New rules for owners associations
Law 27 of 2017 provides a new legal framework for all owners’ associations, existing and new, effective from 1 March 2018. The law required detailed resolutions to support implementation. The first resolution, No. 7 of 2018 regulating Owners Associations and Joint Properties, came into effect on 26 September 2018.
Key documents are now available to guide stakeholders
The resolution provides a detailed framework for the creation and operation of owners associations. To help owners associations, members of association boards, owners association managers and unit owners to understand the new laws and how to implement them, RERA has produced the following:
What’s next for Owners’ Associations?
Existing owners associations are required to call a General Assembly and to bring themselves into compliance with the new requirements before 26 March 2019
. The Guide for Owners Associations provides information on how to initiate and conduct meetings and lists key decisions required to be made to comply with the new RERA laws. It provides templates for notices of meeting, meeting agenda, proxy forms. It has a template for the Joint Property By-Law that now needs to be prepared for every owner's association. This may be downloaded and printed or accessed online as required.
Once the owners association has prepared the Joint Property By-Law following the template, an application form must be completed asking RERA to arrange registration of the document in the Special Register of Joint Properties.