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Peter Ho Chiu Chu must complete a rental property management licensing course at UBC to keep working
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An unlicensed Vancouver residential rental property manager has been shut down for refusing to take a $1,550 licensing course at UBC.
In a ruling released Thursday by the Superintendent of Real Estate, it is stated that Peter Ho Chiu Chu and his company 168 Rock Solid Homes breached the Real Estate Services Act by acting as a rental agent without a licence — and were now ordered to stop.
The case dates back to Aug. 2019 when the Superintendent’s office received a complaint alleging Chu was providing rental property management services without a licence.
Seven months later, the office sent a letter to Chu advising him of the claim made against him and asking for financial details of his business — including a list of the properties he managed.
In May 2020 Chu told the office that he provided rental property management for around 30 primarily foreign-owned residential properties in Metro Vancouver, for which he took an 8.33 per cent cut.
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The Superintendent’s office then asked for more financial details, after which Chu said he was no longer being paid for his services — that included collecting rent and damage deposits and making maintenance payments on behalf of owners.
In response, Superintendent of Real Estate Michael Noseworthy wrote “Where Mr. Chu purports to be providing real estate services without accepting a fee, I am satisfied these services are in expectation of future remuneration.”
He also noted that as of Dec. 2020 there is no record of Chu enrolling in the required licensing course at the UBC Sauder School of Business.
The rental property management licensing course is administered on behalf of the Real Estate Council of B.C. and costs $1,150. Participants have a year to complete the course and must prove that they are proficient in English.
“Given Mr. Chu’s stated intention to continue providing rental property management services without a licence, he is likely to continue putting the public at risk,” Noseworthy wrote.
“In particular, the funds Mr. Chu collects from tenants are not held in trust; without a licence, Mr. Chu cannot be insured to hold the funds; the tenants and owners may be unaware of the risks to them due to Mr. Chu not being qualified or licensed to provide the rental property management services; and verification of compliance is made additionally difficult for the properties with non-resident owners.”
Noseworthy ordered Chu to “cease providing, including offering to provide, directly or indirectly, real estate services, including rental property management services, in British Columbia, effective immediately, unless and until they become licensed to do so under RESA. This includes rental property management services provided without a fee but in expectation of future remuneration.”
Chu may appeal the order.
dcarrigg@postmedia.com
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