The Real Estate Council of Alberta (RECA) has recently received numerous inquiries regarding electronic record storage requirements.
RECA requires that brokerages have a copy of their electronic files in Alberta. A copy of records needs to be kept in Alberta to allow RECA access to them when required. Electronic records can be held on iCloud servers or third party platforms as long as a backup copy is physically located in Alberta.
Industry professionals must make sure they handle electronic records according to the Real Estate Act and Real Estate Act Rules. Section 82 of the Real Estate Act Rules ensures industry professionals maintain the integrity and security of electronic records. Industry professionals should confirm compliance with the Personal Information Protection Act as well.
The following are some of the conditions that must be met when dealing with electronic records:
- do not alter information when you convert paper records to an electronic form
- store records in a secure and accessible physical location in Alberta
- keep all potential and actual trade or deal records together and linked to create a complete record
- keep a copy of the program needed to view and print the electronic record
Real Estate Act requires you to keep records for at least three years after you create them. Only brokers, appraisers, or someone authorized by the broker or appraiser may delete electronic records in compliance with the Real Estate Act.
Learn more about electronic records here.