Hi, a friend has asked me to rent and manage her place for her as she has bought another house and doesn`t want to sell at this time. She also has no desire to manage herself. I seem to recall that this not legally allowed but can`t find the thread. Just wondering if anyone could shed some light on this for me. Thank you very much. Jayne
Can I do PM for a Friend? Yes you can if your are not currently licenced under the Real Estate Act.
As an employee of your friend, the owner, you may. 1- 2 friends oK. 3 or more friends you need a licence.
This can work very well if your friend is in Calgary, and you are in Edmonton. You look after her properties in Edmonton, and she looks after your properties in Calgary.
Basic rules for property management fall under the Real Esate Act of Alberta, administered by the Real Estate Council of Alberta.
Do your homework by going to www.reca.ab.ca
If an owner has more than 1\3 interest in a property, that owner may do their own property management without a licence. Their employees do not have to be licenced.
As an employee of your friend, the owner, you may. 1- 2 friends oK. 3 or more friends you need a licence.
This can work very well if your friend is in Calgary, and you are in Edmonton. You look after her properties in Edmonton, and she looks after your properties in Calgary.
Basic rules for property management fall under the Real Esate Act of Alberta, administered by the Real Estate Council of Alberta.
Do your homework by going to www.reca.ab.ca
If an owner has more than 1\3 interest in a property, that owner may do their own property management without a licence. Their employees do not have to be licenced.
QUOTE (brentdavies @ Apr 16 2009, 10:58 PM) Can I do PM for a Friend? Yes you can if your are not currently licenced under the Real Estate Act.
As an employee of your friend, the owner, you may. 1- 2 friends oK. 3 or more friends you need a licence.
This can work very well if your friend is in Calgary, and you are in Edmonton. You look after her properties in Edmonton, and she looks after your properties in Calgary.
Basic rules for property management fall under the Real Esate Act of Alberta, administered by the Real Estate Council of Alberta.
Do your homework by going to www.reca.ab.ca
If an owner has more than 1\3 interest in a property, that owner may do their own property management without a licence. Their employees do not have to be licenced.
As an employee of your friend, the owner, you may. 1- 2 friends oK. 3 or more friends you need a licence.
This can work very well if your friend is in Calgary, and you are in Edmonton. You look after her properties in Edmonton, and she looks after your properties in Calgary.
Basic rules for property management fall under the Real Esate Act of Alberta, administered by the Real Estate Council of Alberta.
Do your homework by going to www.reca.ab.ca
If an owner has more than 1\3 interest in a property, that owner may do their own property management without a licence. Their employees do not have to be licenced.