What if the housing maintenance fund is used up by the development unit or the property management company?

1. Special maintenance funds are managed by the fund center set up by the government. The property company may apply for the use of the funds collected and remitted by the development unit during the period of selling houses after consideration by the owners' meeting. But neither the development unit nor the property management company has the right to manage the special fund.

2. According to the relevant provisions in the Measures for the Administration of Residential Special Maintenance Funds:

If the balance of the special maintenance fund of the owner's household residence is less than 30% of the initial deposit, it shall be renewed in time.

If the owners' meeting is established, the renewal plan shall be decided by the owners' meeting.

If the owners' meeting is not established, the specific management measures for renewal shall be formulated by the construction (real estate) department of the people's government of the municipality directly under the central government, the city and the county jointly with the finance department at the same level.