The British Columbia Financial Services Authority (BCFSA) issued enforcement outcomes imposing a CAD 75,000 penalty on Peter Ho Chiu Chu and 168 Rock Solid Homes Ltd. for providing unlicensed rental property management services, and a CAD 50,000 penalty on Rui (Rena) Liang and Rena Liang Personal Real Estate Corporation for professional misconduct linked to that activity and the use of a personal real estate corporation for non-real-estate business. Chu and his company were found to have provided unlicensed rental property management services for eight years between 2012 and 2020, including signing property management agreements covering at least 31 properties across multiple municipalities and carrying out activities such as advertising rentals, preparing tenancy agreements, and collecting rent. They must pay CAD 5,000 in investigative costs and cease offering or providing unlicensed rental property management services. The findings against Liang included conduct unbecoming in 2019 for assisting and/or supporting Chu’s unlicensed activities, and professional misconduct for directing her personal real estate corporation to advance a CAD 500,000 loan to Chu and register a mortgage contrary to regulatory restrictions; she must also pay CAD 5,000 in enforcement expenses and complete the Real Estate Trading Services Remedial Education Course.

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