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20 Cards in this Set
- Front
- Back
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Real Estate Act (REA) |
Governing legislation that overseas Albert real estate, mortgage, PM and condo management REA appointed RECA as authority that overseas PM |
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RECA governance model |
Independent authority that sets, regulates and enforces standards for RE, commercial RE, PM, condo management and Mortgages |
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Board of directors |
3 public members appointed by Minister of Services Alberta 4 licenses appointed from the 4 industries Duties Set strategic direction of council Ensure effective operation of activities Investigate, detect and suppress fraud Protect consumers Support the business of licensees Admin the REA, regulations, bylaws and rules |
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Executive director |
Can't be lic3nced Responsible for daily activities Management Implementing organizational values and mission |
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Registar |
Reports to ED Responsible for regulatory functions Not a licensees Can not be ED(CEO) |
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Industry Councils |
1. RE broker 2. Commercial RE broker + Commercial PM 3. Residential pM (including condo management) 4. Mortgage Broker **each industry council is comprised of 2 public appointees from the Minster Service of Alberta and the licensees elected by the member of that industry group |
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Alberta RE foundation |
Is to advance the RE industry and strengthen Alberta's communities |
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Residential Tenancy Act RTA |
Almost complete code of duties and responsibilities existing between the landlord and tenant of a residential property |
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Fixed term lease |
Tenancy under a residential tenancy agreement for a term that ends on a day specified within the agreement |
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Periodic Tenancy |
Renewed or continued without notice FIXED- may become periodic in certain situations -when tenant maintains possession after termination date Unless given a lease termination - when the lease permits the tenant to remain without notice following the termination date - when the landlord has agreed either expressly or by conduct that the tenant will remain after termination date |
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Exemptions to the RTA |
- mobile home - business premises with living premises and rented under a single lease - room rentals in private homes where landlords live in the same house - residence on military or federal lands - residents on First Nation reserve or federal land - student promises on educational institutions - nursing homes - lodge accommodations run by a management body or by an agreement with the minister responsible for the Alberta Housing Act - hospitals - supportive living accommodations licensed under the Supportive living accommodation licencing act - correctional institutions |
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Residential Tenancy Dispute Resolution Service RTDRS |
Quasi judicial tribunal offers landlords and tenants a method of resolving disputes under the jurisdiction of the RTA without going to court |
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The completion act |
Canada's federal legislation regarding competition in the economic marketplace Maintain and encourage competition in Canada in order to promote the efficiency and adaptability of the Canadian economy While reorganizing the role of foreign competition in Canada |
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False and misleading advertising |
Competition act protects consumers from false and misleading information - legislation aims to safeguard honest businesses and consumers in the marketplace from deceptive practices and false misleading representations |
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Anti-competitive business practices |
Cartel agreements Boycotts Anticompetitive agreementsCartel agreementsBoycottsMisuse of Market powerExclusive dealingResale price maintenance Misuse of Market power Exclusive dealing Resale price maintenance |
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Tort law |
Addresses damages caused by conduct rather than issues related to the property itself Tort law applies in cases where the other party's contract causes mental or physical inquiries Discriminatory Behavior may lead to a claim for damages under the Alberta Human Rights Act |
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Alberta minimum housing and health standards |
Protect and promote the health and well-being of occupants of rental housing premises and those who may reside in the immediate vicinity of such premises Establishes minimum conditions which are essential to good health and which make housing premises safe sanitary and fit for human habitation. Building must be kept waterproof, windproof and weatherproof All windows and doors must be in good repair and waterproof. Outdoor Windows must be capable of being locked Stairs,railings, walls, windows, ceilings, floors, furnace must be in good repair Whatever utilities are provided must be maintained Running water must be hot between 46 to 60 degrees Celsius Must provide a refrigerator and stove and working order Must be free of any pest infestation |
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Enforcement of standards |
Minimum housing and health standards are enforced by Public Health Inspectors and executive officers of regional health authorities Alberta Health can order that a unit or a whole property be deemed unfit for human habitation and issues in order to vacate |
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Occupational health and safety act OHS ACT |
Governs workplaces with one or more employees and also applies to contractors Promote maintenance of physical, psychological and social well-being of workers Prevent work site incidents, injuries, illness or disease Protection of workers from factors and conditions advise to their health and safety Ensure all workers have the following -Informed of worksite hazards -Rate and meaningful participation in health and safety activities pertaining to their work and work site - right to refuse dangerous work - Billie Jean to work without being subject to disciplinary action for exercising the right or fulfilling a duty imposed by this act, the regulations or the OHS code |
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Alberta Human Rights Act |
Affirms basic human rights and prohibits discrimination various contexts in Alberta and establishes the Human Rights Commission to hear complaints of violations of those rights |
