Under Article (38), RERA can replace a management company if it is deemed incompetent or unqualified. RERA must first notify the Owners Committee and serve a written warning to the company. The regulator also appoints an audit firm to verify the ser…
Under Article (38), RERA can replace a management company if it is deemed incompetent or unqualified. RERA must first notify the Owners Committee and serve a written warning to the company. The regulator also appoints an audit firm to verify the service charge account. Once the decision is made, the company is granted thirty (30) days to hand over the building to the replacement Management Company appointed by RERA.
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