What's the use of holding the passbook of the house maintenance fund by yourself?

Residential special maintenance funds are earmarked for the maintenance, renewal and transformation of residential parts, facilities and equipment after the expiration of the warranty period.

When selling commercial housing, the purchaser and the selling unit shall sign the relevant housing maintenance fund payment agreement, and the purchaser shall pay the housing maintenance fund to the selling unit according to the proportion of 2 to 3% of the purchase price. The maintenance fund collected by the selling unit belongs to all owners and is not included in the residential sales income.

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