I know that the majority of you are located in the United States! I’m located in Ontario, Canada, and I’m looking into Property management! I cannot seem to find any restrictions or licensing requirements, preventing the average person from managing property in Ontario! There is the CMRAO (Condominium Management Regulatory Authority) which from what I have read only applies to condominium properties! Im continuing my search for information, but am struggling to find anything online!
Does anyone from Ontario, or who deals with property in Ontario know of any other legal requirements for managing properties as a third party?!
I do property management and I found same thing that there’s really no regulations which is amazing because were dealing with a very large assets. I purposely set up a trust account with my bank just to have the money that comes in and rent in a separate account to make sure that there’s no issue there
Okay good, yeah I was surprised as well, and so decided to ask! I couldn’t really find anything and wanted to make sure I would be within my legal boundaries, if I went into property management! Obviously what you’re doing is very smart with the bank, that would be an essential to ensure the protection of yourself!!
I can share our contract with you if you private message me your email
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