Maintenance fund, also known as "public maintenance fund" and "special maintenance fund", refers to the fund that the owners of residential properties pay a certain amount of money to a special account for the maintenance of public facilities and equipment in the property area, and authorize the owners' committee to manage and use it uniformly. The maintenance fund is raised by the owners of the property, who enjoy the ownership of the maintenance fund according to the proportion of payment, but the right to use it belongs to all owners, and individual owners may not withdraw all their own maintenance funds from the bank. The maintenance fund is combined with a specific house, exists with the existence of the house, and is also lost with the existence of the house, and does not change because of the change of the specific owner. When the house property right is changed to a new owner, the maintenance fund should also be renamed from the old owner to the new owner.

Conditions of use

1. The maintenance fund can only be used when the warranty period expires, the public parts of the property and the * * * facilities and equipment are overhauled, updated and transformed. The specific owners shall share the cost proportion according to the determination standard of voting rights.

2. When the maintenance fund is idle, it shall not be used for other purposes except the purchase of treasury bonds or other funds stipulated by laws and regulations.

3. Special purpose

(1) The property management company can temporarily borrow the reserve fund equivalent to one month's daily maintenance and renewal cost of the property from the maintenance fund; Unless otherwise agreed in the property management service contract.

(2) If the house needs to be overhauled or specially maintained or updated, the advance payment agreed in the construction contract may be withdrawn, but the advance payment shall not exceed 30% of the total project amount.

(3) The owners' committee may keep a reserve fund equivalent to one month's activity funds in the account of the property management enterprise, unless otherwise decided by the owners' meeting.

According to the Measures for the Administration of Residential Special Maintenance Funds, which came into effect on February 1 2008, public maintenance funds are paid by all owners and owned by all owners. Under normal circumstances, the maintenance fund is established under the unified supervision of the real estate management department where the property is located and managed by the property management company. After the establishment of the owners' committee, the public maintenance fund will be handed over to the industry committee, which will exercise the management right.

The owners' committee shall set up a special account for the property maintenance fund in the commercial bank designated by the real estate administrative department, and report the account to the real estate administrative department for the record. The account is all the maintenance funds paid by the owners in the property. This account can only be used for the storage and management of the maintenance fund and shall not be used for other purposes. At the same time, the bank set up a sub-account for each owner to show the use and retention of all maintenance funds of the owner. The use and supplement of the maintenance fund shall be decided by the owners' meeting.

Maintenance fund management shall comply with the following provisions:

1. The real estate administrative department shall regularly inquire about the deposit of the maintenance fund from the special bank and publish it in the property.

2. The real estate administrative department shall regularly report the deposit of the maintenance fund to the higher real estate administrative department.

3. The owners' committee shall regularly announce the use and balance of the maintenance fund to all owners.

4. A single owner can check the use and retention of the maintenance fund under his name with the invoice of the maintenance fund. In case of property losses caused by demolition, the owner can withdraw the balance in the sub-account from the bank with relevant certificates.