Research On Issues Related To Non-Standard REITs Financing Of Long-Term Rental Apartment

Long-term rental apartment industry,as one of the housing rental market segments,is highly regarded for its development prospects based on national policy support and strong market demand.More and more real estate development companies are also involved in it,seeking strategic transformation and upgrading.However,in the actual operation,the long-term rental apartment industry has a development dilemma,and its long return period and difficult profitability determine that it needs a lot of financial support.As an important mode of asset securitization in China,the combination of non-standard REITs and long-term rental apartment is helpful to achieve large-scale expansion of the industry and solve the problem of capital demand at the cost end.Through the analysis of the case of non-standard REITs in Yango Group,this paper reveals that non-standard REITs not only has a beneficial impact on the financial aspects of enterprises,such as reducing the cost of financing and lowering the level of leverage,but also has a negative impact.As the estimated liabilities accrued by sub-leasing properties constitute a major change at the end of 2018,further financial analysis and strategic analysis of the sub-leasing properties are carried out.Based on the available data,this paper predicts the financial impact of the implementation of the new leasing criteria in 2020,and analyzes the impact of the estimated liabilities accrued on the issuance of non-standard REITs long-term rental apartment on the current and subsequent years of the company's financial statements.The main risks such as weak profitability of existing property properties and vacancies in relevant legal systems are proposed from the perspective of enterprises and relevant government departments.In the process of analysis,this paper also found that the lack of endogenous demand for the sale of the underlying property by the financier seriously hindered the development of REITs in China.The public REITs is coming soon.And the long-term rental apartment is an important pilot industry.The enterprise's early layout of the industry is conducive to taking the lead.In the future,relying on the advantages of public REITs,the industry will have more cash flow.At the same time,professional operators will pay more attention to the profit and improve the quality of service.And they will promote the industry's healthy development jointly.