All penalties imposed on homeowners in Dubai for service charge violations are being waived this year – this is part of a joint initiative between RERA (Real Estate Regulatory Agency) and a grouping owners association (OA) management companies.
These fines relate to “outstanding payments” of service charges for 2019 and this year.
In another move that will go down well with homeowners, services charges can be paid off instalments.
“RERA directs [OA] management companies to review all expenses to cut down service charges,” the joint initiative notes.
“These challenging times require able stewardship such that everyone can collaborate more effectively,” said Saeed Al Fahim, CEO of Stratum Owner Association. “Under Marwan Bin Ghalita, CEO, Rera, has been working to provide relief to both tenants and owners.
“This initiative has a broad canvas in that it is facilitating more lenient payment terms of service charges for owners. It is the coordination between facilities management and OA companies that will ensure charges are brought lower by waiving overdue charges as well as bringing in more leniency towards coordination of annual budgets.”