Article (30) limits the use of funds in the Service Charges account to specific purposes, such as cleaning services, security, and insurance premiums. They can also be used for the repair and improvement of Common Parts and to pay Management Company…
Article (30) limits the use of funds in the Service Charges account to specific purposes, such as cleaning services, security, and insurance premiums. They can also be used for the repair and improvement of Common Parts and to pay Management Company fees as determined by RERA. Additionally, a portion must be used to create a cash reserve for emergency expenses. These restrictions ensure that every Dirham paid by owners is invested back into the sustainability of the building.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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