I make no secret about my involvement with a leading Ontario vacation rental agency but this blog focuses on all owners regardless of whether they use an agency or advertise privately so I rarely mention this role. However, a recent conversation with a registration official at the Travel Industry Council of Ontario (TICO) reminded me of an issue all owners should be aware of when planning on using the services of an agency in this province.
TICO has the responsibility of administering the Ontario Travel Act 2002 which clearly indicates that any business that rents out vacation homes and/or cottages to consumers, on behalf of cottage owners, and receives monies from consumers to pass onto the cottage owners, falls under the definition of a travel agent within the scope of the Act. TICO are in the process of contacting all rental agencies in Ontario and telling them the following:
Those individuals that sell travel services in the province of Ontario, without registration do so contrary to law and may be subject to penalties as outlined under section 31 of the Act.
Registration with TICO requires agencies to meet a number of requirements such as maintaining minimum working capital, having sound accounting practices including trust accounting, filing annual financial statements and ensuring staff are qualified to provide information to consumers. This is an arduous and costly process which may be the reason why a number of smaller agencies have avoided registration up till now.
The professionally operated rental agencies in Ontario are TICO registered and proudly display the logo on their web sites in accordance with TICO requirements. So, if you are considering using an agency for marketing and managing your cottage rental, look for the logo. If you can’t see it, check the list of registrants on the TICO web site or call them on 1-888-451-TICO
