Since October 1, REALTORS® in Ontario have had the opportunity to incorporate with the passing of Bill 145, Trust in Real Estate Services Act, 2020 (TRESA) and can earn an income through a Personal Real Estate Corporation (PREC). With the new rules and regulations in place, some REALTORS® may find they can benefit from a PREC.
When TRESA became law, a number of questions have come up. One such question, “How are my Association dues billed after forming a Personal Real Estate Corporation?” has been frequent.
Some important points to note about PREC billing:
We hope you find this helpful!
If you have any questions, please let us know at communications@omdreb.ca