B.C. regulator issues alert about alleged unlicensed property manager

A view of downtown Victoria. (Handout)

B.C.’s real estate industry regulator is asking property owners in and around the province’s capital for assistance in an ongoing investigation into alleged unlicensed activity by a local woman and her company.

Radoslava Stoycheva and her company Victoria Royal Vacations Inc. have made an undertaking to the B.C. Financial Services Authority to immediately cease all unlicensed real estate activity, the regulator said in a consumer alert issued Tuesday.

“Rental property owners who have used Stoycheva’s or VRV’s services, or who have been approached by either, can contact BCFSA and share information of your interactions,” the alert reads, directing those with information to email [e-mail] or use the complaints portal on the regulator’s website.

The alert does not elaborate on the type of real estate services Stoycheva and VRV were allegedly providing, though it does advise rental property owners who are using or considering hiring a rental property manager to verify that the person in question holds a BCFSA licence.

If Stoycheva breaches her undertaking, she could personally face administrative penalties of up to $100,000 and fines of up to $250,000. Her company could be fined up to $500,000.

“BCFSA seeks the assistance of the public to understand the scope of activity that may have taken place prior to BCFSA accepting this undertaking from Radoslava Stoycheva and her company,” the alert reads.

Stoycheva is the sole director of VRV, according to the BCFSA.

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