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Maintenance fund (2%): what it is, why it matters, how to obtain it
What is the 2% maintenance fund in Vietnam?
The maintenance fund (kinh phí bảo trì) is a mandatory one-off contribution equal to 2% of your apartment's pre-VAT sale price, paid at handover into a bank account the developer opens specifically for the building. It is ring-fenced for major common-area repairs — lifts, façade, structure — and is later transferred, with accrued interest, to the owners' elected Management Board.
Maintenance fund at a glance
Document- Vietnamese name
- Kinh phí bảo trì nhà chung cư
- Payment is confirmed by a bank letter — giấy xác nhận nộp kinh phí bảo trì — once credited
- Collected by
- The developer, into a dedicated escrow account at a licensed commercial bank
- Held separately from the developer's own operating accounts, and later handed to the building's Management Board
- When you pay it
- At or just before handover, alongside the final balance of your purchase price
- See our step-by-step buying process for where this sits in the wider timeline
- Typical cost
- Exactly 2% of the sale price before VAT — the only nationally fixed condo fee
- On a €530,000 apartment (Tây Hồ median), that is €10,600 (≈ VND 292 million)
- Validity
- Held in escrow until the Management Board is elected, then transferred with accrued interest
- No expiry date — the fund exists for the life of the building
- Governing law
- 2023 Housing Law and Decree 95/2024/ND-CP
- Sets the national 2% rate and the ring-fenced escrow-account requirement
- Language
- Vietnamese is the only legally binding version
- Developer-supplied English translations of the confirmation letter are for reference only
- Required for
- New-build apartments and houses bought directly from a developer
- Most resale purchases do not trigger a second payment — the fund was already collected at original handover
Specimen: the maintenance fund payment confirmation
How the fund is calculated, paid and verified
⏱ Paid once at handover; verification typically takes a few days
You do not apply for the maintenance fund the way you would a certificate — the developer is legally required to collect it from every buyer at handover. Your task, as the buyer, is to check the calculation, confirm the escrow account, and keep proof once it is paid. None of this requires visiting the bank in person from abroad; a Vietnam-based lawyer or your property manager can verify each step on your behalf.
- 1
Confirm the fund is calculated on the pre-VAT price
⏱ Before final settlement
Check your Sale & Purchase Agreement and final settlement statement state the 2% fund as a percentage of the price before VAT, not the VAT-inclusive figure. Some contracts word the sale price ambiguously, silently pushing your real cost about 12% above the headline number once VAT and the fund are added.
DocumentsSale & Purchase Agreement · Final settlement statement
⚠VAT wrongly folded into the 2% base inflates the fund — verify the calculation line by line before you pay.
→ law firms - 2
Check the dedicated escrow account before you pay
⏱ 1–2 days
Ask for the escrow account details disclosed in your contract — a dedicated, interest-bearing account at a licensed commercial bank, chosen by the developer for this purpose. It should never match the developer's everyday business or sales-collection account.
⚠An account number matching the developer's ordinary operating account, rather than a ring-fenced escrow account, is a warning sign.
- 3
Pay the fund alongside your final balance
⏱ At handover◈ 2% of the pre-VAT sale price; no additional bank fee is typically charged
The 2% contribution is normally collected together with the last instalment of the purchase price, as part of the handover settlement. Keep the transfer receipt referencing both your unit and the fund.
DocumentsFinal settlement statement · Payment transfer receipt
- 4
Request and check the bank confirmation letter
⏱ Same day to about 1 week
Ask the custodian bank — or the developer — for the confirmation letter and check it names all three parties (bank, developer as account holder, you as payer), states an amount matching exactly 2% of your pre-VAT price, and references your specific project and unit number.
DocumentsBank confirmation letter (giấy xác nhận nộp kinh phí bảo trì)
⚠A confirmation letter with no reference to your specific unit cannot be traced back to your apartment if a dispute arises later.
- 5
Track the fund's transfer to the Management Board
⏱ Usually within 12 months of handover, at the first General Meeting
Once owners elect a Management Board (Ban quản trị) at the building's first General Meeting, the developer must hand over the fund — with accrued interest — to the Board's own account. Ask for confirmation of the transferred balance if you were not present.
DocumentsGeneral Meeting minutes
⚠A developer that delays transferring the fund once the Management Board is elected is in breach of its obligations under the Housing Law.
What the maintenance fund actually costs
The fund itself is a fixed 2% of the pre-VAT sale price, set nationally — not a negotiable fee. The rows below separate the fund from the optional buyer-side costs of checking it.
| — | Min | Max | Base |
|---|---|---|---|
| Maintenance fund contributionThe only nationally fixed condo fee — set by the 2023 Housing Law, not open to negotiation | 2% | 2% | % of pre-VAT sale price, one-offBuyer, at or before handover |
| Bank confirmation letterVietnamese banks generally issue this at no charge once the fund is credited | €0 | €0 | includedCustodian bank, on request |
| Independent verification of the confirmation letterConfirms the escrow account, amount and unit reference match your contract | €100 (≈ 2,700,000 VND) | €250 (≈ 6,800,000 VND) | flat fee, one-offBuyer, optional but recommended |
| Certified translation of the confirmation letterThe Vietnamese original remains the legally binding version | €35 (≈ 950,000 VND) | €90 (≈ 2,450,000 VND) | per documentBuyer, if a certified copy is needed for personal records |
Example: €530,000 apartment (Tây Hồ median)
- Maintenance fund (2% of pre-VAT price)
- €10,600 · ≈ VND 292M
- Independent verification of the letter
- €150 · ≈ VND 4.1M
- Certified translation
- €60 · ≈ VND 1.6M
- Σ
- ≈ €10,810 · ≈ VND 297.7M, due at or before handover
2023 Housing Law (in force since 1 January 2025) · Decree 95/2024/ND-CP
Property managers who track sinking-fund health for foreign owners
Savills Property Management (Savills Vietnam Co., Ltd.)
★Conseiller immobilier international: Property & Asset Management (gestion locative et d'actifs), gestion résidentielle et commerciale, location résidentielle, valorisation, conseil en investissement, recherche de marché. Grand bureau à Hanoi (Lotte Center).
Ho Chi Minh City · EN, VN
CBRE Property Management (CBRE Vietnam Co., Ltd.)
★Plus grand conseiller immobilier mondial: Property Management / Asset Services, gestion d'immeubles, conseil, location bureaux/résidentiel, valorisation, project marketing résidentiel. Bureau Hanoi: Capital Place, 29 Lieu Giai.
Ho Chi Minh City · EN, VN
Anabuki NL Housing Service Vietnam
★Gestion et exploitation d'immeubles résidentiels au standard japonais (Anabuki Japon + Nam Long); call center 24/7, technique, financier, courtage.
Ho Chi Minh City · VI, EN, JA
JLL Vietnam (Jones Lang LaSalle)
★Property & facility management, conseil, valuation, leasing; division property management pour actifs premium et institutionnels.
Ho Chi Minh City · EN, VI
Frequently asked questions
Is the maintenance fund the same as the monthly service charge?
No. The maintenance fund is a one-off 2% contribution paid once, at handover, for major structural repairs — lifts, façade, roofing. The monthly service charge is a separate, recurring fee set by the Management Board that covers day-to-day upkeep such as security, cleaning and landscaping.
Who collects the maintenance fund and where is it held?
The developer collects it at handover and deposits it into a dedicated, interest-bearing escrow account at a licensed commercial bank — kept separate from its own operating funds. Once owners elect a Management Board, the developer must transfer the fund, with accrued interest, to the Board's own account.
Is the 2% maintenance fund included in the advertised sale price?
Not necessarily. Some contracts state the sale price ambiguously, so VAT and the 2% fund end up added on top — pushing the real cost around 12% above the headline figure. Always check your Sale & Purchase Agreement states clearly whether the fund is included or additional.
Do I pay the maintenance fund again if I buy a resale apartment?
Generally no — the 2% fund is collected once, from the original buyer at the developer's handover. On a resale purchase, ask instead for the fund's current balance and recent Management Board accounts, since an underfunded fund can lead to a special assessment levied on all owners later.
What if the developer refuses to hand the fund to the Management Board?
This is a breach of the developer's obligations under the 2023 Housing Law. Owners can raise it through the Management Board and, if unresolved, escalate to the local housing authority or a licensed lawyer — this is exactly the kind of dispute our advisory desk can help you route correctly.
What is the maintenance fund actually used for?
It is reserved for major common-area repairs and replacements — lift overhauls, façade and roofing work, structural maintenance — not routine cleaning, security or landscaping, which are funded by the monthly service charge instead.
Sources
- 2023 Housing Law (Luật Nhà ở, Law No. 27/2023/QH15) — sets the national 2% maintenance-fund rate and the ring-fenced escrow-account requirement.
- Decree 95/2024/ND-CP — implementing decree detailing collection, escrow custody and transfer of the maintenance fund to the Management Board.
Verify a maintenance-fund payment before you sign off on handover
Send us your settlement statement and the bank's confirmation letter. Our Hanoi advisory desk checks the calculation and the escrow account within 24 hours — no obligation, and never a substitute for your own lawyer.