Service charges are billed monthly, notified to residents and collected. Charges and costs are recorded, payroll declarations are prepared, and the statutory ledgers are kept in full.
How transparency actually works
The building’s money sits in a bank account opened in the name of the property itself, not in the management company’s account. Every invoice is entered into the system, and owners can see their own flat’s balance, the payments made and the building’s income and expense statement at any time through NovaBina.
Arrears and enforcement
Under Article 20 of the Condominium Law, an owner who fails to pay on time owes a late payment penalty. Unpaid charges are first pursued with a written notice; if that fails, enforcement proceedings are opened following a decision of the owners’ assembly. The whole process is documented.