The Owners Association plays a central role in Dubai's property management and was established by Law No. 27 of 2007. As a legal entity, it represents the interests of all owners of a property complex and is responsible for various important tasks.
Main tasks of the Owners Association:
- Management and maintenance of the common areas
- Determination and collection of service charges
- Commissioning and monitoring of service providers
- Organisation of regular owners' meetings
- Preparation and management of the annual budget
If you have a House or a Buying a flat in Dubaiyou automatically become a member of the associated Owners Association. This entails both rights and obligations. You have a Voting rights in important decisions and can participate in the regular meetings.
The OA is managed by an elected Board of Directors which oversees day-to-day business and makes important decisions. It is supported in this by a professional management company, which is authorised by the RERA must be licensed.
Financial aspects:
Membership of the OA is linked to the payment of service charges. These fees are recalculated annually and must be approved by the RERA. They cover costs such as:
- Maintenance and cleaning
- Security services
- Insurances
- Administrative costs
- Reserves for major repairs
For property investors in Dubai, understanding the Owners Association of great importance, as it has a direct influence on the value retention of the property and the running costs. A well-managed OA contributes significantly to increasing the value and attractiveness of the property investment.
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