Eggshell apartment explodes! The governments of many places should not drive out the tenants in this way

category:Finance
 Eggshell apartment explodes! The governments of many places should not drive out the tenants in this way


Since the beginning of this year, thunderstorms in long-term apartments have become the hardest hit area, all due to the broken capital chain. In this regard, many government departments have taken emergency measures to intervene in the eggshell apartment crisis to resolve contradictions and risks. Since November, Chengdu, Xian, Chongqing and other places have successively issued documents to regulate the leasing market.

Shenzhen housing bureau issued an emergency notice on the same day, Wuhan Housing Administration Bureau also took action.

On November 25, the website of Wuhan housing security and Housing Administration Bureau issued the urgent notice on Further Strengthening the supervision and management of housing rental industry.

According to the notice, real estate brokerage agencies, housing leasing enterprises and network information platforms engaged in Housing leasing activities, as well as units or individuals who sublet more than 10 sets (rooms) of houses shall register as market entities according to law.

Before formally carrying out the housing leasing business, the housing leasing enterprises and real estate brokerage agencies shall submit the basic information of the enterprise to the district housing management department where the enterprise is registered through the Wuhan Housing leasing transaction supervision service platform or Wuhan real estate brokerage service platform, including business scope, investment subject, investment funds, financing situation, employees, social credit code, etc Fire safety management system and other information, the district housing management department on this basis to carry out in-process, after the supervision work.

Notice also pointed out that housing rental enterprises should be fully aware of the high in low out and long-term receipt and short payment mode of market expansion, which will lead to the business risk and legal risk of capital chain breaking. It is not allowed to maliciously increase or reduce the rental price and infringe on the long-term legitimate rights and interests of house owners and lessees by means of high import and low output and long-term collection and short payment.

In addition, the notice also stipulates that the housing leasing enterprises shall not require the lessee to use the rental consumption loan by concealment, deception and coercion, shall not induce the lessee to use the housing rent consumption loan in the name of rent installment and rent preference, and shall not embed the relevant contents of the housing rent consumption loan into the housing lease contract.

Shenzhen Bureau of housing and urban rural development: it is not allowed to drive away eggshell tenants by means of water and power cut

On November 25, the Shenzhen Property Management Industry Association issued the urgent notice of Shenzhen housing and Construction Bureau on the stability of eggshell apartment tenants on its official website.

According to the notice, tenants who have signed a lease contract with eggshell apartment, are still in the lease term and have paid the rent in full, shall not be driven away by means of water, power and gas cut off, which will aggravate the conflicts, and guide all parties to solve them through legal means.

The Shenzhen Bureau of housing and urban rural development said that the housing construction bureaus of all districts (new districts) should strengthen supervision. Property service enterprises that drive out tenants by means of water, power and gas stoppage should be ordered to correct immediately and given administrative penalties such as warnings and fines in strict accordance with the relevant provisions of the property management regulations of Shenzhen Special Economic Zone.

In addition, in order to effectively deal with the eggshell apartment incident and maintain social stability, the notice also stipulates that property service enterprises should take the initiative to report to the street office where the residential area is located in case of lease disputes and unstable factors between owners and tenants caused by the default of rent of eggshell apartments.

According to the data, in November 2020, eggshell apartments signed contracts in Shenzhen with about 11000 owners and 11000 houses. The current tenants are 31500, and the number of tenants is not small.

Eggshell apartment goes bankrupt again

Since the beginning of this year, many parents have been thundering in renting apartments one after another, without exception because of the broken capital chain. Among them, eggshell apartments, the leading enterprise of long-term rental apartments, which has been successfully listed in the U.S. capital market, is the most typical.

After the storm of CEO being investigated, capital chain broken, senior executives leaving, rent quitting storm, eggshell apartments have been exposed to the news of broken capital chain, running away, bankruptcy and so on. Recently, the eggshell apartment crisis has further escalated due to large-scale rights protection of tenants and landlords.

Eggshell apartment is a high-end white-collar apartment brand owned by purple Wutong (Beijing) Asset Management Co., Ltd., founded in Beijing in January 2015, officially entered the O2O rental market. Currently, it has opened branches in Beijing and Shenzhen. On the evening of January 17, 2020, eggshell apartment, a long-term apartment operator, successfully landed on the NYSE, becoming the first Chinese capital stock to land on the NYSE in 2020.

As early as October this year, eggshell apartment was once said to be running away and going out of business. The company replied on its microblog at that time: recently, some of the partners have taken drastic actions due to commercial disputes with the company, spreading false statements, videos and pictures related to eggshell running away and going bankrupt . The company has already called the police for handling. Earlier, during the outbreak of the epidemic this year, eggshell apartments caused disputes because they asked the owners to rent free on the one hand, but did not rent free the tenants on the other.

Recently, the eggshell apartment of the long-term rental apartment has again been reported that the network of the apartment is disconnected, the tenant is ordered to leave, and the rent of the partner and the landlord are in arrears. On November 6, CCTV named the eggshell apartment and revealed that it was deeply in the liquidity crisis. On November 10, the media revealed that hundreds of people were defending their rights in the eggshell apartment Beijing headquarters, and physical conflicts broke out at the scene.

On November 16, it was rumored that eggshell apartment would be declared bankrupt again. The public relations department of eggshell apartment replied that it was a rumor. At present, the company does encounter financial difficulties, but it is actively dealing with it.

Due to the financial crisis of eggshell itself, unable to pay the rent to the landlord, many landlords began to drive people violently, and a large number of tenants were facing the plight of being homeless in the cold winter.

According to the cover news report, on November 24, a large number of landlords went to the offline offices of eggshell apartments in Chengdu to ask for rent arrears or contract termination. However, the offline office building of eggshell has been empty, and only the QR code converted to online processing is pasted on the door.

By the end of 2019, eggshell has operated more than 438309 apartments. The number of tenants is estimated to be 400000 at least.

From the secondary market performance point of view, the eggshell apartment stock price has been falling since January this year. By the end of November 24, its share price had fallen to $3.32 from $13.50 in the early days of the listing.

At the same time, the companys financial data are very poor. From 2017 to 2019, eggshell apartment had a net loss of 270 million yuan, 1.37 billion yuan and 3.43 billion yuan respectively; the companys asset liability ratio increased from 82.62% in 2018 to 95.78% in 2019.

According to the analysis, the reason for the continuous loss of eggshell apartment is that from 2017 to 2019, the company used the rent loan mode to expand rapidly, and the number of operating rooms increased nearly 30 times. As of the first quarter of this year, the number of management rooms of eggshell apartment has reached more than 400000, with a total of more than 1 million users.

Government departments involved in eggshell apartment crisis

Due to the large number of people involved, the thunder storm incident in eggshell apartment caused a bad impact. Before the government departments of Shenzhen and Wuhan issued an emergency notice on November 25, many government departments have been involved in the crisis of long-term rental apartments, and many urban government departments have issued a number of policies.

Specifically, there are differences in these policies. For example, it is necessary to put the minimum rent into the credit rating of enterprises in Xian.

In September, Shenzhen solicited public opinions on the establishment of a rental fund supervision system. Housing rental enterprises should set up a unique rental fund supervision account in commercial banks within the jurisdiction of Shenzhen City, and sign a lease fund supervision agreement.

On October 30, Xian launched the notice on supervision of housing rental funds. Before the notice, registered trusteeship leasing enterprises should select a regulatory bank to sign the housing rental fund supervision agreement and open a unique regulatory account to accept the supervision of housing rental funds before November 14, 2020.

On the evening of November 17, Shenzhen housing and Construction Bureau issued the urgent notice of Shenzhen housing and Construction Bureau on effectively standardizing the operation behavior of housing rental enterprises, requiring all housing rental enterprises in the city to strengthen the supervision and management of the housing rental industry, strictly implement the information publicity system, effectively standardize the management of employees, ensure the authenticity of housing information release, and strictly punish illegal leasing according to law Behavior, careful choice of rent collection mode, establishment and improvement of dispute mediation mechanism.

On November 24, Xian city of Shaanxi Province issued a notice on public soliciting opinions of Xian housing rental enterprise credit information management measures (Draft), which will classify the housing rental enterprises in Xian, and reward and punish them according to the credit rating. The credit punishment measures mainly include: freezing all authorities of Xian housing leasing transaction service platform; informing the society and issuing transaction risk tips; listing in the blacklist of dishonesty, notifying relevant departments to implement joint punishment; including its legal representative, shareholders and relevant responsible persons in the list of dishonest persons.

If the period of rent payment by the lessee to the housing leasing enterprise exceeds three months, the rent received by the housing leasing enterprise and the funds obtained by the housing leasing loan shall be included in the supervision. If the period of rent payment by the lessee to the housing leasing enterprise is within three months, the lessee shall decide whether to deposit the rent into the supervision account for management.

Thunderstorm surge:

The occupancy rate of long-term apartments in first tier cities is relatively high. However, due to the problems of high buying and low selling, blind expansion and so on, many long-term apartment enterprises are difficult to operate, and more and more long-term apartments have disappeared from the market.

According to the public data, there are about 170 enterprises related to long-term apartments that have been cancelled or revoked (subject to industrial and commercial registration), accounting for 15% of the total number of relevant enterprises.

In addition, according to the incomplete statistics of Shell Research Institute, from 2017 to now, there are as many as 107 enterprises that are caught in the fracture of the capital chain, business disputes and running away. Nearly 40% of the enterprises with thunder occurred this year, and nearly 70% of them are caused by the mode of high collection and low rent.

According to Tencent News, due to fierce competition in the industry, in order to obtain housing resources from landlords, many operators have to bid up prices to seize resources. In particular, buying high and selling low and blindly expanding have led to problems in the capital chain of some enterprises. Since 2018, a large number of long-term rental apartment enterprises, such as go wo apartment, color apartment, AI apartment and Dingjia apartment, have experienced thunderbolt and road running incidents.

Since then, the explosion of long-term rental apartments in many parts of the country has intensified. According to Fang Dongdong data, in 2019, 53 parents had business problems renting apartments. There were 45 families with broken capital chain and running away, 4 were acquired, and 4 were in arrears or refusing to pay rent.

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Eggshell source: responsible editor of China fund newspaper: chenhequn_ NB12679