What is the fine imposed on the apartment building investor selling or leasing motor vehicle parking lots in that apartment building in a manner not conforming to Vietnamese regulations and law?
Will the apartment building investor failing to prepare annual maintenance plans in Vietnam face fines?
Pursuant to Clause 1, Article 67 of Decree 16/2022/ND-CP, the provision is as follows:
Violation of regulation management and use of apartment buildings of project developers
1. A fine ranging from VND 80.000.000 to VND 100.000.000 shall be imposed on:
a) Operating dance bars;
b) Failing to open accounts for maintenance expenditure of common areas in apartment buildings in a manner conforming to regulations and law;
c) Fail to promptly request Chairpersons of People’s Committees of communes in writing to organize apartment building meeting when the first apartment building meeting did not have enough participants as per the law;
d) Failing to adequately inform Departments of Construction where projects take place in writing about name accounts, number of accounts, credit institutions where the accounts are opened, and term of maintenance expenditure deposit;
dd) Failing to produce annual maintenance plans conforming to regulations and law;
e) Failing to inform Departments of Construction where apartment buildings are located in order to monitor after maintenance expenditure has been transferred to the elected Board of directors.
The apartment building investor failing to prepare an annual maintenance plan or preparing an annual maintenance plan that is not conformable will face an administrative fine ranging from 80,000,000 VND to 100,000,000 VND.
What is the fine imposed on the apartment building investor selling or leasing motor vehicle parking lots in that apartment building in a manner not conforming to Vietnamese regulations and law?
What is the fine imposed on the apartment building investor selling or leasing motor vehicle parking lots in that apartment building in a manner not conforming to Vietnamese regulations and law?
Under Clause 2, Article 67 of Decree 16/2022/ND-CP, the provision is as follows:
Violation of regulation management and use of apartment buildings of project developers
...
2. A fine ranging from VND 160.000.000 to VND 200.000.000 shall be imposed on:
e) Miscalculating maintenance expenditure of common areas of apartment buildings;
b) Failing to specify accounts for maintenance expenditure of common areas of apartment buildings in the contracts for sale, lease purchase of houses or other areas of apartment buildings;
c) Failing to make term deposit of maintenance expenditure for common areas of apartment buildings at local credit institutions where sold, purchased, or lease purchased houses are located;
d) Failing to close accounts for maintenance expenditure after transferring all maintenance expenditure to the elected Board of directors of apartment buildings;
d) Failing to publicize and disclose the use of operation expenditure, maintenance expenditure for common areas of apartment buildings;
e) Failing to transfer maintenance expenditure and interest thereof for common areas of apartment buildings in a timely, adequate manner to the right beneficiaries;
g) Choosing ineligible or incompetent entities to manage and operate apartment buildings;
h) Selling or leasing motor vehicle parking lots in apartment buildings in a manner not conforming to regulations and law.
The apartment building investor selling or leasing motor vehicle parking lots in that apartment building in a manner not conforming to Vietnamese regulations and law will face an administrative fine ranging from 160,000,000 VND to 200,000,000 VND.
Will the apartment building investor failing to reserve an area to use as a community house in Vietnam be fined?
Under Clause 3, Article 67 of Decree 16/2022/ND-CP, the provision is as follows:
Violation of regulation management and use of apartment buildings of project developers
...
3. A fine ranging from VND 200.000.000 to VND 260.000.000 shall be imposed on project developers who:
a) Fail to reserve area to use as community houses in accordance with standards and regulations;
b) Manage and use maintenance expenditure in a manner not conforming to regulations;
c) Fail to organize first-time apartment building meeting;
d) Fail to produce settlement record of maintenance expenditure.
The apartment building investor failing to reserve an area to use as a community house according to standards and regulations in Vietnam will face an administrative fine ranging from 200,000,000 VND to 260,000,000 VND.
Will the apartment building investor illegally using the maintenance expenditure in Vietnam be fined up to 260,000,000 VND?
Under Clause 4, Article 67 of Decree 16/2022/ND-CP, the provision is as follows:
Violation of regulation management and use of apartment buildings of project developers
...
4. A fine ranging from VND 260.000.000 to VND 300.000.000 shall be imposed on:
a) Repurposing common areas or repurposing non-residential areas in apartment buildings that serve mixed purposes;
b) Adopting incorrect calculations for flat area or areas in apartment buildings other than common areas;
c) Failing to make adequate deposit to accounts for maintenance expenditure of common areas for flat area and other areas reserved by the project developers without being sold or lease purchased by the time the apartment buildings are transferred and brought into use;
d) Failing to transfer apartment building dossiers in an adequate or timely manner to the elected Boards of directors;
dd) Failing to use maintenance expenditure.
Thus, the apartment building investor illegally using the maintenance expenditure in Vietnam will face an administrative fine ranging from 260,000,000 VND to 300,000,000 VND.
Note: The above administrative fines are only applicable to organizations. In cases where individuals violate, the administrative fines will be half of that for organizations.
Additionally, based on the violations of regulations on the management and use of apartment buildings by investors, corrective measures will be determined according to Clause 5, Article 67 of Decree 16/2022/ND-CP.
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