Application Research On Property Securitization Of Property Fees

Since the first case of asset securitization with property fees as the underlying asset in 2015,property fee income securitization has been the focus of property service companies and real estate companies with property subsidiaries.At present,many property service companies in China are associated with real estate enterprises.Many property companies operate independently as subsidiaries of real estate companies.Therefore,under the current situation that bank loans and traditional securities market financing are difficult,the property fee income right asset securitization provides a new financing channel for property service enterprises,and also provides a new financing method for its real estate enterprises.Revitalize corporate assets and reduce corporate financing costs.Through the literature reading and the collection and collation of relevant data,this paper explores the case of A-company property fee income right asset securitization.The main research methods and contents are as follows: 1.Using the literature research method to understand the related concepts and characteristics,theoretical basis and research status of property fee income rights asset securitization,as a theoretical support for case studies.Second,using the case study method,introduced the basic situation of the case and conducted multi-angle analysis,including financing motivation analysis,cash flow forecasting,major risks and prevention,and the financial effects of the special plan's issuance on A company;Using the mean variance method,the objective evaluation of the 37 single property fee asset securitization products has been carried out,and the comparative research method is used to compare the evaluation results of A products with other products to clarify the key improvements.From the above analysis of the case of A company's property fee income right asset securitization,some important conclusions and inspirations can be obtained,which will provide reference for enterprises that issue such asset securitization products in the future.The conclusions drawn: First,the property fee income right asset securitization provides enterprises with practical and multi-advantage financing methods;second,the company's higher cash flow principal and interest coverage factor and good risk control measures can be priority assets.Supporting securities to provide credit support;Third,property fee income rights Asset securitization products should focus on two aspects of product status and investor experience.The enlightenment from the expansion is: First,enterprises should increase the management of property;second,enterprises should provide appropriate credit enhancement measures;third,corporate financing channels should be diversified;and fourth,sound relevant regulations are the implementation of asset securitization.Strong protection.