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Rental Property Management
Real estate professionals licensed for rental property management provide real estate services to or on behalf of owners of rental real estate. Services that rental property managers provide include:
- Helping owners find tenants for their properties;
- Advising on the appropriate rent for a rental property;
- Advertising and showing rental properties;
- Assisting with tenant applications;
- Negotiating the rental rate on behalf of the owners;
- Collecting rent or security deposits; and
- Managing the rental real estate on behalf of the owners.
All licensed rental property managers provide their services through real estate brokerages. They are overseen by a managing broker who has responsibility for the activities of the professionals at the brokerage.
Step-by-Step Licensing Guide
This step-by-step licensing guide gives you an overview of the education and training required to become licensed as a rental property manager in B.C.
Make sure you also read about Real Estate as a Career, which gives you important information about:
- The real estate industry;
- BCFSA’s licensing and education requirements; and
- An outline of anticipated expenses and budget items.
The Rental Property Management Licensing course is offered by the UBC Sauder School of Business, Real Estate Division.
The course is flexible in order to meet the needs of busy adult learners, with just enough structure to ensure high-quality learning. You can register at any time during the year for this self-paced blended learning course. For more course information and to register online, please visit the UBC Sauder School of Business, Real Estate Division’s Rental Property Management Licensing course.
Students in the licensing course must:
- Complete all course assignments within one year of registering. The course assignments take a minimum of 10 weeks to complete. On average, most individuals complete the course and exam within six months, based on completing one assignment a week. Each assignment takes approximately 10-12 hours to complete.
- Obtain a minimum grade of 70% on the licensing examination.
For detailed information regarding the course topics, you can view the Table of Contents.
The following student support services are included in the course tuition fee:
- Tutorial assistance from course specialists, through a toll-free number and email.
- Online course resources containing: course updates, study materials, schedules, discussion forums, and tutorial information.
If you feel that you have previous education or experience that would exempt you from either the Licensing course or Examination, please review BCFSA’s Education Exemption Guidelines.
IMPORTANT NOTE ABOUT EXTERNAL TUTORS/LECTURES.
Students are encouraged to take advantage of the tutorial assistance and lectures provided with their Rental Property Management Licensing course rather than spending additional money on external tutors/lectures.
BCFSA and the UBC Sauder School of Business, Real Estate Division are not affiliated with any external tutorial classes. These services are not monitored and BCFSA and the UBC Sauder School of Business, Real Estate Division cannot be responsible for any information provided by these individuals or companies.
External tutorial companies regularly make false claims, such as “only 30% of students pass the exam” or “we’ll guarantee that you will pass the exam” so that you will spend your money with them. Remember, there are no guarantees and the UBC Sauder School of Business, Real Estate Division works with all students to provide every opportunity for success.
Begin talking to real estate brokerages to find the brokerage that is the right fit for you, and to make arrangements to join the brokerage when you are licensed. Your license application must be approved by the managing broker of a real estate brokerage in B.C. that is prepared to engage you.
You must complete a criminal record check within 90 days prior to submitting your licence application to BCFSA. If you obtained your criminal record check via the Triton link on the BCFSA website you will be prompted to indicate that in the requirements step in your submission. If you obtained your criminal record check from your local police or RCMP detachment you must upload a copy of the criminal record check document during the submission process. We do not require the original criminal record check to be forwarded to BCFSA’s office. If you have a criminal record or charges to disclose, please also provide a statement explaining the circumstances that gave rise to any convictions or charges as well as copies of sentencing documents. Find more information on the criminal record check requirements.
If you have concerns about your eligibility for licensing, review BCFSA’s Good Reputation, Suitability and Fitness Guidelines. If you still have questions, you may wish to seek legal advice.
After you have successfully completed the Rental Property Management Licensing course and examination, you may apply to BCFSA for licensing as a representative licensed to provide rental property management services by following the steps below:
- Sign up or login into IRIS to begin your online application.
- After you have logged in to IRIS, select “New Submissions” at the top of the page. Then, select “Application for First Time Licence: Individual” from the available applications. Follow the instructions to complete the online application.
- Upload any supporting documentation required. The following documentation is required by all first time applicants:
- A copy of a piece of valid, government-issued photo identification. Check the photo identification requirements; and
- A criminal record check current within the 90 days preceding your submission. If you obtained your criminal record check via the Triton link on the BCFSA website you will be prompted to indicate that in the requirements step in your submission. If you obtained your criminal record check from your local police or RCMP detachment you must upload a copy of the criminal record check document. We do not require the original criminal record check to be forwarded to BCFSA’s office.
You will also need supporting documentation if:
- You are on a work permit or are a permanent resident; or
- You need to support your answers to questions in the Reputation and Suitability section of the application.
- Have your first time application reviewed and approved by your intended managing broker. Once you have completed the online application, you and your intended managing broker will receive an email prompting the managing broker to approve your application in IRIS.
Review and Approval
BCFSA’s licensing staff will review your application. If it is complete and satisfactory, your licence
will be issued. You and your managing broker will receive an email notification on the date of
issuance advising that you have been licensed.
BCFSA will only hold applications in pending status for 90 days. If you are notified that your application is incomplete, or that further information is required, please respond promptly to address the deficiencies.