It is understood that as early as 20 19 and 1 1, Hangzhou promulgated the Measures for the Supervision of Housing Leasing Funds, and set up two important measures, namely, a special deposit account for leasing funds and a risk prevention and control fund.
A number of industry insiders told the National Business Daily that this notice is a supplement to the previous Measures for the Supervision of Housing Leasing Funds. By implementing the fund supervision policy, Hangzhou can effectively reduce and prevent the risks in the housing rental market and play an important role in protecting the legitimate rights and interests of tenants and landlords. In the field of real estate transactions, many cities and regions have requirements for real estate supervision accounts to ensure the safety of transaction funds. The practice in Hangzhou may attract more cities to follow suit.
Screenshot of official website, Hangzhou Housing Security and Real Estate Administration
The new regulations will effectively reduce market risks.
According to the notice, from August 3 1, the rent paid by the housing leasing enterprise to the entrusted lessor, the rent and deposit collected from the lessee, and the funds obtained by using the "rent loan" should be paid into the special deposit account for leasing funds.
In addition, before September 30, the "entrusted" housing leasing enterprises should pay the risk prevention and control fund for the corresponding houses of the newly entrusted houses in 2020; Commissioned housing stock, should pay 30% of the risk prevention and control fund, the remaining risk prevention and control fund payment time in accordance with the provisions.
Jaco, dean of the branch of Anjuke Real Estate Research Institute, told the reporter of National Business Daily that in the past, the outbreak of long-term rental apartments was mostly caused by enterprises misappropriating the rent of a large number of tenants to collect houses. Once the empty rent rate rose sharply or the rental income obviously failed to meet expectations, it would have a great impact on the cash flow of enterprises, which would seriously lead to the closure of enterprises, thus infringing on the interests of the original landlords and tenants. The Notice requires that "leased funds should be paid into a special deposit account", so that the use of funds can be effectively controlled, which will significantly reduce the above risks.
Regarding the stipulation in the Notice that "the entrusted stock house should pay 30% of the risk prevention and control fund", Jaco believes that this measure is equivalent to "double insurance". While ensuring the safety of the leased funds, it is required to deposit the risk prevention and control fund for the safety of the enterprise. Once the enterprise changes, it can protect the corresponding rights and interests of relevant interest groups to the maximum extent.
In addition, the notice also pointed out that housing rental enterprises that fail to do a good job in the supervision of housing rental funds in accordance with these regulations will be dealt with in accordance with the provisions of Article 10 of the Measures for the Supervision of Housing Rental Funds in Hangzhou (Trial) (hereinafter referred to as the "Measures") issued by 20191. Depending on the seriousness of the case, interviews, inclusion in the risk warning list, suspension of online signing for the record, cancellation of financial support qualifications, and recording in enterprise credit files will be adopted.
It is worth mentioning that according to the policy interpretation document, the formulation of the Notice is mainly due to the serious difficulties in the production and operation of housing leasing enterprises caused by the novel coronavirus epidemic. In order to reduce the burden on enterprises, help enterprises cope with risks effectively, tide over difficulties, and support enterprises to resume work and production, the "Measures" appropriately postpone the payment time for fund supervision and risk prevention and control of rental housing enterprises, which is more conducive to reducing the operating risks of housing rental enterprises, safeguarding the rights and interests of tenants and landlords, and promoting the stable and healthy development of the rental market.
Or accelerate the reshuffle of the long-term rental apartment industry.
Jaco told the National Business Daily that the promulgation of the Notice put forward higher requirements for Hangzhou long-term rental apartment enterprises, and once the lease funds enter the supervision account, they shall not be misappropriated without authorization. "As a result, some long-term rental apartment enterprises with insufficient funds will face a shortage of funds in the future."
In addition, Jaco also believes that strict capital supervision also poses a corresponding challenge to the dual landlord model of leasing institutions (that is, renting the whole house from the original landlord first, and then subletting it to others in whole or in separate rooms to profit from it).
It is understood that the vast majority of long-term rental apartments still adopt the second landlord business model. In addition to the scissors difference, long-term rental apartment enterprises also set a payment time difference, which is relatively strict with tenants' payment time requirements. Generally, tenants are required to pay rent loans in the form of one mortgage every six months, one mortgage every year or high rent monthly payment, while landlords generally pay in the form of one mortgage, three mortgages or monthly payment.
It is precisely because of this payment time difference that long-term rental apartment enterprises can obtain a deposit fund, and then use this deposit fund to continue to race around the market or misappropriate it for financial operations.
"High-income and low-rent model, blindly expanding scale, or some long-term rental apartment companies are short of funds. Once you encounter the time difference of the capital chain, it may cause circulation problems and may cause thunder. " Jaco pointed out.
In recent years, the long-term rental apartment market in Hangzhou is active. At the same time, the long-term rental apartment enterprises in Hangzhou are also frequently "bursting". According to the incomplete statistics of the reporter of China Business Daily, Le Jia Apartment, Dingjia Apartment, Guo Chang Apartment, Walker Apartment, Deyu Technology, Zhong Xuan Real Estate and other long-term rental apartment companies have appeared in the Hangzhou long-term rental apartment market.
A person engaged in long-term rental apartments believes that with the promulgation of the Notice and more detailed measures, the long-term rental apartment industry in Hangzhou, which was blindly expanded and lacked supervision in the past, can play a role in regulating market order.
Long-term rental apartment enterprises will inevitably increase the corresponding housing collection costs if they want to increase their market share to a greater extent. The above-mentioned people said that the current rent increase in the rental market is weak, and the simple two-landlord model has not produced a corresponding income difference. Most long-term rental apartments in the market are facing losses. Now this more stringent measure in Hangzhou will make long-term rental apartment enterprises face greater challenges, and will also accelerate the reshuffle of the long-term rental apartment industry.