Consumer Alert: BCFSA Seeks Information on Alleged Unlicensed Rental Property Management

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This consumer alert is for people who own rental properties in Greater Victoria.

Owners of rental properties in the Greater Victoria Region who have used the services of Radoslava Stoycheva and/or her company Victoria Royal Vacations Inc. (“VRV”) are asked for their assistance in support of BCFSA’s ongoing investigation into their activity. On August 11, 2025, BCFSA accepted an Undertaking under the Real Estate Services Act (“RESA”) for Stoycheva and/or VRV to immediately cease and desist from all unlicensed real estate activity.

Rental property owners who have used Stoycheva’s or VRV’s services, or who have been approached by either, can contact BCFSA and share information of your interactions. They can contact BCFSA investigators through our BCFSA complaints portal or send an email to realestate@bcfsa.ca.

In accordance with section 53.1 of RESA, Stoycheva, who is the sole director of VRV, has agreed to immediately cease and desist from providing (or offering to provide) real estate services in British Columbia, unless permitted under RESA or in circumstances in which an exemption under RESA or the Real Estate Services Regulation applies. This includes real estate services provided without a fee but in expectation of indirect and/or future remuneration.

If Stoycheva breaches the Undertaking or RESA, she can personally face administrative penalties up to $100,000, fines up to $250,000, and fines up to $500,000 for her VRV corporation.

BCFSA seeks the assistance of the public to understand the scope of activity that may have taken place prior to BCFSA accepting this undertaking from Radoslava Stoycheva and her company Victoria Royal Vacations Inc. BCFSA’s investigation is ongoing and anyone with information should contact investigators through our BCFSA complaints portal or by emailing realestate@bcfsa.ca. Any rental property owner who is using (or considering) a rental property manager should always verify that the person holds a BCFSA licence on our website at Find a Professional | BCFSA.

Additional information 

About BCFSA

B.C. Financial Services Authority (“BCFSA”) is the province’s regulator for the financial services sector that helps to protect British Columbians during some of the most important financial decisions of their lives. As a Crown agency of the Government of British Columbia, BCFSA oversees credit unions, trust companies, insurance companies, pension plans, mortgage services, real estate services, real estate development marketing, and money services. BCFSA also administers the Credit Union Deposit Insurance Corporation of British Columbia (“CUDIC”). BCFSA’s mission is to instill confidence in the financial services sector by focusing on the safety and soundness of regulated entities and consumer protection.

Media Contact:

Kate Bilney
Communications Manager, media@bcfsa.ca
Visit: www.bcfsa.ca