The British Columbia Financial Services Authority (BCFSA) issued a consumer alert asking rental property owners in the Greater Victoria region to share information about any dealings with Radoslava Stoycheva and Victoria Royal Vacations Inc. (VRV) as part of an ongoing investigation into alleged unlicensed rental property management activity. BCFSA has accepted an undertaking requiring Stoycheva and/or VRV to immediately stop all unlicensed real estate activity in British Columbia. Under the undertaking accepted on 11 August 2025 under the Real Estate Services Act, Stoycheva, as the sole director of VRV, agreed to cease and desist from providing or offering real estate services unless permitted under the Act or an applicable exemption under the Act or the Real Estate Services Regulation. The restriction also applies to services provided without a fee if performed in expectation of indirect and or future remuneration. If Stoycheva breaches the undertaking or the Act, she can face administrative penalties up to CAD 100,000 and fines up to CAD 250,000, and VRV can face fines up to CAD 500,000. BCFSA is seeking to understand the scope of any activity before the undertaking was accepted and is asking anyone with relevant information to contact investigators via its complaints portal. The alert also advises property owners to verify that a rental property manager holds a BCFSA licence before using their services.

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