Study On The Operation And Promotion Of Rental Housing REITs

With the development of China's urbanization process,the demand for rental housing of the people is also growing.Compared with the continuous increase in rental demand,the current leasing market is relatively lagging.On the one hand,in order to make China's housing leasing market more rapid,the state has introduced a series of policies to support the development of rental housing REITs;on the other hand,the profit of real estate companies has dropped significantly,so real estate companies have a strong internal transformation to change.In this context,along with the national finance innovation and development,rental housing REITs products came into being.However,the development of China's rental housing REITs has not been as strong as expected.By the end of 2018,the market had only launched in the number of four in the long-term rental apartment rental housing investment trust products.This can not help but make people thinking,under the premise that the domestic policy and economic background is so favorable,and under the premise of the eager transformation of real estate enterprises,what problems exist in the development of rental housing REITs has been stagnant,and the reasons for its slow development are thought-provoking,what should we do to promote rental housing REITs booming in our country?This article takes the first shelf leased REITs product in China—BAOLI Real Estate Leasing Housing Asset Support Special Plan as a special example and uses some related financial theory,like bankruptcy isolation and credit enhancement.From the internal conditions of the special plan(business model,economic effect,risk exists)and the external environment in which the special plan is located(Policy environment and real estate industry environment)analysis,I believe that the development of REITs products in the rental housing market needs rich basic assets,steady cash inflow,attention to product liquidity and return on investment,perfect legal taxation and professional branding agency.On this basis,it is recommended to obtain high-quality basic assets based on large-scale real estate,carry out specialized branding operation training,improve product liquidity,adjust the land supply mechanism in the context of policy dividends,and improve the legal tax missing part,thereby promoting rental housing REITs Development in our country.