British Columbia: The B.C. Financial Services Authority (BCFSA) has taken urgent action against Rent it Furnished Realty, a Vancouver-based rental property firm, by freezing its bank accounts and suspending its license. This affects about 350 properties in B.C.
Here’s what tenants and landlords need to know:
Tenants: You cannot be evicted for not paying rent or deposits if these were paid to Rent it Furnished. Continue paying rent as per your agreement unless your landlord contacts you with new instructions. If you paid Rent it Furnished directly, you don’t need to pay rent again.
Landlords: You cannot evict tenants for non-payment if they paid Rent it Furnished. You won’t have access to money managed by Rent it Furnished and should arrange for new payment methods. Contact tenants immediately to direct future payments to the right place.
For questions, contact the Residential Tenancy Branch or visit their website. The BCFSA’s action aims to protect funds and ensure they are properly managed.