How does Chongqing overhaul fund pay by WeChat?

The newly revised Measures for the Management of Special Property Maintenance Funds in Chongqing (hereinafter referred to as the Measures) will be implemented on May 1 2022.

Deposit with the main construction unit, and pay the first phase of special property maintenance funds in full in advance.

Previous payment methods:

In the past, when buying pre-sold commercial housing, the purchaser directly deposited the first special maintenance fund into the special maintenance fund account when registering the pre-sale contract. However, there are often risks in the process, such as the buyer's non-payment, the change of the owner caused by the resale of the house, and the misappropriation of the developer.

Payment method now:

In order to ensure the standardized deposit of property special maintenance funds and avoid the risk of insufficient deposit, the Administrative Measures require the construction unit to pay the first phase of property special maintenance funds in full on behalf of newly-built commercial housing when signing online for the record. For unsold houses, the construction unit shall deposit the first phase of special property maintenance funds into the special property maintenance fund account before handling the completion acceptance record.

The property special maintenance fund deposited by the owner belongs to the owner.

Before the establishment of the owners' congress, the special maintenance funds deposited by the owners shall be managed by the competent departments of housing and urban and rural construction of the counties (autonomous counties) where the property is located.