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Rental Property Manager Receives $30,000 Penalty and Suspended Licence for Professional Misconduct
BCFSA has suspended the licence of Donald Nichol for one year and ordered him to pay a $30,000 penalty and $2,000 in enforcement expenses for committing professional misconduct while managing a rental property.
Nichol was found to have committed misconduct while managing a rental property under Pacific Quorum Properties Inc. in Surrey, B.C between February 2016 and May 2017, when he failed to:
- Collect a required security deposit and an initial rent payment;
- Follow his clients’ instructions regarding two tenancy agreements;
- Enter the correct address on a residential tenancy agreement that affected tenancy dispute resolutions;
- Make reasonable efforts to collect a monetary penalty from tenants;
- Conduct a mandatory move-in inspection; and
- Conduct a credit check on prospective tenants.
Disciplinary Actions
As part of the Consent Order agreed upon by Nichol and the Superintendent of Real Estate, the following disciplinary actions have been imposed:
- Nichol’s licence will be suspended for one year, effective June 21, 2024; and
- Nichol is required to pay a disciplinary penalty of $30,000 as well as $2,000 in enforcement expenses to BCFSA.
Failure to adhere to these terms may lead to further disciplinary actions, including additional suspension or cancellation of Nichol’s licence.
“Licensees have a duty to act in their clients’ best interests and in accordance with their clients’ legal instructions,” said Jonathan Vandall, Vice President of Compliance & Enforcement at BCFSA. “The penalty reflects the licensee’s failure to meet their core responsibilities, including duties to act with reasonable care and skill.”
More Information
Media Contact:
Kate Bilney
Communications Manager, (778) 357-1634
Visit: www.bcfsa.ca