The Real Estate Regulatory Authority under the Dubai Land Department introduced the Strata Law and the formation of Owner’s Associations recently. Such a move was introduced for adequate risk management of the property. Owner’s Associations and Owner’s Association Management Companies were instituted with regulatory requirements to be fulfilled on a term-basis such as mandatory building inspections, reserve fund studies and more in order to obtain service charge budget approval. Organisations such as Star Property Inspection add immense value to this process by providing independent, detailed reports that assess and reduce liability, help negotiate with developers, contractors, facilities management companies and other parties.
