What is a maintenance fund?

Maintenance fund is also called public maintenance fund. The maintenance fund, as a special fund for the shared parts and facilities of the property, shall not be used for other purposes.

The maintenance fund implements the principle of "money goes with the house". When the house is transferred, the remaining funds in the account are also transferred to the new owner of the house.

You don't have to pay the maintenance fund to buy a second-hand house, but you need to pay the maintenance fund to buy a new house.

When buying a new house, the maintenance fund is generally levied at one time, and the standards vary from place to place.

The maintenance fund consists of two parts, one is the housing facilities maintenance fund, and the other is the housing main body maintenance fund.

Therefore, during the warranty period, the developer is responsible for the maintenance of the public pipes passing through his own house, and the maintenance fund is responsible for the maintenance after the warranty period.

The maintenance fund can only be used for overhaul, renewal and transformation of the public parts and public facilities of the property after the warranty period expires, and it must be approved by the owner.

Paying the maintenance fund is the responsibility and obligation of every merchant. Usually, when the new house is delivered, the maintenance fund is paid at the same time, and the funds are directly deposited into the maintenance fund account or paid by the property.

Usually, the maintenance fund is established under the unified supervision of the property management department where the property is located, and is managed and used by the property management company in the park. There will be owners' committees in the park, and the specific use will follow the Committee process, which is beyond the reach of the owners themselves.

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