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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

(d) Strata Management Services

In addition to the general record keeping requirements described above, a brokerage that provides strata management services is required by section 8-7.1  of the Rules to maintain separate books and records for each strata corporation on whose behalf the brokerage provides strata management services.

Section 8-7.1(2) of the Rules provides that a brokerage must retain the following records with respect to each strata corporation:

  • any accounting statements prepared by or on behalf of the brokerage that are provided to the strata corporation;
  • invoices for expenditures incurred on behalf of the strata corporation;
  • copies of the monthly statements from savings institutions that have been provided to the strata corporation and copies of the monthly reconciliation provided to the strata corporation in relation to those statements.