How to prepare a budget for the Owners Association?

A budget includes operational costs, admin, and reserves. At Impact Estate we are happy to assist and share the templates at no cost.

What are the benefits of having a reserve account?

It ensures long-term sustainability, protects property value, and eliminates the need for unexpected special contributions.  The main benefits of having a reserve account include:

Why do we need a reserve account in the association?

It is a requirement under Real Estate Regulatory Authority Bahrain (RERA) for Owners Associations to maintain two bank accounts: an operational account and a reserve account, ensuring proper financial planning, transparency, and regulatory compliance. A reserve fund is essential to cover long-term, non-recurring expenses—such as lift replacements, major repairs, or capital upgrades—ensuring the property is...

What is discussed in the during annual meeting?

At the AGM, key matters related to the management and performance of the Owners Association are reviewed as per the set agenda, ensuring all owners are fully informed and actively involved in decision-making. The main discussion points typically include: This structured agenda ensures transparency, accountability, and effective governance of the community.

Why does the Owners Association need an annual meeting?

The Annual General Meeting (AGM) is required once a year under Real Estate Regulatory Authority Bahrain (RERA) and serves as a key platform to ensure transparency, accountability, and active owner participation in decisions affecting the property. It allows owners to review, approve, or reject the proposed budget for the coming year, discuss financial and operational...

What are the responsibilities of an Association Manager?

What is the average monthly rate for appointing an Owners Association management company?

Fees vary based on services and the building size. The right management company delivers cost savings through efficiency, preventive maintenance, and financial control. At Impact Estate we are happy to visit your property and provide you with a free quotation.

What are the responsibilities of the Board of Directors?

Who can be on the Board of Directors?

Why do we need by-laws?

It is a requirement of Real Estate Regulatory Authority Bahrain (RERA) for both the registration and ongoing governance of an Owners Association. By-laws also help resolve disputes, maintain order, and protect the rights of all owners and residents.