Community income
Throughout the course of the year, your community generates an income by way of a variety of channels. This helps us to reduce overall costs to you. Here are just a few of the ways in which we do this:
Late Payment Fee
In line with directions from RERA, a Late Payment Fee (LPF) of 1% per month is charged on any amount overdue after the CSF Invoice due date. The LPF is a deterrent for homeowners who delay or default on their CSF payments and also serves to offset any interest payments to be made by the community by borrowing, due to shortage of funds.
Marketing and Distribution Permit Fee
The community is often the target of marketing for many small and medium-sized businesses. To ensure that only legitimate businesses gain access to the community to promote their goods and services, we regulate activity with the provision of a permit that allows the distribution of promotional material. An administration fee of AED 750 per application is collected and booked as income to the community.
Notices of Violation / vandalism penalties
To ensure adherence to Community Rules and Architectural Guidelines, Notices of Violation are issued along with penalties to those who fail to comply. Private contractors are also given Notices of Violation if they breach any Community Rule or carry out activities that contravene their entry permits. Vandalism is a serious offence, and persons who vandalise community property are penalised and reported to the local law enforcement authorities. Funds from such penalties form part of the income to the community.
Miscellaneous income
The Miscellaneous Fund is income generated from other avenues such as interest earned on call accounts, bounced cheque charges and revenue from Community Market Days.