Application Analysis Of REITs In My Country's Rental Housing Finance

Real Estate Trust Investment Fund,the English name is Real Estate Trust Investment Fund,referred to as REITs,it is a relatively innovative financing method for real estate companies.It is closely related to the real estate industry and the financial industry.It refers to the collection of social funds and the use of specialized institutions to investing in real estate development with talents,and then the income is regularly distributed to investors' investment methods.In the real estate industry,the financing of the real estate industry is difficult.In the regulation of the real estate industry,the sources of traditional financing channels such as bank loans and self-raised funds have gradually narrowed,and difficulties in bond issuance have also emerged.Real estate trust investment fund is a new type of corporate financing encouraged by the policy channel.China's real estate trust investment fund is one of the highlights on the road to exploring a sound multi-level capital market.Rental housing REITs is securitized products that are financed by leased housing projects.The development of the rental housing market lies in two key factors:the reduction in the cost of holding a rental housing business and the control of rent.Securitization of rental housing assets is one of the most effective means of solving problems.This paper first studies the background and significance of the case of Poly leased housing REITs,and collates relevant literature,including relevant literature published by core journals in both foreign and domestic.In addition,in order to facilitate readers to have a deeper understanding of REITs in rental housing applications,this paper further elaborates on the status quo and reform goals of China's rental housing finance,and explains the innovations of this research and some shortcomings of the author's research in the case.Secondly,it introduces the case of Poly leased housing REITs,including setting background,participating entities,basic assets overview,offering and liquidity,and then analyzes its transaction structure design,asset construction and management,bankruptcy isolation design,credit enhancement measures and the exit mechanism,in order to provide some reference for the future enterprise rental housing REITs.According to the analysis,it summarizes the typical characteristics and deficiencies in the investment operation of Poly rental housing REITs,and based on this,puts forward several policy recommendations to play the demonstration-oriented effects of the Poly sample,which is very important to promote the development of the real economy.