Research On The Financing Performance Evaluation Of REITs Of Long-term Rental Apartment

In recent years,the country to develop the housing rental market,with the implementation of the series of encouraging policies,rent the apartment as an emerging industry in the rental housing market gradually by the attention of people,and gradually toward centralization,specialization and the brand development,but at the same time,the present stage our country long-term rental apartment commonly found in the process of operating a shortage of funds,financing difficult question.In view of this problem,by referring to the successful foreign experience of REITs financing for long-term rental apartment,people gradually try to apply REITs to the financing of long-term rental apartment.However,due to the late start of REITs in China,a mature financing management system of REITs for long-term rental apartment has not yet been formed.Whether the financing method of REITs can effectively solve the problem of financing difficulty for long-term rental apartment and thus play a positive role in improving the performance of enterprises with long-term rental apartment still needs to be further verified.Therefore,it is particularly important to evaluate the performance of the long-term rental apartment REITs financing project.In this paper,the research on the financing performance evaluation of REITs of long-term rental apartment.First of all,on the basis of in-depth research on the domestic and foreign research status,relevant theories of REITs financing of long-rented apartments are sorted out,the financing mode of long-rented apartments and the financing status of long-term rental apartment in China are analyzed,and the feasibility of REITs application in financing of long-term rental apartment in China is discussed;Secondly,based on previous research experience and starting from the operational process of REITs financing for long-term rental apartment,it is divided into four stages: establishment and issuance,operation and management,profit distribution as well as termination and exit,through identifying the factors affecting the financing performance of REITs of long-term rental apartment in the four stages,the key indicators affecting the financing performance of REITs of long-term rental apartment are determined through the primary selection and optimization of indicators,and finally the evaluation index system of financing performance of REITs of long-term rental apartment is established;Thirdly,based on the purpose of modeling,practicality and consideration of the financing characteristics of REITs for long-term rental apartment,on the basis of analyzing the common performance evaluation methods,the feasibility of applying matter-element analysis method to the financing performance evaluation of REITs of long-term rental apartment is analyzed,at the same time,the fuzzy analytic hierarchy process is used to calculate the index weight,and finally the financing performance evaluation model of REITs of long-term rental apartment based on matter-element analysis is constructed;Finally,the performance evaluation model is used to evaluate the real long-term rental apartment REITs financing project,the feasibility of the model is preliminarily verified,at the same time,through the analysis of the performance evaluation results,relevant Suggestions for performance improvement are proposed,in order to provide some reference for the development of REITs financing of China's long-term rental apartment.