Research On Risks And Prevention Of The Operation Mode Of " Long-Rented Apartment + Rent Loan"

Since 2018,many long-rented apartment companies has been broken,such as Dingjia Apartment and Yujian Apartment,which has affected the healthy development of the long-rent apartment market.Most of these companies with broken capital chains are based on “long-rented apartments+rent loan” as the main operating model.Z company also adopts this operating model.Therefore,this paper explores the risks of Z company under this operating model.And put forward corresponding risk prevention measures.First of all,this paper makes a brief analysis of the market situation of China's longrented apartments,combined with the long-rented apartment enterprises with broken capital chains,initially explored the existence of many risks in China's long-rented apartment enterprises.The summary is summarized as follows: The impact of uncertainty factors leads to operational risks.The liquidity risk of loss due to lack of cash and cash equivalents.Market risk caused by large fluctuations in asset prices or adverse changes.Changes in legal or regulatory policies may affect the regulatory risk of a company's normal production operations.Secondly,this article takes Z company as an example,because Z company's brand influence is among the best,and it has a high market share in the domestic long-rented apartment market.At present,Z company adopts the operation mode of “long-rented apartment + rent loan”.The essence is that apartment operators use financial means to add leverage in the rental process,and then open the cycle mode of “taking the house,renting,financing and expanding again”.In this operating mode,this paper analyzes the risk performance and causes of Z company.The summary is summarized as follows:(1)This paper measures the business risk of the enterprise through the cost-benefit model.Through sensitivity analysis,it is found that the rental premium rate and the housing vacancy rate are important factors affecting the business risk.(2)The liquidity risk is reflected by the horizontal comparison and longitudinal comparison analysis of Z's asset and liability structure.Combined with Z's capital chain,it is found that the mismatch of rental loan term and fund settlement are the main incentives for liquidity risk.(3)The market risk is reflected by the changes in rents and fluctuations in first-tier cities.The imbalance between supply and demand in the leasing market and the long-rented apartment operation model are the main incentives for market risks.(4)long-rented apartments are frequent,and lack of supervision is the main cause of regulatory risks.However,under this operating mode,there are many risks,which are summarized as follows:(1)Business risk mainly refers to the business risk brought by the enterprise for production and sales.This paper measures the business risk of the enterprise through the cost-benefit model.Through sensitivity analysis,it is found that the rental premium rate and housing vacancy rate are important factors affecting business risk.(2)Liquidity risk refers to the risk of loss due to lack of access to cash and cash equivalents.The mismatch of rent and loan maturity and the precipitation of funds are the main incentives for corporate liquidity risk.(3)Market risk refers to the risk caused by large fluctuations or adverse changes in asset prices.Unbalanced supply and demand for leased homes and long-rented apartment operating models are the main incentives for market risk.(4)Regulatory risk refers to changes in legal or regulatory policies that may affect the risk of normal production operations.Lack of regulation is the main cause of regulatory risk.Finally,in response to the above risks,this paper proposes corresponding risk prevention measures.In terms of internal control of enterprises,from a holistic perspective,long-rented apartment enterprises need to build a risk management system to improve their risk prevention capabilities.From a partial point of view,long-rented apartment not only need to provide quality services,increase the premium rate and rental rate of rents,but also need to establish a system of reserve funds to prevent liquidity risks.In terms of external supervision,the government not only needs to increase the supply of leased land,but also maintains stable rental prices.It also needs to improve relevant laws and regulations and guide legal compliance of rent loan.