Research On Asset Securitization Of Long-rent Apartment

Long-term rental apartments,which provide value-added services such as housing quality,daily management and social training,are an important part of the housing rental market,providing rental housing more in line with market demand,facilitating large-scale operation and revitalizing existing assets.However,the current operating situation of the long-term rental apartment is not good.The sustainable source of the development of the long-term rental platform is sufficient financial support,while the long-term rental platform in the growing period is difficult to raise funds under the current economic environment.The way to realize future cash flows through asset securitization has become a new choice for the long-term rental platform.The products with rental installment loans as the underlying assets are matched with more mature credit risk identification ability and mechanism,more accurate and efficient asset service ability and more precise and complete transaction structure.This paper takes it as an example to make a systematic exploration and summary.First of all,this paper briefly describes the current research results in asset securitization and long-term rental apartments.Then,taking “No.1" as a case,the paper makes an in-depth study of its transaction structure,underlying assets,basic assets and cycling structure.Finally,the article summarizes the innovation and deficiency of ‘Ziru No.1'.Based on the basic theory and real cases,this paper systematically analyzes the ‘ No.1' special plan,points out that its liquidity test account setting and revolving loan structure are of great guiding significance for asset securitization of long-term apartments,and further puts forward suggestions such as paying attention to the underlying asset design and standardizing the operation behavior for the perfection of asset securitization of long-term apartments.