Research On Financing Benefits Of Long-term Rental Apartments Under The Background Of Renting And Selling Simultaneously

In recent years,more and more college graduates choose to work in core cities,and renting has become the first choice for graduates to solve their housing problems.Along with national supporting policy for the housing rental market,the strong demand has spawned the long-term rental apartment,a segment of housing rental market.Long-term rental apartments are popular with young people due to their simple and modern decoration style,well-equipped furniture and appliances,and an efficient Internet operation model.This industry has flourished,and real estate developers,real estate agents,and hotel groups have also set foot in this territory.At the same time,this emerging industry also exposes many issues of concern.At present,as much as 25 operators of long-term rental apartments have gone bankrupt due to broken capital chains and poor management.This article takes the CMBS product of China Merchants Shekou as an example,and uses the event analysis method,financial index method,and Z3 model analysis to study its financing benefits.The main conclusions are as follows.(1)Compared with equity financing and debt financing,asset securitization financing is decoupled from the issuer’s body,pays more attention to the underlying asset projects,and is more suitable for long-term rental apartment operators.(2)The quality of the underlying assets of China Merchants Shekou CMBS products is of high quality,which has the advantages of financing cost and risk isolation.At the same time,there are risks of cash flow forecast of the underlying assets,liquidity risk of the secondary market and corporate financial risk.(3)Through the evaluation of three methods,it is found that China Merchants Shekou CMBS has good financing benefits.The market fully recognizes the financing behavior of CMBS.CMBS can enhance the wealth of shareholders,and at the same time it can improve the solvency,operating ability and profitability of the enterprise and reduce the financial risks of enterprises.Based on the research conclusions,it is recommended that the government continue to increase policy support and improve laws and regulations.The industry should innovate financing methods and improve the market supervision mechanism.Enterprises should select high-quality property assets,improve the level of operation and management,and strengthen credit protection measures.