Homeowners can directly influence daily operations in their buildings or communities. Make sure your property is well managed and maintained to get the most out of your real estate investment.
Most investors and homeowners still don’t pay enough attention on why they actually need an OA (Owners’ Association) and some aren’t even aware there are such associations in Dubai. So what’s an OA and do you really in need of it?
The Jointly Owned Property Law, popularly known as the Strata Law regulates the establishment of an OA.
OA is a non-profit establishment and a separate legal entity comprising all the owners of the units in a jointly owned property. The OA is created for the purposes of management, monitoring and maintenance of common areas within the jointly owned property and each unit owner is a member of the OA. All individual owners in a building or community automatically become members of the OA.
This means, as soon as you buy a flat or a house in a building or community, you become a part of the OA. And this also means you need to pay annual service charge for the maintenance and upkeep of the common areas.
OAs usually manage such matters like maintenance and upkeep, security, facility and property management, as well as strategic financial management. You may ask what finances have to do with the OAs? But properties need considerable financial commitment to maintain and improve over their ageing life cycle, and OAs count and gather money necessary for these purposes.
The OA is usually governed by a board of elected volunteer unit owners.
So, are OAs meeting expectations?
There are a lot of questions arising about property owners’ expectations being met by OAs, from disputes around service charges, to the quality of maintenance and upkeep.
Indeed, upskilling the OA is becoming a pressing need in order for them to deliver quality services. Companies like Deyaar and Emaar Properties are now tending to put highly skilled company’s professionals to head QAs in their developments, recognizing the need to meet rising customers’ expectations.
Property management evolution means customer expectations from OAs are evolving too, going beyond pure building maintenance to sustainability and efficiency management, smarter building management systems for health and safety, lighting, fire etc.
To sum up, there no choice whether to be a member of QA or not, you automatically enter it when buying a property in a building or community. But you still have a right to choose services they provide. To enjoy seamless property management you can also choose our
IMEX Real Estate is always here for you to solve many of your problems, including property purchase and its further maintenance. Trust the professionals!
And don’t hesitate to contact us on any issue regarding real estate in Dubai:
Tel.: +7 903 232 80 80 Oleg Lavrik (Whatsapp, Viber, Telegram)
Tel. UAE: +971 (50) 2528188
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IMEX REAL ESTATE BROKER LLC, UAE
Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE
Email: pm@IMEXre.com
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