What does the decoration fund mean?

You will hear about the decoration fund when you hand over the house. What does the decoration fund mean? Today, Bian Xiao will answer your questions one by one.

Decoration fund is the invention maintenance fund, and housing maintenance fund actually includes housing public facilities special fund and housing maintenance fund. 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. The special fund implements the principle that 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.

China's housing maintenance fund system began in 1998. In 2004, the housing maintenance fund evolved into a fee that must be paid for housing property certificate. The payment standard has also changed from 2%-3% of the initial purchase price to 5%-8% of the cost per square meter of residential construction and installation projects in 2008. According to the newly revised Measures for the Administration of Special Maintenance Funds for Residential Buildings in 2007, public maintenance funds are earmarked for the maintenance of public facilities in residential quarters and are owned by all owners. But before the establishment of the owners' committee, the funds were generally managed by the real estate administrative department.