The Manitoba Securities Commission has decided that new registrants for limited Property Manager Brokers licenses should take a specialized course prior to obtaining a license and have contracted the MREA (Manitoba Real Estate Association) to provide this course.

The course will be a requirement for those companies not currently licensed as brokers and a minimum of one person in each Property Management company will have to obtain a Limited Broker's License.

The Commission will then consider that person to be the Authorized Agent for that company. There will be no requirement for current registrants to take this course or for more than one employee in each company to hold a Limited Broker's license.

This new initiative has been taken for a number of reasons. One of the most important reasons is that there is a movement to create national standards for all professionals due to mobility requirements under national and international trade agreements.

Another important reason is to ensure that licenses are issued only to those companies which demonstrate an understanding and competency in property management.

The Property Management Course is based on a national core curriculum and was developed using materials from other provincial training courses as well as original materials developed in Manitoba.

The course is currently being reviewed by a committee which consists of commercial and residential property managers and other real estate professionals. It will be implemented once approved by the Commission, likely in January 2002.

Members of the PPMA invited to sit on this advisory committee by the MREA include Richard Morantz (Globe General Agencies), Lewis Rosenberg (Apex Realty), Avrom Charach (Kay Four Properties) and Edie Lipson (Akman Management).

The course materials are thorough, covering many aspects of residential and commercial property management, from planning to operations to reporting. It contains review questions at the end of each sub-section and there will be an examination written at the end of the course.

The PPMA welcomes the prospect of improving education which helps ensure a high standard for all professional property managers in Manitoba and are pleased to have been invited to participate in the development of this important course.