Just two and a half months after Tao (Terry) Guo had his license suspended by the BC Financial Services Authority (BCFSA) for abandoning his duties as Menethil Properties Ltd., the rental property brokerage is now being forced to cease its operations.

This comes after the BCFSA discovered the company was still operating while being unauthorized to do so. When found out, BCFSA issued an Urgent Order to freeze its trust accounts, suspend its brokerage licence and ordered the brokerage鈥檚 director, David Song, to cease providing real estate services.

"All real estate brokerages are required to have a managing broker in place to supervise to brokerage," stated the BCFSA in a release.

Because Guo left his duties, Menethil Properties Ltd. has not been authorized to operate since Feb. 10.

The company provides rental property management services for approximately 100 properties in 琉璃神社, as well as trading services.

"Landlord clients of Menethil, and tenants who are renting a home through a Menethil property manager, are encouraged to review BCFSA鈥檚 consumer alert on this matter to understand potential impacts to them," stated the BCFSA.

As a result of the Urgent Order, there are no immediate impacts to tenancy agreements. Tenants are protected by the Residential Tenancy Act and are advised to continue paying their rent according to the terms of their tenancy agreement.

鈥淲e acknowledge the impact this may have on landlords and tenants who continued to receive property management services from Menethil despite being unauthorized to provide real estate services,鈥� said BCFSA鈥檚 senior vice president, compliance and enforcement Jon Vandall. 鈥淔reezing Menethil鈥檚 trust accounts is an unfortunate but necessary step to protect the funds held in trust on behalf of their clients, and to protect the interests of consumers.鈥�