Research On Asset Securitization Of Long-term Rental Apartments

The 19 th National Congress of the Communist Party of China has clarified the acceleration of the development of the housing leasing market,the implementation of the right to rent and purchase,and the direction of releasing supply-side housing in multiple directions.The policy tilt has injected vitality into the housing rental market,and a number of new brand apartments have emerged in the market.The nature of long-term rental apartment operations determines that it requires large-scale capital promotion in the early stage of development,so financing issues have become a key to the development of long-term rental apartments.Asset securitization originated in the United States and its development history in China is still short.As a new type of real estate financing tool,it can provide new financing channels for the real estate leasing industry and ease the financial pressure on long-term rental apartments.This paper takes "A company's asset support special plan" as a case to study the application of asset securitization in the long-term rental apartment industry.This paper uses a combination of literature research and case analysis to introduce the development status of asset securitization of long-term rental apartments,the status of enterprises in asset securitization cases,and financing drivers.The advantages and disadvantages of the portfolio asset pool in this case are analyzed in detail.The whole article is divided into five parts,namely:In the first part,the history of asset securitization in China is still short,but it has been developed abroad.The research that has been verified abroad may have implications for the development of asset securitization of long-term apartment buildings in China.Therefore,the author studies related articles at home and abroad as the basis for conducting research.The second part is related to the concept,defining the concept of long-term apartment and asset securitization,introducing the principle of asset securitization and the classification of long-rent apartment asset securitization,laying the foundation for further discussion.The third part introduces the case,the background of the development of the long-rent apartment asset securitization,the background of the current situation,the case of the main business of the case,and the financial status of the asset securitization.The basic assets and transactions of the “AAsset Support Special Plan” are clearly defined.structure.The fourth part of the case analysis,further analysis of the characteristics and possible risks of the “AAsset Support Special Plan” on the underlying assets and transaction structure.The fifth part summarizes and enlightens,according to the above analysis and summary of the case,the enlightenment of long-rent apartment asset securitization.