China's housing maintenance fund system began in 1998, and in 2004, the housing maintenance fund evolved into a fee that must be paid when the house handles the property right certificate. Its payment standard has also changed from the initial "2%-3% of the purchase price" to "5%-8% of the cost per square meter of residential construction and installation projects" in 2008.
According to the newly revised Measures for the Administration of Special Maintenance Funds for Residential Buildings in 2007, public maintenance funds are earmarked for the maintenance of public facilities in residential quarters and are owned by all owners. But before the establishment of the owners' committee, the funds were generally managed by the real estate administrative department.
Over the years, the name of the housing maintenance fund has changed several times. 1998 called housing maintenance fund, and later changed to public maintenance fund for commercial housing. In 2007, according to the order 165 jointly issued by the Ministry of Construction and the Ministry of Finance at that time, it was finally a special maintenance fund for housing.
Calculation of housing maintenance fund:
According to Decree No.2004 of Ministry of Construction and Ministry of Finance. 165 measures for the administration of special maintenance funds for residential buildings;
1. The owners of commercial housing and non-residential housing shall deposit special housing maintenance funds according to the construction area of their own property, and the amount of the first special housing maintenance funds deposited per square meter of construction area is 5% to 8% of the local housing construction and installation project cost per square meter. The competent departments of construction (real estate) of the people's governments of municipalities directly under the central government, cities and counties shall, according to local conditions, reasonably determine and announce the amount of the first-phase residential special maintenance fund deposited per square meter of construction area, and make timely adjustments.
2, the sale of public housing, residential special maintenance funds deposited in accordance with the following provisions:
(1) The owner shall deposit the residential special maintenance fund according to the construction area of the property owned, and the amount of the first residential special maintenance fund deposited per square meter of construction area shall be 2% of the local housing reform cost price.
(two) units selling houses shall, in accordance with the proportion of multi-storey residential buildings and high-rise residential buildings, not less than 20% and 30% respectively, extract special maintenance funds from houses.