NEW LEGISLATION FOR SHORT TERM RENTALS AND REALTORS AS OF DECEMBER 1ST 2020!

Thursday Dec 03rd, 2020

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The exemption, which comes into effect December 1, 2020, reflects the way TICO and RECO had been applying the legislation as it relates exclusively to short-term accommodation rentals.
 
RECO registrants are permitted to trade in short-term accommodation rental properties on behalf of the brokerage that employs the broker or salesperson.
 
  • The exemption applies only to trades in short-term accommodation rental properties that are made through the registered brokerage.
  • If a registered broker or salesperson trades in short-term accommodation rentals as a side business that is not accounted for and/or otherwise captured by the registered brokerage, he/she would not qualify for the exemption and would need to register under TIA.

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