Saturday 7 December 2019
 
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Rera to help create Bahrain property owners' associations

MANAMA, 20 days ago

Bahrain's Real Estate Regulatory Authority (Rera) has announced that it will hold a series of seminars over the coming weeks to assist owners of properties in buildings/developments with shared or common areas on the steps to be taken to create an owners association and how best to ensure that such associations are operated on an efficient and compliant basis.  

The seminars will be held from 5 to 6.30 pm at the following venues across Bahrain:

•Bapco Club, Awali Hall - November 25

•Bahrain Chamber of Commerce auditorium, Sanabis - November 27

•Bipex Property event - December 8 and 9 at the Bahrain International Exhibition Centre.

Owners' associations are now a legal requirement in Bahrain, reported BNA, citing a senior official.

"Rera is keen to ensure that all owners of properties with shared or common areas are fully aware of the importance of becoming involved in the owners association for their property," remarked its CEO Shaikh Mohammed bin Khalifa Al Khalifa.

"It is in the owners’ long-term interest to protect their investment by having a say in the creation of the association, election of board of directors, setting of service charges and how the property is managed. Owners also need to be aware of other obligations such as ensuring there is adequate insurance cover on the building or development," he added.




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