Regulations on consulting services and real estate management services according to Vietnamese law

Conditions for an organization to establish a real estate transaction consulting office? What are the regulations on real estate consulting services?

1. Real estate consulting services according to the law

Pursuant to Article 74 of the Law on Real Estate Business 2014, which regulates real estate consulting services:

– Organizations and individuals doing business in real estate consulting services must establish an enterprise.

– Contents of real estate consulting services business include: including:

+ Consulting on real estate law;

+ Consulting on investment in creating and trading real estate;

+ Consulting on real estate finance;

+ Consulting on real estate prices;

+ Consulting on purchase, sale and transfer contracts, rent, lease purchase of real estate.

– Content, scope of consulting, rights and obligations of the parties, real estate consulting service fees are agreed upon by the parties in the contract.

– Enterprises providing real estate consulting services are responsible for implementing commitments in the contract and compensating for damages caused by their errors.

2. What are real estate management services like?

Pursuant to Article 75 of the Law on Real Estate Business 2014 stipulates on real estate management services as follows:

– Organizations and individuals doing business in real estate management services must establish an enterprise. In case of providing management services for apartment buildings or mixed-use buildings for residential purposes, the conditions must be met according to the provisions of housing law.

– Contents of real estate management service business include:

+ Selling, transferring, leasing, subleasing, and leasing real estate under the authorization of the owner of the house, construction work, and person with the right to use it. land;

+ Organize the provision of services to ensure the normal operation of real estate;

+ Organize the maintenance and repair of real estate;

+ Manage and supervise the exploitation and use of real estate by customers in accordance with the contract;

+ Implement rights and obligations to customers, to the State as authorized by the owner of the house, construction work, or person with land use rights.

– Content, time, scope of real estate management, rights and obligations of the parties and price of real estate management services are agreed upon by the parties in the contract.

– Enterprises providing real estate management services are responsible for implementing commitments in the contract and Compensate for damages caused by your fault.

3. Conditions of organizations and individuals doing real estate business

Pursuant to Article 4 of Decree 02/2022/ND-CP stipulating:

Conditions of organizations and individuals doing real estate business

– Organizations and individuals doing real estate business must have the following conditions:

+ Must establish an enterprise according to the provisions of the law on enterprises or a cooperative according to the provisions of the law on cooperatives, with real estate business (hereinafter referred to as enterprise);

+ Must be published on the enterprise’s website, at the headquarters of the Project Management Board (for real estate business investment projects), at the real estate trading floor (for business cases). business through real estate trading floors) information about the business (including name, head office address, contact phone number, name of legal representative), information about real estate put into business according to the provisions of Clause 2, Article 6 of the Law on Real Estate Business, information about mortgages of houses, construction works, real estate projects put into business (if any), information about the quantity and type of real estate products to be traded, quantity and type of real estate products. products sold, transferred, leased and purchased, and the quantity and type of remaining products being continued in business.

For information that has been made public as prescribed in this point and is subsequently changed, it must be updated promptly after the change;

+ Only trade in real estate that meets the conditions prescribed in Article 9 and Article 55 of the Law on Real Estate Business.

– In cases where the investor is selected as the project investor. Real estate project according to the provisions of law, that investor must have equity of not less than 20% of total investment capital for projects with land use scale of less than 20 hectares, not less than 15% of total investment capital for projects with land use scale of 20 hectares or more. When conducting real estate business, the project investor must meet the conditions specified in Clause 1 of this Article.

The determination of equity specified in this Clause is based on the results of the most recent audited financial statement or the results of the independent audit report of the operating enterprise (done in the year or the immediately preceding year); In case of a newly established enterprise, the owner’s capital shall be determined according to the actual charter capital contributed according to the provisions of law.