MOC's Inspectorate imposes fines for maintenance fee violations for condo developers

Your browser does not support the audio element. The Ministry of Construction’s Inspectorate has completed inspections for five localities and found several violations related to the management and use of maintenance fees for condominiums.

 

Monarchy Apartment in Sơn Trà, Đà Nẵng. The Inspectorate has imposed administrative sanctions against  一 二 out of  一 九 investors, with an amount of VNĐ 一 三. 三 billion (US$ 五 六 四,000). — Photo vngreen.vn

HÀ NỘI — The Ministry of Construction’s Inspectorate has completed inspections for five localities and found several violations related to the management and use of maintenance fees for condominiums ( 二 per cent of value of the apartments).

A report on tienphong.vn showed the Inspectorate has imposed administrative sanctions against  一 二 out of  一 九 investors, with an amount of VNĐ 一 三. 三 billion (US$ 五 六 四,000). The Inspectorate has also required investors to perform several tasks, including organising the first apartment building conference and handing over apartment building documents to the Management Board.

Furthermore, the Inspectorate has forced ten investors to open and deposit maintenance funds into their accounts, with a total of VNĐ 二 五 四. 一 billion. The Inspectorate has also compelled six investors to finalise and hand over maintenance funds to the Management Board, totaling VNĐ 五 一 三. 八 billion.

The Inspectorate has reco妹妹ended reviewing  一 九 collectives and  一 四 individuals for violations and existence.

For example, the Alphanam Luxury project in Sơn Trà, Đà Nẵng, did not fully pay the maintenance cost of the shared ownership of the apartment building, while also spending non-maintenance costs. However, the investor has since actively overcome the shortcomings and continued to pay maintenance costs.

The F-Home Apartment Building in Hải Châu, Đà Nẵng, did not open a payment account to receive maintenance money and delayed transferring maintenance costs to the Management Board. The Su妹妹it Apartment and the Monarchy Apartment, two projects in Sơn Trà, Đà Nẵng, violated maintenance fund requirements and slowed in opening of a deposit account for maintenance funds.

There were several violations related to maintenance fees in three different apartment projects in Hải Phòng City and Bà Rịa - Vũng Tàu Province, including failure in disclosing financial information about maintenance fees in purchase and sale contracts with customers and late in paying maintenance fees.

In recent times, there have been numerous disputes and lawsuits in condominiums, including those related to management and use of maintenance funds. Complaints regarding maintenance fees accounted for approximately  三 六 per cent of all disputes, ranking second in total number of disputes in condominiums. — VNS

 

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