乐乎于洪胤：长租公寓激活存量资产新实践

Core Viewpoint - The article discusses the transformation of the Chinese long-term rental apartment industry from a capital-driven model to one focused on asset management capabilities, emphasizing the importance of activating existing assets through innovative operational mechanisms [3][5][14]. Industry Development Stages - The long-term rental apartment industry in China has undergone three phases: the "capital desert" period before 2014, the "capital influx and retreat" period from 2014 to 2021, and the current phase of regulated development driven by policies supporting affordable rental housing since 2021 [3]. - The industry is now in a new stage characterized by comprehensive asset management capabilities across the entire investment and operation chain [3]. Value Co-creation Mechanism - The company has developed a "joint investment + guaranteed profit-sharing" dynamic cooperation mechanism that aligns the long-term interests of asset owners and operators, replacing traditional fixed lease agreements [5]. - This mechanism addresses the concerns of asset owners regarding insufficient returns and operators' fears of rigid rental pressures, achieving a stable average occupancy rate of over 95% in flagship projects [5]. Asset Operation Models - The company offers three service models tailored to different asset types: - Light asset model (management output) for projects with existing hardware conditions [8]. - Medium asset model (lease + profit-sharing) where the company invests in renovations and shares operational profits with owners [8]. - Heavy asset model (acquisition/joint venture) for acquiring or jointly operating quality assets, ensuring full-cycle management [9]. Targeted Asset Selection - Successful activation of existing assets begins with precise asset selection, focusing on value areas in Beijing that are driven by industry and subway access [12]. - The company has established clear selection criteria, including clear ownership, a minimum lease term of 10 years, proximity to subway stations, and good property conditions [12]. Collaboration with State-owned Enterprises - The company invites collaboration with state-owned enterprises to explore new paths and models for activating existing assets, highlighting its comprehensive service capabilities across market research, investment positioning, project management, leasing operations, and post-investment management [14]. - The mission is to ensure that every square meter generates value and every room becomes a container for a better life, contributing professional strength to the preservation and appreciation of state-owned assets [14][16].