Office of the Superintendent of Real Estate Serves Order to Cease Providing Real Estate Services to Peter Ho Chiu Chu and 168 Rock Solid Homes Ltd.

VANCOUVER, BC, March 11, 2021 /CNW/ - The Office of the Superintendent of Real Estate (OSRE) has issued an order in urgent circumstances against 168 Rock Solid Homes Ltd. of Vancouver, BC, and its sole director and shareholder, Peter Ho Chiu Chu, to immediately cease providing real estate services.

The order was made on an urgent basis by Superintendent of Real Estate Micheal Noseworthy on Thursday, March 11, after determining evidence supports the conclusion that Mr. Chu and 168 Rock Solid Homes Ltd. are providing unlicensed rental property management services, contrary to the Real Estate Services Act (RESA). Neither Mr. Chu or 168 Rock Solid Homes Ltd. are or have ever been licensed to provide rental property management services.

Following an investigation of alleged non-compliant activity within the definitions of RESA, on May 6 2020, Mr. Chu signed an undertaking on behalf of himself and 168 Rock Solid Homes Ltd., to cease providing real estate services as defined in RESA, unless he holds a valid licence.

Since signing the undertaking, evidence obtained by OSRE including statements made by Mr. Chu supports the conclusion that he continues to provide rental property management services to his clients, including for or in expectation of future remuneration in exchange for his services. Any rental monies collected by Mr. Chu are not held in trust, and tenants and owners may be unaware of the risks to them due to Mr. Chu not being qualified or licensed to provide rental property management services. The Superintendent has therefore determined that it is in the public interest to make the order urgently without a hearing, and has ordered that Mr. Chu:

• cease providing, including offering to provide, directly or indirectly, real estate services, including rental property management services, in British Columbia, effective immediately, including rental property management services provided without a fee but in expectation of future remuneration.

The order remains in force unless and until Mr. Chu and 168 Rock Solid Homes Ltd. become licensed to perform these services under RESA. Mr. Chu, 168 Rock Solid Homes Ltd. or both may require a hearing before the Superintendent or appeal these orders to the Financial Services Tribunal. A copy of the order is available on the OSRE website's RESA enforcement page.

Clients or tenants of Peter Ho Chiu Chu and 168 Rock Solid Homes Ltd. are asked to contact the Office of the Superintendent of Real Estate for further information by phone at 1.855.999.1883 or email at [email protected] 

About OSRE

OSRE is a regulatory agency of the B.C. government that carries out the regulatory, oversight and enforcement duties of the Superintendent of Real Estate. It receives its authority from the Real Estate Services Act, the Real Estate Development Marketing Act and the Strata Property Act.

SOURCE Office of the Superintendent of Real Estate

Warren Mirko, Media Relations Advisor, Real Estate Council of British Columbia (on behalf of OSRE), T: 778.783.4057, Toll-Free: 1.877.683.9664, Email: [email protected]