Increasing urban migration and scarcity of land in the cities has led to a rise in Apartment culture – where rows of independent houses are now replaced by high-rise structures that offer all amenities essential for urban living.
When an apartment is completed and starts getting occupied, there can be many initial issues with the developer. Common problems would include handover issues, maintenance problems or any pending documentation problem. At this time a committed group of individuals has come together to coordinate on behalf of the residents and form an apartment owners association. This association is formed then works as an authoritative body that protects the rights of the apartment owners, maintains the amenities within the apartment complex and works for the welfare of the residents.
But many apartment owners and residents often have resurfaced questions on what exactly is the definition of an Apartment Owners’ Association? How is one formed? What is its purpose, its legal powers, its duties?
Formation of the association is a vital task and apartment owners or residents need to be aware of all the related laws and regulations. The onus lies with the residents to enroll themselves as members of the association or cooperative housing society to safeguard their rights and titles.