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What's overhaul fund for?
Overhaul fund is a special fund for repairing, maintaining and updating buildings, facilities or equipment. It is usually accumulated by the owners or property management agencies in the long-term operation and maintenance process. Overhaul fund aims to ensure that buildings or facilities can be kept in good condition, extend their service life, and provide financial support for future maintenance and renewal. The main uses of overhaul fund include but are not limited to the following aspects: 1. Maintenance and repair: overhaul fund is used for routine maintenance and repair of buildings or facilities, such as water leakage repair, circuit fault repair and wall painting. This helps to ensure the normal operation of buildings or facilities and solve minor faults that may lead to bigger problems in time. 2. Equipment renewal: Over time, some equipment in buildings or facilities may age or become unsuitable. Overhaul fund can be used to purchase new equipment or update old equipment to maintain the function and efficiency of buildings or facilities. 3. Structural improvement: Sometimes, the structure of a building may need to be improved or upgraded to meet new safety standards or meet different use requirements. Overhaul fund can be used for structural transformation, such as strengthening buildings, improving stairs and upgrading elevators. 4. Large-scale maintenance and renovation: Regular large-scale maintenance and renovation works help to maintain the quality and appearance of buildings or facilities. Overhaul fund can be used for comprehensive renovation of external walls, roof replacement and pipeline renewal to ensure the long-term sustainability of buildings or facilities. To sum up, overhaul fund is a special fund to maintain the good condition of buildings or facilities, extend their service life, and provide financial support for maintenance and renewal. By regularly accumulating and rationally utilizing these funds, we can ensure that buildings or facilities can continue to operate and adapt to changing needs and standards.