Kelowna-based Rental Property Brokerage No Longer Authorized to Operate Following Urgent Order to Suspend Licence of Managing Broker
BC Financial Services Authority (“BCFSA”) has suspended the licence of Tao (Terry) Guo after an investigation into Menethil Properties Ltd. (“Menethil”) found that Guo had abandoned his duties as managing broker. BCFSA’s investigation continues, and Menethil is not permitted to operate until such a time that a new managing broker is licensed in relation to the brokerage.
Menethil provides rental property management services for approximately 100 properties in Kelowna. Landlord clients of Menethil, and tenants who are renting a home through a Menethil property manager, are encouraged to review BCFSA’s consumer alert on this matter to understand potential impacts to them.
The decision to suspend Guo’s licence was made after BCFSA discovered that Guo, Menethil’s managing broker, had moved overseas and was delegating his managing broker responsibilities to Menethil’s director, Yu (David) Song, who was not licensed to serve as a managing broker.
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