US EditionA New Era for Site Fees! Each One Will Be Audited Individually.
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A significant step is being taken against the exorbitant increases in maintenance fees that have long been a source of concern for residents of housing complexes and apartment buildings. With the new regulation prepared by the Ministry of Environment, Urbanization and Climate Change, increases in maintenance fees will be limited to the revaluation rate. Here are the details...
The regulation aimed at preventing exorbitant increases in site maintenance fees is nearing completion. According to the proposal, which is expected to be submitted to Parliament, the annual increase will be limited to the revaluation rate.
A new era begins regarding increases in site maintenance fees. Fees can be increased by up to 25.49%, the revaluation rate. Exceeding this rate will require the approval of a 50%+1 majority of homeowners. Furthermore, site management companies will be subject to individual audits, and sanctions will be applied to those found to be engaging in irregularities.
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