Vietnam 2% Maintenance Fund: Who Holds It, What It Pays For

Short answer. The maintenance fund (kinh phí bảo trì) is 2% of the apartment's value, paid once by the buyer, with the developer paying 2% on area it retains. Before handover it sits in a dedicated account opened by the developer; once the Ban quản trị is recognised, the board holds it. It may be spent only on maintaining or replacing common-ownership items under a maintenance plan the building conference approved, never on operation, and every spend needs invoices, vouchers and a report to the conference. Sources: arts. 152 to 155 of Housing Law No. 27/2023/QH15, in force since 1 August 2024. The Law's term is "kinh phí bảo trì"; in everyday talk it is called "quỹ bảo trì 2%".

Who pays and how much

• Buyer or hire-purchaser: 2% of the value of the apartment or other area, stated separately from the purchase price and written into the contract (art. 152(1)).
• Developer: 2% on apartments and areas it retains unsold at handover into use, valued at the highest apartment sale price in that building at handover (art. 152(2)).
• Older contracts: where a contract was signed before 1 July 2006 and nothing was collected, the owners hold a conference to agree a contribution, paid monthly into the board's account or when maintenance work arises. Where a contract signed from 1 July 2006 until the Law took effect has no maintenance-fund clause, the developer pays (art. 152(3)-(4)).

This is a one-off amount on the apartment's value. It is not a monthly charge and not part of the operating fee.

Where the money sits before handover

Before signing the first sale or hire-purchase contract the developer must open a payment account at a credit institution or foreign bank branch in the locality where the building stands, and notify the provincial housing authority in writing within 5 working days of opening it. The developer may not instruct the bank to draw on it for any other purpose before handover to the board. The account details go into the contract; the buyer must pay before taking over the apartment, and if the developer hands over anyway, the developer owes that 2% itself (art. 153(1)).

Handover to the board

1. Once the board is recognised, it opens an account at a credit institution and sends a written request to the developer.
2. Within 30 days of the request, the developer and the board must agree the reconciled figures.
3. The developer asks the bank to transfer the fund and its accrued interest to the board's account; transfer costs are deducted from the fund.
4. The developer closes the old account and notifies the provincial housing authority in writing.

Income from exploiting common-ownership parts (for example rooftop antennas or advertising) must be paid into the maintenance-fund account and, with the interest, used for maintenance (art. 153(2), (4)).

If the developer does not hand it over

The board writes to the competent People's Committee asking it to require handover. The Committee has 15 days from receiving the letter to issue a demand; if the developer still has not handed over 10 days later, the Committee must issue a coercive decision and recover the money for the board. Where it finds indications of a criminal offence, it refers the file with its evidence to the investigating authority (art. 154). This guide gives no penalty amounts, because we have not checked the penalty decree currently in force.

What it may and may not pay for

• May: maintaining or replacing common-ownership items and equipment under a maintenance plan approved by the building conference (art. 155(1)). The conference also approves the plan and the yearly maintenance-fund account (art. 145(3)(đ); Regulation art. 17(1)(b)).
• May not: the board may not use the fund for operating the building or any other purpose (art. 155(1)). The operating unit is not mentioned in arts. 153 and 155: a management company does not hold, control or spend this fund.
• Paperwork: every spend needs invoices and vouchers and must be reported to the building conference (art. 155(2)).
• When it runs out: owners contribute when maintenance is carried out under the approved plan or when something needs unplanned maintenance (art. 155(3)).
• Buildings without a mandatory board: owners and users agree on a representative to manage the account (art. 155(6)).

Maintenance fund ledger (structure)

This is a suggestion so the board has figures ready for the annual conference; the law prescribes no form.

SỔ THEO DÕI KINH PHÍ BẢO TRÌ (Maintenance fund ledger) - [building] - year [...]
Account: [bank, number]   Opening balance: [...] VND

A. RECEIPTS
   Date | Source (handover from developer / top-up / common-area income / interest) | Amount | Voucher
B. SPENDING
   Date | Common-ownership item | Line in the approved maintenance plan | Amount | Invoice / voucher no.
C. CLOSING
   Total in: [...]   Total out: [...]   Closing balance: [...]
   Reported to the conference on: [...]

Each spending line should point to a line in the plan the conference approved and carry an invoice or voucher. Do not post operating costs in this ledger.

What Unitify does

• Record and report. Unitify can record the maintenance fund, keep the invoice and voucher trail and report on it for the board. Unitify does not hold the money and does not spend the fund.
• Separate charges. The operating fee per m², parking, domestic water, board remuneration and fire and explosion insurance are billed as separate lines; the maintenance fund is not folded into the monthly charge.
• Payment. Residents pay on their own, by bank transfer or VietQR from their own banking app, or through licensed payment intermediaries they already use such as MoMo, ZaloPay or VNPAY. These are not Unitify integrations.
• Announcements and surveys to residents before the conference. See the building conference: convening, voting, minutes.

See Unitify in Vietnam, billing and invoices and Ban quản trị: who elects it, term and duties.

Book a demo to see how Unitify keeps the invoice and voucher trail for a board.