Eggshell apartment capital chain crisis, micro banks in rent loan mire

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Reporter Shan Meiqi, Meng Junlian reports from Beijing
On November 16, the company’s response Department said it was “a rumor” in response to the Internet rumors that the eggshell apartment would be declared bankrupt. It also said that the company is currently facing financial difficulties, but is actively dealing with it.
Eggshell storm appeared early. Prior to this, Hangzhou, Dalian, Shanghai, Guangzhou and other places have caused widespread concern due to the interruption of the network to tenants and arrears of rent to landlords. A week ago, hundreds of tenants, suppliers, cleaners and maintenance personnel gathered at the headquarters of eggshell apartment in Beijing to protect their rights. There were even physical conflicts at the scene.
The reporter noted that there are a large number of tenants among the rights safeguarding masses. Most of the tenants have paid the rent but are still driven out by the owners who have not received the rent, or they are not driven out but have been cut off from the water and warm, which is unbearable. On the third-party complaint website, there were tens of thousands of complaints about eggshell apartment, pointing out that “the rent is difficult to be refunded” and that some users failed to withdraw cash in recent two months.
As a related party of “rent loan” business cooperation with eggshell apartment, Weizhong bank also issued an urgent announcement on the same day, saying that if the legitimate rights and interests of customers are infringed, it is suggested to protect their legitimate rights and interests through legal means, and at the same time, it said that the credit reference will not be affected before March 31, 2021.
Today, the above rent loan model makes eggshells, landlords, tenants, banks finally go to a four corner dilemma. The problem of “rent loan” has been exposed again. Judging from the thunderstorm of long-term rental apartment incidents in recent years, although the financial institutions involved are also victims, most of the industry people interviewed believe that there are still many problems and standards to be discussed in this cooperation mode.
Micro banks promise: will not affect credit reporting
On November 16, in view of the continuous financial problems of eggshell apartment recently, Weizhong bank, which cooperates with eggshell in “rent loan” business, issued an announcement in response to this issue.
Source: official website announcement of Weizhong bank
According to the announcement, according to the “housing agency lease contract” signed by the tenant and eggshell apartment, “you and the owner have formed a rental relationship, and have prepaid the rent, and enjoy the legal right of residence. It is suggested that they should continue to live during the rent paid period to protect their rights and interests. At the same time, if the legitimate rights and interests are infringed (such as forced eviction, water supply, power failure, etc.), it is suggested that the tenants should protect their legitimate rights and interests through legal means.
It is worth noting that the bank also said that it would guarantee that the tenant’s credit reference would not be affected at least before March 31, 2021.
According to the previous eggshell apartment employees, when the tenant signs a contract with the eggshell apartment, the eggshell apartment will apply for a one-year rental loan in the name of the tenant. The micro banks will pay the loan to the eggshell in a lump sum, and the tenant will pay the eggshell monthly in the name of rent to repay the loan in installments.
This also means that, as in the past cases of thunderstorms in long-term apartments, it is inevitable that tenants are driven out of their homes but still have to continue to repay their loans.
In terms of the rental loan ratio of eggshell apartments, in 2017, 2018 and 2019, the proportion of tenants who choose to rent loans will reach 91.3%, 75.8% and 65.9% respectively, and the loan amount has reached several billion yuan. Our reporter learned that at the end of 2019, the Ministry of housing and urban rural development and other six departments issued new regulations, requiring that the proportion of housing rental loan amount in the rental income of housing rental and loan enterprises should not exceed 30%, and those exceeding the proportion should be adjusted in place within three years.
On the one hand, the eggshell apartment rental loan business may face regulatory adjustment because it exceeds the red line; on the other hand, the loan partner Weizhong bank is also facing the pressure of increasing asset overdue risk.
Previously, eggshell apartment has been surrounded by negative news such as the financial crisis and the resignation of senior executives since this year. Eggshell apartment was founded in 2015 and went on sale in January this year. In addition, according to the financial report in 2019, the eggshell apartment achieved revenue of about 7.129 billion yuan, an increase of 166.5% year-on-year, and a net loss of 3.437.2 billion yuan in the first quarter of 2020.
In 2017 and 2018, eggshell apartments had a net loss of 272 million yuan and 1369 million yuan, respectively. It can be seen that the increasing rent loan ratio of eggshell apartment is closely related to its unsatisfactory operation. Once eggshell falls into the fracture of capital chain, the consequences can be imagined.
As for the further progress of eggshell apartment’s response on the 16th, the reporter of Huaxia times mentioned in the outline sent, but no reply was received by the other party as of the time of publication.
Excessive financial bubbles of entity enterprises
It is worth mentioning that before this, the local financial regulatory authorities have checked the financial institutions where the eggshell apartment is located to find out whether the “rent loan” is involved, and the investigation is still ongoing.
Shenzhen has said that eggshell apartments have “rent loan” situation, there is a greater risk of stability. According to the data, there are about 11000 contract owners, 11000 houses and 31500 tenants in Shenzhen.
In response to the problem of “rent loan”, the relevant person in charge of Beijing Municipal Commission of housing and urban rural development has also said that the Municipal Commission of housing and urban rural development, together with the Municipal Bureau of banking supervision and the Municipal Bureau of finance, will strictly investigate the source and flow of funds of these intermediary agencies, and will be severely punished once verified. Subsequently, the Shanghai Municipal Commission of housing and urban rural development and other five departments jointly issued a notice to further clarify the development of personal “rent loan” Business conditions, agent leasing enterprises must prompt risks, strengthen risk management, the main responsibility of banking financial institutions, and establish and strictly implement the interview system.
No doubt, the tenants and the tenants will go back to the shell and the corner of the house if they can’t get rid of the trouble. The relationship among tenants, owners and banks is a “dead circle” composed of victims.

Since the beginning of this year, Weibo English and other training institutions have closed down, but students need to continue to repay the loan. Soon after, the number of stages of thunder riding scenes of licensed financial institutions is also increasing. According to Su Xiaorui, a senior researcher at the hemp bag Research Institute, such service-oriented physical chain organizations, such as renting houses, beauty salons, fitness, education and training, etc., have similar characteristics. Institutions receive money with the nature of prepayment from consumers. However, if the capital chain breaks down or the founder runs away with money, consumers will be in trouble. In short, the advance payment of consumers is in the Vacuum state, facing the risk of being embezzled and taken away.
Su Xiaorui pointed out that consumers pay to get something. Specifically, there are two types of physical goods or services. Physical goods are paid by hand and delivered at the same time, and the money and goods are paid in both directions, and there is no reason to return the goods in seven days. However, the service is of the nature of prepayment, and the service provided by the physical chain service organization is a service, which is mismatched with the existence time of the prepaid money.
On the other hand, from the perspective of the supervision of prepayment, there are prepaid cards in the third-party payment license. Su Xiaorui disclosed that “this year, Ctrip has won the payment license, which includes prepaid card business. However, the payment license is a stock resource, which is a competition arena for Internet giants. However, many chain entities belong to private micro enterprises, and some are only local ones. The idea of using payment license is indeed to be discussed.”.
According to him, Shanghai has explored the relevant standards for single purpose prepaid cards, established a supervision and service platform for single purpose prepaid cards, and introduced depository banks and insurance institutions. “But who can’t be the next manager? Nowadays, we emphasize financial security and financial stability. In the same way, do entities also have physical security and stability? Physical chain organizations also have the nature of stakeholders. ”
Consumer finance is not just finance. The above-mentioned analysts said that the root of the problem lies in the service-oriented entity chain organizations. Some large-scale chain service institutions cross regions, stakeholders and do not have strong supervision. It is expected that the compliance cost of cross regional development of such large-scale institutions will increase, and the supervision of such cross regional and stakeholder entity chain service institutions will also be strengthened.