B.C. Realtor fined $50K for unlicensed property management

A Vancouver real estate agent has agreed to pay a $50,000 fine to the BC Financial Services Authority (BCFSA) for providing property management services without a licence.

Hsiu-An Annie (Anna) Shen agreed in October 2022 to rent out a property she had helped the client purchase the year prior, according to a consent order issued July 15 by the BCFSA.

The client had reached out to Shen in need of someone to rent out their property, as they planned to move away from Vancouver for an extended period.

Instead of going through her brokerage or finding a licensed property manager, Shen agreed to moonlight as her client’s property manager for one month’s rent ($4,000) and $200 per month.

Shen helped secure new tenants in August 2023.

After the new tenants identified some needed repairs, Shen asked for and accepted $2,000 from the client for the repairs. Despite requests from the client, Shen failed to forward the damage deposit or subsequent rent payments until November 2023.

Shen also handled the money through her personal bank accounts until directing the tenants to pay the client directly for November 2023 and thereafter.

Upset with the arrangement, the client flew back to Vancouver to meet Shen’s brokerage manager at Faith Wilson Realty Group Inc. (dba Faith Wilson Christies International Real Estate), who then reported Shen to BCFSA for providing rental property management without a licence.

The manager also surrendered Shen’s licence to BCFSA for “behaviour unbecoming of a real estate agent.”

Between Nov. 2, 2023, and Jan. 5, 2024, Shen transferred the client three months’ rent ($12,000), the security deposit ($2,000), a handyman fund ($2,000), as well as the client’s travel expenses ($1,800).

If Shen does not pay the fine within three months of the order, she may have her real estate licence suspended or cancelled, according to the consent agreement.

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