Annual Service Charges are collected to cover the expenses of the management, operations, maintenance, insurance and repair of common areas of the Jointly Owned Property. Annual Service Charges are based on the annual budget prepared by the Management, reviewed by RERA approved Auditors and finally approved by RERA.
Dubai Land Department has introduced the “Mollak” System, which will be regulating the payment of service fees and assisting Real Estate stakeholders and Management companies to comply with RERA registration and management requirements.
The community management company will be uploading all the budget-related documents through the “MOLLAK” system. Once the same has been approved by RERA, unit owners will receive the service fee invoices directly from “MOLLAK” and make the payments as well through the system.
All amounts related to the service charge allowances and usage allowances will be deposited in the Escrow Account of the Jointly Owned Property approved by RERA.