Chinese Media

Beijing to introduce 3rd party for property fees

By Zhang Jiawei (chinadaily.com.cn)
Updated: 2010-07-08 17:06

Beijing issued a rule Thursday requiring the participation of third-party agencies in assessing property management fees, effective Oct 1 this year, the Legal Evening News reported.

The new plan is a great benefit to property owners who have to pay a certain amount of property management fees that are now decided by developers and property management companies only.

Property owners and property management companies can also jointly entrust a third-party agency to assess the management fees when they are in dispute, according to the rule.