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Official Gazette

Sunday, June 11, 2023

Management of apartment building maintenance funds clarified

Updated: 14:25’ - 09/09/2019
The Ministry of Construction (MOC) has publicized a draft circular on the Regulation on the management and use of apartment buildings, requiring each apartment building maintenance fund to have three to five account co-holders.

Royal City, one of high-class apartment buildings in Hanoi__Photo: Internet

Among these account co-holders, there would be at least one representative of the apartment owners, one representative of the owner of other areas (commercial or office spaces), one representative of the project owner, and other members of the apartment building management board decided by residents at an apartment building meeting. In order to ensure safety and avoid risks, every change related to a co-holder would be notified to the remaining co-holders. According to the MOC, these regulations would help hinder heads of apartment building management boards from abusing their powers to appropriate apartment building maintenance funds.

Under the draft, the management board of a one-block building would have at least three members. For a building with multiple blocks sharing one foundation, each block would have at least one representative in the management board. Particularly for apartment complexes, each must have a management board of at least six members.

Also provided in the draft, the first meeting of apartment owners must be held within 12 months after the apartment building is put into use and would be considered valid if it is attended by representatives of at least 50 percent of apartment owners who have received their apartments from the project owner. Under current regulations, the required percentage is 75 percent. If failing to organize the meeting as prescribed, within seven days from the first meeting, the project owner or representatives of apartment owners might request the commune-level People’s Committees to re-hold the meeting.

Besides, the MOC also proposes empowering commune-level People’s Committees to recognize apartment building management boards once they are authorized by district-level People’s Committees.- (VLLF)

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