What happens if I do not pay my dues on time?
Regular collection of dues is vital to ensure that services in common living areas are not interrupted. So, what legal sanctions does a flat owner face if they do not pay their dues on time?
5% Monthly Delay Penalty
Pursuant to Article 20 of the Condominium Law (KMK), a flat owner who does not pay their full share of common expenses and advances on time is obliged to pay a delay penalty calculated at five percent (5%) per month for the days delayed.
Enforcement Proceedings and Litigation Process
The manager or any of the other flat owners may initiate enforcement proceedings against a flat owner who insists on not paying their dues debt. During the enforcement process, in addition to the principal debt; attorney fees, execution expenses, and delay penalties are also reflected on the debtor.