and retain a record of:

  • the tenants at each rental property managed by the brokerage; and
  • the security deposits, pet damage deposits and other deposits paid by each tenant.