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Real Estate Developers: Consultation on Proposed Fee Changes
Tags for 'Real Estate Developers: Consultation on Proposed Fee Changes '
Closed
Launched: 9 August 2023
Closed: 9 September 2023
BCFSA thanks those who took the time to participate in the consultation on proposed changes to the fees it collects from real estate developers. The comment period closed on September 9, 2023.
To see what consultation participants had to say and to learn how BCFSA raised awareness of the consultation opportunity, please see the Consultation Summary Report.
The new fees received provincial Cabinet approval and take effect on September 1, 2024.
Background
BCFSA does not receive funding from the Government of British Columbia. Most of BCFSA’s revenue comes from filing, registration and application fees paid by regulated entities and individuals under the various statutes.
REDMA fees have not changed since January 2019, and they do not currently recover the costs to administer the Act. The proposed increase in fees would ensure the REDMA program is fully funded and would position BCFSA to meet increased public expectations relating to real estate consumer protection.