What is the house maintenance fund for?

Residential maintenance funds include special funds for housing public facilities and housing maintenance funds. The special fund for housing public facilities is referred to as the special fund, which is used for projects such as the renovation of common parts of property and public facilities and equipment, and shall not be used for other purposes. Special funds to implement the principle of "money with the house". When the house is transferred, the remaining funds in the account are also transferred to the new owner of the house.

1. The maintenance fund can only be used when the warranty period expires, the public parts of the property and the * * * facilities and equipment are overhauled, updated and transformed. The specific owners shall share the cost proportion according to the determination standard of voting rights.

2. When the maintenance fund is idle, it shall not be used for other purposes except the purchase of treasury bonds or other funds stipulated by laws and regulations.

3. Special purpose:

(1) The property management company can temporarily borrow the reserve fund equivalent to one month's daily maintenance and renewal cost of the property from the maintenance fund; Unless otherwise agreed in the property management service contract.

(2) If the house needs to be overhauled or specially maintained or updated, the advance payment agreed in the construction contract may be withdrawn, but the advance payment shall not exceed 30% of the total project amount.

(3) The owners' committee may keep a reserve fund equivalent to one month's activity funds in the account of the property management enterprise, unless otherwise decided by the owners' meeting.

Measures for the administration of residential special maintenance funds

Article 18

Residential special maintenance funds shall be earmarked for the maintenance, renovation and transformation of residential parts and facilities after the expiration of the warranty period, and shall not be used for other purposes.