Limits on maintenance fee hikes are coming: The decision rests with property owners!
A new regulation regarding increases in residential complex maintenance fees is coming to Parliament this week. According to the proposal, the hike rate will be subject to the approval of property owners, and an upper limit will be set based on the revaluation rate.
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Following complaints regarding high increases in residential complex and apartment maintenance fees, a regulation prepared in response will be addressed in the General Assembly of the Grand National Assembly of Türkiye this week.
With the legislative amendment, a new procedure is being introduced for determining maintenance fee increases. Accordingly, budgets and maintenance fee hike proposals prepared by site management will be submitted for the approval of property owners.
For the proposal to be accepted, the approval of a two-thirds majority of property owners will be required. If this majority cannot be achieved, the site management will be obligated to prepare a new budget within three months at the latest.
The temporary increase rate to be applied during this period will not be able to exceed the revaluation rate. Thus, an upper limit for maintenance fee increases will be established even in cases where a consensus cannot be reached at the general assembly.
According to a report by NTV, Ali Güvenç Kiraz, who evaluated the matter, stated that under current practice, site management can make direct increases by citing market conditions. He expressed that with the new regulation, the final decision on maintenance fee increases will be left to the property owners.