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What is a maintenance fund? Does it have to be paid every year?

The maintenance fund paid before moving in to the commercial housing is collected for the future repair of public facilities in the community. The maintenance fund is paid and withdrawn in accordance with the following regulations: When the construction unit sells commercial housing, buyers of multi-storey housing shall pay 2% of the purchase price.

Buyers of high-rise residential buildings pay a proportion of 3% of the purchase price.

Maintenance fund payments can be made at bank counters designated by the Housing Authority.

Regarding the situation where the developer and the property collect the money on their behalf, the home buyer can choose to pay or refuse, and go to the housing management department to pay the money on their own, and present the relevant payment certificate to the developer.