NEW LEGISLATION FOR SHORT TERM RENTALS AND REALTORS AS OF DECEMBER 1ST 2020!
Thursday Dec 03rd, 2020
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.