Mushroom Rental Housing Rental Cash Card Shell Supervision To Strictly Control The Capital Pool Of Long-Term Rental Industry

Another Internet innovation model has met with Waterloo. In the past, there were two long-term apartment operators, Qingke and eggshell. Later, mushroom rental platform encountered capital chain crisis.

Faced with more than 30 million rent arrears, mushroom rental founder, senior management team has recently lost contact. However, Ma Xiaojun, the founder of the company, issued an article in the early morning of February 4, insisting that he would not leave Shanghai.

On February 5, 21st century economic reporter tried to open the mushroom rental app on Alipay and wechat, and found that Alipay had been removed from the shelves, and wechat applet could also enter the mushroom rental interface.

In response to the 21st century economic report, Alipay, as a payment channel, has no access to funds for the third-party small programs on Alipay platform. Wechat did not respond.

On February 5, an apartment related to a cooperative relationship with mushroom rental house revealed that mushroom rental customers are all over the country. According to the spontaneous statistics of the landlords who have business contacts with mushroom rental houses, the funds involved are more than 30 million. Due to the lack of contact with the mushroom rental management, the whereabouts of the rent is unknown.

Mushroom rental

21st century economic reporter learned that mushroom rental has been interviewed by relevant departments. In the early morning of February 4, the founder Ma Xiaojun issued a paper admitting that the company had a capital crisis. Due to the lack of good wind investment funds in the early stage, the user ran, leading to the outbreak of the problem.

According to public information, mushroom rental housing was founded in early 2014, formerly mushroom apartment. In 2014, it successively obtained RMB 30 million of risk investment from Ping An venture capital and IDG, as well as Haitong Kaiyuan fund leading investment, and $25 million of round B venture capital jointly invested by IDG and Ping An venture capital.

At the beginning of 2015, mushroom apartment transformed into mushroom rental house and positioned as a rental platform. In August, it obtained $30 million of B + round venture capital invested by KTB.

In March 2017, mushroom rental announced that it had completed the c-round strategic investment of tens of millions of dollars by ant financial services (now renamed ant group). In December of the same year, it completed the C + round financing of US $30 million, led by Yunfeng fund, followed by giant network group and ant financial services.

At present, mushroom rental houses claim to have more than 4 million houses, covering nearly 20 cities.

Mushroom rental business model is a rent collection platform, which collects system service fees by outputting SaaS system. Around 2018, mushroom rental also launched a number of package services. Businesses can obtain more room source entry, E-contract, wechat group sending quantity and so on by purchasing member packages. Specifically, the apartment operators input the housing resources into the mushroom rental system, and pay the service fee according to the number of housing source contracts. Generally speaking, the mushroom rental house will charge a handling fee of 3% of each rent. The payment method is "D + 1" days. The tenant can withdraw the rent immediately by transferring the rent to the mushroom rental account, which can be received within one working day.

It is understood that most of the apartment operators who use the mushroom rental system are second landlords. The rent of their tenants is collected by the mushroom rental house, and then the mushroom rental house calls the apartment party regularly. Second, the landlords think that the mushroom rental mode is convenient for house source management, and the cooperation has been relatively stable in recent years. In 2020, many second landlord customers also participated in the mushroom college course taught by long Dongping, co-founder of mushroom rental housing.

Starting from the second half of 2020, some apartment owners found that it was difficult to get cash withdrawal. From the past one day to three to five days, it finally turned into a week. An apartment operator revealed that "there are hundreds of thousands of apartments in cooperation with mushroom rental, and there are also several individual landlords. Some second landlords are in arrears with more than 1 million rents, which is under two-way pressure between the big landlords and the tenants. "

According to its disclosure, in the past, the payment channels of tenants can be closed in the background. Before the mushroom rental incident, it should be in mid January, and businesses can not close the payment channels independently. Later, businesses can only inform tenants to pay off-line rent one by one to avoid greater losses, but many tenants will habitually pay the rent above.

An internal employee of mushroom rental house disclosed that the main reason for the slow withdrawal of cash from the platform in recent years is the channel fee payment problem. The channel fee charged by the third party is calculated according to the transfer time. If "D + 1" is 6% and "D + 5" is 3%, it is limited by the amount. Generally, in the first half of the month, the "D + 1" quota is used up, and then the "D + 5" quota is activated. Roughly calculated, the mushroom rents a month to spend several million channel fees, which virtually become the burden of mushroom rental housing. Mushroom rental housing has been docking more payment channels recently.

It is understood that an apartment operator puts the rent collection business of more than 200 suites into "mushroom rental house", and opens multiple accounts. Each account needs to pay about 6000 yuan service fee to "mushroom rental house" every year. "There are other fees for mushroom rental, such as additional purchase when the contract number is used up, and purchase when the SMS reminder is gone," the apartment operator said 。

Mushroom rental has been in operation for six years. According to qixinbao information, in July 2019, Ji Gang, the investment director of Alibaba group, withdrew from the board seat. At the same time, ant financial also withdrew from the equity of mushroom rental house. However, mushroom rental has always claimed to be ant financial's strategic investment partner.

Qixinbao shows that on January 6, 2021, the legal representative of mushroom rental company was changed from Ma Xiaojun to Xu tiegen.

Since the second half of 2020, landlords have found that the time for rent withdrawal to the account has become longer, and they have successively changed the source information to other platforms, such as yuxiaoer, quanfangtong, etc., or have informed the tenants to change to offline payment. As a matter of fact, many tenants who have already returned their rent can not get back the deposit. In Shenzhen Qingmu apartment, tenants who have already retired in December 2020 have been informed that the deposit will not be refunded until March 2021.

According to a mushroom rental related person, relevant departments have been involved in the mushroom rental incident, and shareholders are also highly concerned about it. The management should hold a board meeting to discuss the overall solution, and report to the relevant departments. The actual settlement process can only be formally started after the confirmation of all parties.

February 2, mushroom rental housing has been ordered to close business for asset liquidation. But Ma Xiaojun did not talk about the company's debt situation and whether to liquidate in the early morning of February 4. The 21st century economic report reporter learned that some of the employees involved in the operation of mushroom rental housing are also waiting for the company to deal with the debt problem before handling their resignation procedures.

As of the press release, the mobile phones of Ma Xiaojun, founder of mushroom rental house, and long Dongping, co-founder of mushroom rental house, are in the status of being on the phone, unable to connect.

Lu Wenxi, an analyst at Zhongyuan Real estate market in Shanghai, pointed out that Shangjia, intermediary and Xiajia are only one party in the three-party transaction. Generally, the intermediary will not involve in any money transactions with landlords, buyers or tenants, otherwise the transaction will have uncertainty and potential risks.

Strictly control the capital pool of long-term rental industry

Mushroom rental has attracted the attention of regulatory authorities. On the afternoon of February 4, Shanghai housing and Urban Rural Construction Management Committee and other ten departments officially issued the implementation opinions on further rectifying and standardizing the order of housing rental market in Shanghai. In order to regulate the order of housing rental market, the document puts forward nine normative opinions. The supervision should be strengthened from three aspects: strict control of rent loan, clear rent collection cycle and strengthening information release management.

In just four days, Beijing, Shanghai and Shenzhen have successively issued documents to rectify the order of the housing rental market. On February 1, Shenzhen housing and Construction Bureau issued a notice on Soliciting Opinions on several measures to further promote the stable and healthy development of housing rental market in Shenzhen. On February 2, the Beijing Municipal Commission of housing and urban rural development, the Municipal Bureau of market supervision, the Municipal Finance Bureau, the Municipal Information Office of the municipal Party committee and the Beijing Banking and Insurance Regulatory Bureau jointly issued the notice on regulating the business activities of housing rental enterprises in this city. The policies issued by the three places have made it clear that capital supervision should be implemented for housing rental enterprises, and a special account for housing rental funds should be established to collect rents and deposits.

Hu Jinghui, chief economist of Jinghui think tank, thinks that the fund pool will become history. The fund supervision policy effectively avoids the risks brought about by the misappropriation of funds pool and deposit by leasing enterprises, which is very beneficial to the protection of the rights and interests of tenants and landlords; on the other hand, it also puts forward higher requirements for the self owned funds and financing capacity of leasing enterprises, which will lead to significant changes in the industry pattern in the future.

Quan Li, founder of fangdongdong, pointed out that the long-term rental industry will really enter the new year of supervision, and more than 40% of small and medium-sized apartments are expected to close down.

In the past few years, the brutal growth of renting apartments has not only promoted the rapid development of the industry, but also brought a lot of sequelae. Operators charge high rents and low rents, and misappropriation of tenants' deposit occurs frequently. Quan Li pointed out that sometimes the long-term rental apartment is not a problem of deteriorating business operation, but a problem of suspected crime. This year, there may be significant changes in the identification of the nature of apartment blasting.

In early January, the central political and legal work conference specifically mentioned that we should be highly vigilant against the operational risks of long-term rental apartments, and improve the coordination mechanism between political and legal institutions, financial institutions and industry regulatory authorities.

Previously, both the Central Committee and the Ministry of housing and urban rural development stressed that: we should speed up the housing security system with public rental housing, affordable rental housing and housing with common property rights as the main body, vigorously develop rental housing, improve the long-term rental housing policy, expand the supply of affordable rental housing with large and small household types and low rent, and explore and support the use of collective construction land to construct rental housing according to the plan.

Usually after the Lunar New Year is the peak rental season, the introduction of corresponding policies at this point in time will help regulate the rental market and protect the rights and interests of all parties in the market.

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