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Blog - Lee Bourgeois


  • Residential Measurement Standard – RMS – in Alberta

    Frequently Asked Questions continued:  Can I use the condominium unit’s registered size as the RMS area? No. Use the RMS. The condominium unit’s registered size is not the same as the RMS. The unit’s registered size can include garages, parking spaces, storage areas, and balconies. The RMS area deducts these areas so consumers can make …

  • Tougher Federal Mortgage Regulations

    The new year is upon us, and with it, a whole new real estate reality. Tougher federal mortgage regulations took full effect on Jan. 1, slashing affordability for new borrowers and contributing to slower selling conditions than the record-breaking activity experienced throughout 2017 in Canada’s largest markets. Dubbed Guideline B-20, this latest parcel of policy …

  • Residential Measurement Standard – RMS – 4

    Residential Measurement Standard – RMS – in Alberta Frequently Asked Questions continued: What do I do if the seller tells me the property was represented as larger when they bought it? The seller may have purchased the property under a different measurement standard or guideline which includes areas that are excluded from the RMS. Explain …

  • Residential Measurement Standard – RMS – 3

    Residential Measurement Standard – RMS – in Alberta Frequently Asked Questions continued: Can I use the property size from the municipality if I disclose where I got the information? No. The RMS must be used. Can I use the property size from a previous listing? No. Real estate professionals have an obligation to their clients …

  • Residential Measurement Standard – RMS – 2

    Residential Measurement Standard – RMS – in Alberta Frequently Asked Questions Do Properties Gain or Lose using RMS? Properties stay the same size they have always been. They did not physically shrink or increase in size upon the publication of the RMS. The RMS quantifies the size of the property based on a new measurement …