The Ministry of Construction released a draft circular which requires real estate developers to open a separate payment account for the 2% maintenance fee. The owner accordingly will have to agree immediately in the contract with the apartment buyer on a fixed account to collect the 2% maintenance fund.

VTV has had a report on the feasibility of this draft circular. Accordingly, VTV conducted an interview with lawyer Pham Duy Khuong, Managing director of the real estate Vietnam Law Firm ASL LAW . Lawyer Pham Duy Khuong analyzed the current situation of 2% maintenance fund collection issue, the reason why the investor refused to hand over the 2% maintenance fund to the management board. The sanction is not strong enough compared to the benefits that the investor can achieve if deliberately keeping the maintenance fund.

Lawyer Pham Duy Khuong assessed that in addition to providing a payment account with specific disbursement conditions, it is necessary to have a strong enough sanction to deter investors if violating. For example, it is prohibited for an investor to deploy a similar project in the future.

Below are some pictures of the interview.

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VTV Clip

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