Maintenance fund, also known as "public maintenance fund" and "residential special maintenance fund", refers to the funds paid by the owners of residential properties to a special account according to certain standards for the maintenance of public parts and facilities in the property area and authorized by property service enterprises or other management units.
Maintenance fund management shall comply with the following provisions:
1. The real estate administrative department shall regularly check the deposit of maintenance funds with special banks and make an announcement in the property.
2. The owners' committee shall regularly announce the use and balance of maintenance funds to all owners.
3. A single owner can check the use and retention of maintenance funds under his own name with the invoice of maintenance funds to the bank. In case of property losses caused by demolition, the owner can withdraw the balance in the sub-account from the bank with relevant certificates.