Free Download
BC Trust Ledger Monthly Checklist
A month-end checklist for BC rental property managers: per-owner trust ledgers, no negative balances, bank and trust liability reconciliations and the managing broker's review within 5 weeks.
PDF19 itemsFor landlords
What's Inside
The first 5 of 19 steps
- Pay money held for an owner promptly into the trust account.RESA s.27.
- Post every receipt and payment to that owner's ledger the same day.Rules ss.80(b), 81(a)(ii).
- Check the owner's balance before paying anything out.No payment may take a ledger below zero, or be made from one already negative (s.73).
- Take immediate steps to fix it.Never "borrow" from another owner's money in the pool.
- Notify the superintendent within 10 days unless it is eliminated in that time, or immediately if it may lead to a compensable loss (s.73).
+14 more items in the full checklist
Get Your Free Copy
Enter your email to download instantly