Community of owners: everything you need to know

A community of owners is a community of people who jointly own a property. This structure is mainly found in residential complexes or neighbourhoods where several owners live in one building or complex. In Dubai, the legal framework for homeowners‘ associations is clearly regulated in order to fulfil the interests of all parties involved.

What is a condominium association?

A condominium association is established to coordinate the management and maintenance of common areas of a property. These include, for example, corridors, gardens, outdoor swimming pools and other shared facilities. Each member contributes proportionally to the costs and responsibilities of the community, which is often set out in the community’s articles of association.

Rights and obligations in a community of owners

• Voting rights: Every member has the right to participate in meetings and make decisions.
• Payment of contributions: Members must pay regular contributions that are used to maintain and manage the common areas.
• Comply with regulations: All members are required to abide by the rules set out in the community’s constitution.

The role of the Owners Association

In Dubai, an Owners Association is important for the management of a community. This association is responsible for adhering to rules, managing the budget and carrying out necessary maintenance work. The Owners Association is elected and consists of members of the community who are in office for a specific period of time.

Common problems in condominium associations

• Communication problems: Misunderstandings between owners can occur if information is not clearly communicated.
• Financial disputes: Problems can arise when a member does not pay their dues or expenses are not transparent.
• Breaches of rules: Owners who disregard the house rules can lead to tensions within the community.

How does the formation of a community of owners work?

A community of owners is usually established after the sale of the first unit in a residential complex. The developer is initially responsible for management until the community of owners is formed. General meetings are held to draw up the articles of association and elect the first board members.

Tips for effectively managing a community of owners

• Regular communication: Keep the owners regularly informed about important decisions and upcoming projects.
• Transparent finances: Provide a clear and accessible financial report to build trust.
• Community activities: Organise events to strengthen the sense of community.

Illustrative example on the topic: Community of owners

Imagine a modern residential complex in Dubai where 50 owners live together. This community of owners is proud of its well-kept surroundings. In order to maintain the common areas such as the pool and gym, all members have to pay monthly fees. At the last meeting, it was decided to renovate the fitness room, which is to be financed from the savings made in recent years. The owners passionately discussed the best designs and equipment – proof of the active exchange in the community. However, some owners expressed concern about the financial implications and requested more detailed information about the planned expenditure. At this moment, it became clear how important communication and transparency are for the success of a community of owners.

Conclusion

A well-managed owners‘ association can significantly improve the living environment for all owners. The key lies in the active participation of the members, transparent communication and a willingness to work together. When all owners pull together, everyone benefits from a harmonious and well-managed living space.

For more information about the Dubai property market or the differences between a buyer’s market and a seller’s market, visit our other articles.