Provisions on the announcement of property income and expenditure

Legal analysis: Property management enterprises should announce the annual budget and final accounts of property service funds to the owners' assembly or all owners, and announce the income and expenditure of property service funds at least once a year. When the owners or the owners' congress question the annual budget and final accounts of the property service funds and the income and expenditure of the property service funds, the property management enterprise shall reply in time.

Legal basis: Article 12 of the Price Law of People's Republic of China (PRC) implements the system of charging and remunerating property services. The property service fees received in advance belong to escrow and belong to the paid owners, and the property management enterprise shall not use them for fees other than those stipulated in the property service contract. The property management enterprise shall announce the annual budget and final accounts of the property service funds to the owners' assembly or all owners, and announce the income and expenditure of the property service funds at least once a year. When the owners or the owners' congress question the annual budget and final accounts of the property service funds and the income and expenditure of the property service funds, the property management enterprise shall reply in time.

Thirteenth property service charges take the form of compensation, property management companies or owners' congress can hire professional institutions to audit the annual budget and final accounts of property service funds and the income and expenditure of property service funds in accordance with the provisions of the property service contract.

Fourteenth property management companies should abide by the national price laws and regulations in property services, strictly fulfill the property service contract, and provide the owners with services consistent with quality and price.