Question

Which of the following management activities require an authorization from RECA:

a-Holding funds on behalf of the condominium corporation
b-Negotiating a lease agreement on behalf of a unit owner
c-Depositing the condominium corporation's money into an account held by the condominium manager
d-Selecting appropriate tenants for a unit -Advertising that a unit is available for rent

Answer 1

RECA authorization is required for holding funds on behalf of a condominium corporation, negotiating a lease agreement on behalf of a unit owner, and depositing the condominium corporation's money into an account held by the condominium manager.

Step-by-step explanation:

The Real Estate Council of Alberta (RECA) is the autonomous governing authority that sets and enforces standards for the real estate industry in Alberta, including real estate brokers, mortgage brokers, property managers, and real estate appraisers. Among the management activities you've listed, the following require authorization from RECA:

• Holding funds on behalf of the condominium corporation
• Negotiating a lease agreement on behalf of a unit owner
• Depositing the condominium corporation's money into an account held by the condominium manager

In contrast, selecting appropriate tenants for a unit and advertising that a unit is available for rent are typically managerial tasks that do not inherently require RECA authorization, but they must be performed in accordance with any applicable laws and regulations.