The Oversight Role of RECA
RECA’s oversight ensures that condominium managers adhere to industry standards and provide ethical, professional services.
WHAT YOU'LL LEARN
The Oversight Role of RECA
The Rule-Making Process by Industry Councils
Limitations on Rule-Making Authority
The Oversight Role of RECA
RECA’s oversight ensures that condominium managers adhere to industry standards and provide ethical, professional services. By managing the licensing process, enforcing compliance, and overseeing Industry Councils, RECA creates a regulatory environment that protects both consumers and licensees.
The Rule-Making Process by Industry Councils
Industry Councils are essential in drafting Rules that govern day-to-day practices. Their responsibilities include:
Defining the qualifications for licensing.
Establishing professional standards for conduct and operations.
Drafting Rules that address specific industry challenges, such as trust account management or disclosure obligations.
For example, an Industry Council may create Rules requiring licensees to complete annual education to maintain their licenses.
Limitations on Rule-Making Authority
The REA establishes clear boundaries for the authority of Industry Councils:
Rules must not contradict legislative mandates outlined in the Act or its Regulations.
Councils cannot impose financial obligations or operational requirements that exceed their scope of authority.
By ensuring compliance with the REA, Industry Councils maintain a balance between enforcing standards and avoiding overreach.
