To regulate the “rental lending” of long-term rental apartments, regulatory policies are on the way_ 东方 Fortune.com

Summary

[La politica di regolamentazione sui “prestiti in affitto” per appartamenti in affitto a lungo termine è in arrivo]Long-term rental manager Eggshell Apartments is said to have recently fallen into bankruptcy, so that the problem of “rental loans” has resurfaced. Loans for rental payments refer to tenants who rent homes through a mortgage. The rental loan model used by Eggshell Apartments is one of the current market models. (Shanghai Securities News)

Long-term rental apartment operatorsEggshell ApartmentsRecently returnedFailureVoices, leave “rentThe “loan” issue has re-emerged.

Loans for rental payments refer to tenants who rent homes through a mortgage.Eggshell ApartmentsThe rental loan model used is the current onemarketOne of the common models, tenants andEggshell ApartmentsSign the rentto contractThereafter, the financial institution cooperating with Eggshell Apartments will pay all rents during the lease period to Eggshell Apartments in one go. Eggshell Apartments will pay the rent to the owner on a monthly or quarterly basis and the tenants will pay the monthly or quarterly rent to the owner. Financial institutions repay the loans.

At first glance, this model is simply the beauty of the “full four”: tenants don’t have to spend a large sum of money at once, which can ease the pressure on renting; financial institutions face real market demand and meet the rigid demand scenario, and they can issueCreditOperators can expand rapidly to conquer the market; the owners hand over the house to the operators who take care of them, saving trouble and worries.

These years, accommodationsleaseThe market was encouraged by national policies, along with the pursuit of capital, the long-term rental apartment industry took the lead in one fell swoop and numerous long-term rental apartments were formedBrand, Like eggshell, free,QingkeSuch as operators of long-term rental apartments. Among them, eggshell,QingkeIt was listed on the US stock market.

However, how can things in the world be as you wish? The seemingly perfect model still hides many problems and risks.

Since 2018, due to the rapid development of the capital chain, many long-term rental apartments have “exploded” one after the other, causing the landlord to not receive the rent and the tenants to be kicked out, but they have to repay loans to financial institutions. The seemingly beautiful Quartet caused controversy all at once.

Although Eggshell Apartments replied that “failure is a rumor” this time, he also staged a similar storyline. Relative data in 2019 show that among the tenants of Eggshell Apartments, about 60% of tenants choose “rental loans”. As for the current problems, the eggshell “rental loan” partner WeizhongbankThe response stated that tenants who have paid the advance rent have the legal right of residence and the tenants mustCreditNot affection.

In Sifang’s “perfect closed-loop” model, “rental loans” have in the past been the main driving force for the growth of long-term rental apartments. The mystery is that financial institutions pay rent to property managers. apartments in a single payment, and the operators pay the landlord monthly or quarterly, and the remaining funds are deposited in their hands, forming a pool of funds.loanThis quickly collects listings in the market and then moves on to expand the scale of the business.

In essence, this is an operating model that uses leverage to gain ground. The risk is that there can be problems in any link, such as falling lease rates, early termination of tenants, reversal of rents and deleveraging by financial institutions, which can cause liquidity risks, making this model unsustainable.

This model is actually not new.It is related to the staging of education, medical beauty, decoration and other industriesconsumptionLoan is a number of ways. In recent years, in the baptism of the market, similar situations have occurred in the projects of staging of education and medical aesthetics.

High risk, soon let somebankIncrease vigilance and stop related activities directly.A regionalbankThe head of retail loans revealed that the bank does not grant loans for rent, educational installments, medical beauty installments, etc.CreditProductHe is concerned about the closure of the institution or the “rush” of legal representatives and the sinking of clientscreditRisks, resulting in many bad debts.

The problem is that directly denying “rental loans” does not help the long-term development of the real estate leasing industry. The industry’s dominant view believes that regulations should be strengthened, such as clarification of lending conditions and application methods, in order not only to facilitate tenants’ lending, but also to prevent over-indebtedness and control leverage. at a reasonable level. At the same time, there is a need to implement centralized safekeeping or custody of funds deposited in long-term rental apartment management institutions to reduce the possibility of misappropriation of funds.

ShanghaiTitlesNewspaper reporters have observed the corresponding measures taken by regulators over the past more than a year, and are linking and strengthening oversight. In 2019, the Ministry of Housing and Urban-Rural Development and other departments issued documents affirming the “rental loan” model andenterprisePropose clear regulatory requirements, such as concealment, deception, coercion, etc.lesseeWhen using consumer loans for the rental of housing, the tenant is not induced to use loans for the consumption of housing for rent in the name of a rent installment or rental concessions. At the same time, the percentage of housing rental loans should not exceed 30%, and those that exceed the proportion should be adjusted by the end of 2022.

Some places also have clear requirements from the capital account level. For example, Chongqing and Chengdu require real estate leasing companies to open the city’s only housing leasing fund supervisory account, and Hangzhou even requires housing leasing companies toActionFor the entrusted accommodation, a 30% risk prevention and control fee must be paid.

The aforementioned measures aim to reduce the size of the capital pool and the financial leverage of the operator, thus reducing the liquidity risk by setting a limit on the proportion;Deposit fundsRisks such as embezzlement.

While being regulated, long-term rental apartment operators must also obtain funds to support development.But most importantly, companies must recognize their own development status and improveOperatingmanagementLevel and risk awareness, to avoid taking too many steps, it is not worth it. Only then, accommodationRental marketOnly with healthy development can tenants, landowners, operators and financial institutions achieve real mutual benefit.

(Source: Shanghai Securities News)

(Responsible publisher: DF520)