Annual deduction for property service fees

Sulaiman Goldfinch

The owners" association is one of the organizational solutions launched by the Ministry of Municipalities and Housing to regulate condominiums in the Kingdom. It aims to improve the level of services and maintenance, and enhance the quality of life within residential complexes, such as apartments and villas. The association relies on an annual deduction system for service fees, where each owner's contribution is determined according to the percentage of ownership, and these fees are used to cover operational costs, such as maintenance of elevators, cleaning, security, lighting, and common public facilities.

This system promotes transparency. This system promotes transparency and financial discipline, as an annual budget is approved by the General Assembly, and all owners are obliged to pay to ensure the continuity of services. The Ministry also provides an integrated electronic platform for managing the federation, through creating accounts, paying fees, scheduling meetings, and following up on expenses.

In conclusion, the federation reflects the importance of the service fees. In conclusion, the owners" association and the annual deduction system reflect the Kingdom's orientation towards developing an organized and safe housing environment, in line with the objectives of Saudi Vision 2030 in improving the quality of life and organizing the housing sector.

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