File Photo (Image Credit: CFJC Today)

By James Peters

Property Manager

Kamloops property manager fined nearly $180k for practicing without a license

Apr 26, 2023 | 3:36 PM

KAMLOOPS — The B.C. Financial Services Authority (BCFSA) has issued its largest-ever penalty for offering unlicensed property management services to a Kamloops woman.

In a news release, the BCFSA says Kathy Alaina Bakker must pay a $125,000 fine plus $54,926.26 in expenses for refusing to comply with an order to cease providing the services.

The authority says Bakker managed 10 Kamloops properties between December 2019 and August 2022. During that time, she was informed of the BCFSA investigation but refused to either stop or cooperate with investigators. The Superintendent of Real Estate issued an order for Bakker to stop, but the BCFSA says she intentionally ignored the order.

“BCFSA is sending a clear message that failing to comply with an order and not cooperating with an investigation will not be tolerated,” said BCFSA Director of Investigations Raheel Humayun in the release. “Orders issued by BCFSA are significant, and anyone who does not comply with an order will be prosecuted.”

“Unlicensed persons and their unlawful participation in providing real estate services puts landlords and tenants at risk particularly when it comes to protecting deposits or rent,” continued Humayun. “These risks are elevated in a competitive rental market, where unlicensed rental property managers may engage in unfair practices, and the recourse for impacted tenants is unfortunately limited.”

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Bakker has 30 days to file an appeal.