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23 Cards in this Set
- Front
- Back
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Standard for conduct are identified in which following ways |
Service agreements Provincial legislation RECA real estate act rules |
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Which 2 legislations govern property managers |
Real estate act Condominium property act |
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Property managers roles |
Carry out initial tasks of attracting and signing renters through advertising and negotiating. Holding rental payments on owners behalf. Perform necessary duties to keep property lease.Managing all documentation and records Holding rental payments on owners behalf. Perform necessary duties to keep property lease. Managing all documentation and records |
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Service agreements |
Establish relationship with client To avoid litigation, it is critically important for the service agreement to include a section addressing limitations associated with the property manager's liability and the performance of their duties |
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Client relationship |
Establishes fiduciary responsibility |
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Customer relationships |
Someone who is contracted with a licensee to receive limited services. The property manager must remain objective and impartial and only share information when authorized to do so |
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Primary standard for securing client or customer property |
Party responsible must take reasonable steps to preserve and maintain assets |
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Secondary standard for securing client or customer property |
Set out in any contracts between the parties. If the contract sets out a higher standard than the higher standard must be achieved |
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Professional standards |
-Privacy of the individual -Protection of data, content and privileged information -Form of transparency to ensure comfort and understanding of practices put in place by the property manager |
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PIPA - accountability |
Responsible for all information under their control. Specific person must be elected to ensure compliance |
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PIPA - identifying purposes |
Must identify the purpose of which personal information is being collected |
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PIPA - consent |
Required for all collection, use and disclosure of any personal information |
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PIPA - limiting collection |
Limit to only what they need and what is required |
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PIPA - limiting use, disclosure and retention |
Only used and disclosed for the purposes identified. Should not be retained any longer than required |
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PIPA - accuracy |
Duty to accurate, complete and current information as possible |
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PIPA - safeguards |
Protect with appropriate security measures |
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PIPA - openness |
Policies and procedures readily available to the public |
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PIPA - individual access |
Individual requests for information the property manager must comply |
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PIPA - challenging compliance |
Individuals can challenge compliance with privacy legislation |
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What to do if there is a breach with information |
Must notify the affected party and client as well as the Alberta privacy commissioner if a reasonable person that there is a real risk of significant harm |
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Fulfilling duty of care obligations |
Provide services in the name that appears on The brokerage license. Brokerage name is clearly indicated in any relevant advertisements.Enter into a written service agreement with owner or landlord prior to providing services Enter into a written service agreement with owner or landlord prior to providing services |
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Duty of care |
Obligation to adhere to a sufficient standard of care in the course of providing and performing their duties under their terms of the service agreement |
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Unlicensed assistance-what they can't do |
Show properties Answer public questions related to the property Represent themselves as real estate professionals Negotiate transactions Hold public open houses |
