Condolyzers share fraud prevention tips for condo boards
March is Fraud Prevention Month and the Condolyzers in Red Deer are sharing the following tips for both professionally and self-managed corporations to help avoid falling victim to fraud.
Is the manager licensed with RECA?
At the present time, not all managers are required to be licensed in Alberta. However, this is allegedly coming down the pipe. In the meantime, a search of the Brokerage or the individual manager can be conducted on the Real Estate Council of Alberta website at https://reports.myreca.ca/publicsearch.aspx. Both brokerages and induvial with Licenses are held to higher standards. For example, brokerages have period Audits completed to ensure their practices maintain a high-level standard.
Proactive Board of Directors