Now Dubai homeowners can have relief on the service charges for this year

Due to the recent situation and the COVID-19 effects, UAE is working at its best to help its citizen at the time of this crisis. The new announcement has provided tenants and owners with relief at this time of the epidemic, where everything is at the stake of going down.

Homeowners in Dubai can be exempted for all the penalties imposed including the service charges violations this year. This announcement is made as a joint initiative between RERA (Real Estate Regulatory Agency) and grouping owners association (OA) management companies.

These fines include the outstanding payments of service charge for 2019 and this year. While the RERA directed (OA) management companies to review all the expenses to cut down service charges.

“These challenging times require able stewardship such that everyone can collaborate more effectively,” said Saeed Al Fahim, CEO of Stratum Owner Association. “Under Marwan Bin Ghalita, CEO, Rera, has been working to provide relief to both tenants and owners.

“This initiative provides extensive canvas in that it is facilitating more lenient payment terms of service charges for owners. While the coordination between the facilities management and OA companies will ensure about the charges are brought lower by waiving overdue charges and leniency towards coordination of annual budgets.”

Little glimpse on RERA - Real Estate Regulatory Agency (RERA), a regulatory arm of the Dubai Land Department that sets policies and makes the plan for Dubai's property sector for the growth of the foreign investment. It has administrative independence that enjoys the own financial system and secures full legal authority to regulate Dubai's realty. While it offers a transparent and effective legal framework for everyone in the real estate sector of Dubai.