The maintenance fund (also known as the public maintenance fund, the housing special maintenance fund) is an advance contribution from the owner for the maintenance of shared spaces and facilities in small residential areas, earmarked for the maintenance, upgrading and upgrading of these areas and facilities after the expiry of the warranty period. I'll explain it for you。
What's the maintenance fund
Maintenance funds are funds for which owners of residential properties pay a certain standard amount of money to a special account for the purpose of public areas and shared facilities, maintenance and maintenance of equipment within their property area, and which are authorized to be centrally managed and used by the landlord's board. Ownership is vested in the owners, but individual owners are not allowed to extract all their parts. The maintenance fund exists with the existence of the house, is lost and is not subject to change by the specific owner。
Contributions to the maintenance fund
Payment time:
The owner usually deposits the funds for the first period of specialized maintenance of the dwelling into the household prior to checking in. The option is either to deposit it in its own right or to entrust it to a real estate development enterprise, which is required to deposit it within 30 days of receipt。
Payment criteria:
The rates of contribution to the maintenance fund vary from area to area, type of house (multilayer/top level, availability of elevators), mainly in two ways:
Please note that these are general criteria, and that the specific implementation criteria should be consulted with the local real estate authorities because of the differences in local policies。
Use of the maintenance fund
Scope of use:
The maintenance fund is used primarily for the maintenance, upgrading and adaptation of common property areas and common facilities equipment upon expiry. These include:
Common space: basement of residence, heavy wall, pillars, beams, floors, roofs and outdoor walls, lobby, stairwell, corridor, etc。
Common facility equipment: elevators, antennas, lighting, fire-fighting facilities, greenfields, roads, street lights, ditches, ponds, wells, non-operational garages, facilities for public goods and houses used for shared facility equipment, etc。
Inability to use the maintenance fund includes:
Maintenance during warranty period。
Maintenance should be carried out by specialized departments (e. G., water, electricity, gas, heat, communications, cable television, etc.)。
The costs of repair resulting from human damage (to be borne by the person responsible)。
The cost of daily maintenance and maintenance under the property services contract is borne by the property company。
Problems have arisen in the proprietary part of the owner's household。
Conditions for use:
The use of the maintenance fund usually requires the following:
Funds for specialized maintenance have been fully secured。
The maintenance project is shared area, facilities and equipment, and has passed warranty。
The consent of the owner, who owns more than two thirds of the building and more than two thirds of the building (commonly known as “two-thirds” consent) is required。
Use process:
The general process is as follows, but the concrete steps may vary according to regional regulations:
Application and development of programmes: use advice by property service enterprises, owner boards or relevant owners, and maintenance, updating and rehabilitation programmes (including scope, content, budget, etc.)。
(b) the use of the scheme is subject to a vote by more than two thirds of the owners and is publicized in a small area (usually not less than 5-7 days) for the advice of the owners。
Application for approval: apply to the district real estate authority in the locality for a maintenance fund and report the relevant materials。
Review and inspection: the competent authorities conduct material examination and may organize site surveys。
Organization of construction and acceptance: the applicant organizes the maintenance of the construction unit, which, when completed, is subject to acceptance and inspection by the representative of the owner, the board, the property company and the relevant department, and to the issuance of the receiving and inspection report。
Transfer of funds: request for transfer of funds from the competent authorities after receipt and inspection and completion of the information. The competent authority informs the dedicated management bank to transfer maintenance funds to the maintenance unit。
Emergencies:
In case of sudden emergencies (e. G., leaks in the house, stoppages in elevators, failure of fire facilities, etc.), there is usually an emergency maintenance procedure, which can be followed by a recovery before the application process is completed。
Management of the maintenance fund
The maintenance fund is under the unified supervision of the real estate administration in the property area, usually with an exclusive bank account, which is earmarked and may not be diverted. Upon the establishment of the owners ' committee, the maintenance fund is normally administered by the board. The income and expenditure of the maintenance fund is regularly disclosed and audited, subject to the supervision of the owner and the supervisory branch。
Important reminder
Upon transfer of the house, the balance of the maintenance fund in the account is transferred to the new owner at the same time as the owner of the house and the former owner may not request return。
(b) when the balance of the maintenance fund is less than 30 per cent of the amount due in the initial period, the owner's committee shall notify the owner of the renewal in a timely manner. It will normally be subject to a decision by the general assembly and may be re-shared according to the original or new criteria。
Distinction from property costs: the maintenance funds are used for major repairs, upgrades and alterations, while the property costs cover the daily maintenance and maintenance costs of public spaces and facilities, which are for different purposes。
The maintenance fund is an important system for securing “pension pensions” for housing, with knowledge and better protection of the rights and interests of the community。
