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October 2017

Found 1 blog entry for October 2017.

What is RMS and why do we have it?

As of October 1/17, new real estate measurement standards have been put in place which will change the advertised square footage of many properties. Over the past several years, there have been numerous court cases relating to the square footage of property and its value.  Cases where a buyer finds out their new house is actually 200 square feet smaller than they thought, for example.  When the courts asked the Real Estate Council to provide their standards of measurement for residential properties, they did not have one.  The courts then mandated they develop a standard and enforce all members of the industry to abide by it. The goal, to create consistent measurement practices across the province that buyers and

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