What specific expenses can be paid using service charge funds?

Funds in a Service Charges account may only be used for ten specific legal purposes. These include paying for cleaning services, security, and safety within the property. They also cover the operation, repair, and improvement of Common Parts, as wel…

The full explanation

Funds in a Service Charges account may only be used for ten specific legal purposes. These include paying for cleaning services, security, and safety within the property. They also cover the operation, repair, and improvement of Common Parts, as well as building insurance premiums. Furthermore, the account funds management company fees, auditing costs, and the administrative expenses of developers in major projects as approved by RERA. Any use of funds outside these categories is considered a violation of the law.

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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