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 standard of money to a special account for the maintenance of public parts and facilities in the property area, and authorize the owners' committee to manage and use it in a unified way.
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.
The collection ratio of the maintenance fund shall be paid to the commercial bank designated by the real estate department of the district where the property is located according to the ratio of 2% to 3% of the total house price when the property buyer purchases the house from the developer and handles the property transfer. The specific collection standard of maintenance funds is determined by the local real estate administrative departments according to local conditions. The maintenance fund shall be established under the unified supervision of the real estate management department where the property is located and managed and used by the property management company.