Yanzi Valley of Jingcheng

Chapter 282 Should I Ask You

"Currently, we have more than 700 million housing stock in Qingyang alone, half of which can be rented out, but the entire market is still dominated by landlords for casual renting, and the institutionalization rate is less than 10%."

The speaker in the quiet conference room was Ma Yu, her gorgeous orange red lips were so eye-catching, Ren Tianxing even wondered if it was the Ma Aishi lipstick recommended by Ni Die.

At the small-scale financial investor meeting convened by Yan Li, Ma Yu spoke as a representative of the post-investment management team of Yanzigu Apartment.

"The data from Lianjia Research Institute's "White Paper on Centralized Long-term Rental Apartments" shows that in the national apartment stores, on average, branded long-term rental apartments account for less than 5%." Ma Yu said, "If you refer to international experience, the B2C housing market occupies The rate is above 30% on average, about 60% in New York, and about 90% in Tokyo, so long-term apartment rental is the general trend in the future.”

Ren Tianxing was sitting on the left of Ma Yu, Zhang Yuchen was sitting on the right, Yan Li was the host of the meeting, and the face next to him was very familiar to Ren Tianxing, especially Guan Hongwei, Guan Sha's father.

There are five or six investors in the large conference room with bright lights, including more than a dozen LP investors connected remotely on Ren Tianxing's computer screen.

This meeting was convened by Yan Li temporarily, and there were some other Jin Quan colleagues sitting in the conference room. They wore the same badges as Ren Tianxing around their necks. strangeness.

Xiao Jie did not attend today's meeting. Ren Tianxing heard that he is currently out of town to follow up on the acquisition of Letian Rent a House.

Without Xiao Jie, Ren Tianxing felt inexplicably uneasy, as if something would happen.

"In addition to the reason for the graduation season in July and August, the previous rent increase was also related to the supply gap." Ma Yu continued, "The current per capita living room in Qingyang is only 0.3, which is currently the lowest in the country. Even Beijing is higher than ours, Beijing is 0.34, which means that the houses on the market in Qingyang are not enough to rent, but the vacancy rate of houses in Qingyang has reached millions of units.”

"Taxes should be increased on vacant houses." At this time, someone said, "They are all houses of speculators!"

"That's right, tax cuts for renters and tax increases for hoarders." Someone responded.

"So in the future, if long-term rental apartments cannot develop, the market will return to the state of C2C and black second landlords a few years ago." Ma Yu continued, "This is by no means a good thing for the majority of tenants. In the past, everyone did not know how to do this industry and how to expand profit margins. It used to be early in the morning, but now it is morning. The sun has just risen, and the strong demand is there. If we don’t do it, the future There must be someone to do it, and it must be done again, Yanzigu Apartment has found a practical and effective method for this, I hope all investors can have confidence in it.”

Guan Hongwei has been listening quietly. He is deeply convinced of Ma Yu's "morning". Recently, the financing channels of real estate companies are limited, and it is very difficult to borrow money. Therefore, developers like Guan Hong Real Estate are demanding fast Returns, and long-term rental apartments strictly belong to the "sub-real estate industry", so this round of real estate rectification is just good for the long-term rental housing market.

Later, Ma Yu asked Zhang Yuchen to do a brief industry review.

From the uproar caused by the previous long-term rental apartment, the successive thunderstorms, to the reform and innovation of Yanzigu Apartment, Zhang Yuchen summarized everything in place. At the end of the speech, Zhang Yuchen also emphasized the future development direction of the long-term rental apartment And the potential value of Yanzigu apartment.

Hearing this, some investors questioned the business model of Yanzigu Apartment.

"Now partitions are used, one room is divided into three or four rooms and then divided into groups, what N+1, N+N, isn't the country not allowed to do it, but you said that there is such a situation in the Yanzigu Apartment, what about this? solve?"

The so-called "N+1" or "N+N" refers to renovating and dividing a house into two, three or even four rooms. Although the rent of a single room has dropped under this model, the total rent of the whole house Often there is a 30% to 50% improvement.

After hearing this, Ma Yu looked at Ren Tianxing, motioning for him to answer this question.

Ren Tianxing's palms broke out in a cold sweat.

He was a little jealous just now that Zhang Yuchen could talk on and on for so long, now it was his turn to allow Tianxing to shine, and he was a little at a loss as to what to do.

However, Ma Yu's move moved Ren Tianxing a little, which proved that Ma Yu was not partial, and that opportunities were given equally on important occasions.

Ren Tianxing made up his mind and replied calmly: "The previous policy of not allowing partitions was actually limited to Beijing. When Yanzigu Apartment first started, there were indeed "N+1" situations in some houses, but they were all in Qingyang. It violates the policies and regulations of Qingyang, and Yanzigu did not change the original structure of the house, but only made soft partitions. Of course, Yanzigu has also noticed this, so currently their newly developed houses do not have partitions. Rent out the whole house, and then rent it out. For example, three bedrooms and two halls, one set comes in at 3000, and each room is rented out in groups at 1800. Like this, there is no partition, which is in line with the regulations. It turns out that the dozens of sets are not in number. There are too many soft partitions, and the company also decided to clear them slowly at the last meeting, and earn less, because the number of sets is small, so this has little impact on the company's overall profit."

Seeing the investors present nodding frequently, Ren Tianxing knew that he had passed this question.

Ren Tianxing was very clear about the purpose of this meeting. The top leader Yan Li wanted to do ideological work for some major investors in the fund before the formal investor dinner where Hongfeng's due payment was due, so as to win their support.

Guan Hongwei, who had been silent all this time, suddenly asked Ren Tianxing, "You are Xiao Ren, right? We have seen Ye Taodu's project before."

Guan Hongwei's smile made Ren Tianxing a little confused, thinking that this boss chats with him on WeChat almost every week, why is he pretending not to be familiar with him now...

"Yes, Mr. Guan, my name is Ren Tianxing." Ren Tianxing acted in a daze.

"Xiao Ren, what do you think should be done for long-term rental apartments in the future? Except what I just summarized."

Guan Hongwei hinted that the ins and outs that Zhang Yuchen said before should not be repeated.

Ren Tianxing thought that this question should be asked to the founder of the company, how did it fall on his own head?
"As the post-investment management department, you have given a lot of help to the company's innovation. I would like to hear your views on other key points in the future development of Yanzigu Apartment." Guan Hongwei added.

Ma Yu just wanted to speak, but seeing Guan Hongwei's eyes kept looking at Ren Tianxing, he kept silent very tactfully.

"My understanding is that for long-term rental apartments to develop well in the future, first of all, the cost of acquiring customers should be low. For example, there is no need to hire a lot of salesmen to attract customers. Now most of the customers of Yanzigu Apartment come to the door by themselves. The brand advertised in the early video This piece is well done; secondly..."

Ren Tianxing racked his brains to think, "Secondly, there is no need to face short-term redemption pressure. Now Yanzi Valley basically uses equity financing, and Jingyi's debt financing period is also five years, so the short-term debt repayment pressure is very small. Those who continue to maintain, unless it is absolutely necessary, do not borrow short-term debts."

"Is there anything else?" Guan Hongwei still smiled.

"The other thing is that the scale should be as large as possible. Only when the market is bigger can we have the right to formulate the rules of the game. Of course, I am not talking about monopoly, I am talking about increasing market share as much as possible. Only in this way can the company have control over the market. It is also one of the moats..." Ren Tianxing's tongue was a little numb when he said this, but he saw Guan Hongwei's expression was still unfinished, and thought he had to say something, but his mind was blank, what else could he squeeze out?

At this moment, Ren Tianxing saw that the badge on the neck of a colleague sitting across from him was "Risk Control Department", so he hurriedly said, "One more thing, I think it is also very important, is to do a good job in risk control , The cash flow must not be interrupted, and the long-term rental apartments that have collapsed before, without exception, all have interrupted cash flow, so risk control is the top priority in the future expansion period.”

After Ren Tianxing finished answering, Guan Hongwei nodded and looked at Yan Li, "You have a lot of talents in Jinquan, you shouldn't ask him this question, but he answered it very well."

Yan Li cast his eyes on Ren Tianxing, and said with a smile, "Do you think Mr. Guan should ask you the question?"

"Should." Ren Tianxing stood up directly, although he thought it should not be done at all just now.

"Why should it be?" Yan Li asked.

"Because..." Ren Tianxing tightened his grip on his trouser legs, "Because we venture capitalists are the entrepreneurs behind the entrepreneurs, so as investors, we must have entrepreneurial thinking."

"Hahahaha! Good!" Guan Hongwei said.

(End of this chapter)