What is a property maintenance fund?

Legal analysis: the property maintenance fund refers to the overhaul and renewal reserve fund, which is specially used for the overhaul, renewal and transformation of the parts and facilities of the property after the expiration of the service period.

Legal basis: Measures for the Administration of Residential Special Maintenance Funds

Article 7 The owners of commercial residential and non-residential houses shall deposit special maintenance funds for houses according to the construction area of their own properties, and the amount of the first special maintenance funds for houses deposited per square meter of construction area shall be 5% to 8% of the construction and installation cost of local houses per square meter.

The competent departments of construction (real estate) of the people's governments of municipalities directly under the central government, cities and counties shall, according to local conditions, reasonably determine and announce the amount of the first-phase residential special maintenance fund deposited per square meter of construction area, and make timely adjustments.

Eighth sale of public housing, in accordance with the following provisions of the deposit of residential special maintenance funds:

(1) The owner shall deposit the special maintenance fund for the house according to the construction area of the property he owns, and the amount of the first special maintenance fund for the house per square meter of construction area shall be 2% of the local housing reform cost price.

(two) units selling houses shall, in accordance with the proportion of not less than 20% of multi-storey houses and not less than 30% of high-rise houses, draw a one-time special maintenance fund for houses from the sales funds.

Ninth residential special maintenance funds deposited by the owners belong to the owners.

The residential special maintenance funds extracted from the public housing sales funds belong to the public housing sales units.

Article 10 Before the establishment of the owners' meeting, the residential special maintenance funds deposited by commercial residential owners and non-residential owners shall be managed by the construction (real estate) department of the people's government of the municipality, city or county where the property is located. The competent departments of construction (real estate) of the people's governments of municipalities directly under the central government, cities and counties shall entrust local commercial banks as the special management banks for residential special maintenance funds within their respective administrative areas, and open special accounts for residential special maintenance funds in the special management banks. Open a special account for residential maintenance funds, set up an account based on the property management area, and set up a sub-account according to the house number; If the property management area is not demarcated, an account shall be set up in units of buildings, and a sub-account shall be set up according to the house number.