STAY AWAY.
Our property used to be managed by Helm. Since we switched half a year ago, more has been done to maintain our property than during the long decade+ Helm managed us.
Our condo board worked with a Certified Fraud Examiner who found questionable practices within their documentation practices. We quickly decided to severe our ties with Helm.
Project management was not included in the monthly fee. Phone calls were not always returned. Accounting practices were questionable and non-standardised. No proactive support for condo owners.
Some of the staff refused to talk to owners who asked to look over documentation.
The company's owner had its license suspended for some time. Here is an excerpt from the RECA decision:
Calgary, Alberta - On June 12, 2012, a Hearing Panel of the Real Estate Council of Alberta (RECA) ordered that Joel Helm's authorization to trade in real estate as a broker or associate broker remain suspended until August 16, 2012. Mr. Helm had been temporarily suspended pursuant to section 53(1)(a) of the Real Estate Act on February 16, 2010 pending the outcome of conduct proceedings under Part 3 of the Real Estate Act.
Mr. Helm was registered as a real estate broker with Helm Property Management & Realty Ltd. at all material times. As part of the Hearing Panel decision, both he personally and Helm Property Management & Realty Ltd. have been ordered to pay fines and costs.
Fines and costs in this matter totaled $78,000, and Mr. Helm has been ordered to complete an educational requirement.
RECA conducted an audit of Helm Property Management & Realty Ltd. for the operating period of January 2009 to February 2010. It revealed significant concerns respecting trust accounts for various properties, non-designation of trust accounts and security deposit trust accounts. There was no action taken by the brokerage or Mr. Helm to correct these deficiencies in a timely manner.
The Hearing Panel found Mr. Helm failed to fulfill his fiduciary obligations owed to his clients in his capacity as a property manager and broker; and, engaged in conduct that undermined public confidence in the industry, harmed the integrity of the industry or brought the industry into disrepute.
The Hearing Panel found that Helm Property Management & Realty Ltd. made payments and allowed bank transfers out of accounts in which money was held in trust therefore creating negative balances in those accounts; failed to notify the Executive Director in writing of the existence of a trust shortage; failed to open and maintain at least one trust or pooled trust account for the deposit of funds received on behalf of clients or owners of real estate managed under real estate management agreements; and, allowed bank transfers from monies held in trust that did not hold a sufficient credit balance. read more