What does it mean to collect maintenance funds?

It means that the developer collects the maintenance fund from the buyers instead of the state, and then pays it to the maintenance fund account of the Housing Authority.

Collecting maintenance funds is a maintenance fund account that developers collect maintenance funds from buyers instead of the state and then hand them over to the Housing Authority. This is also the basis for extracting when the house has problems in the later period and needs to be overhauled. In addition, the maintenance fund is also the necessary information for handling the property right certificate.

Nowadays, the property laws of all countries in the world have mandatory provisions on the establishment of property maintenance funds, which has played an important role in establishing a socialized, professional and market-oriented property management system and maintaining social stability.