Beijing introduced new regulations to encourage the renovation of rental housing industry: short-term impact on rent is limited.

Recently, the Beijing Municipal Commission of Housing and Urban-Rural Development and the National Development and Reform Commission and other four departments jointly issued the Notice on Further Promoting Non-residential Reconstruction of Dormitory-type Rental Housing (hereinafter referred to as the Notice), further promoting non-residential reconstruction of dormitory-type rental housing, encouraging the mixed compatibility of reconstruction projects, and promoting industrial integration and the development of new formats. While strengthening the supervision and management of the reconstruction of dormitory-type rental housing projects from non-residential buildings, relevant support policies are also mentioned.

In addition, after the promulgation of the Notice, hot topics such as whether there is a new way out for commercial properties in Beijing and whether rents in the rental market will fluctuate have attracted much attention in the industry.

Encourage "rent-free exchange" and format compatibility.

Rebuilding non-residential buildings (hereinafter referred to as "non-rental housing") refers to the existing stock buildings with a certain scale, which are used for non-residential types such as offices, businesses, hotels, factories, warehouses, etc., and are renovated by the implementers in accordance with the relevant requirements, and after passing the acceptance of the relevant government departments, they will face the employees of surrounding units or engage in basic business.

In recent years, the phenomenon of job-residence imbalance in some areas of Beijing has gradually become prominent. With the change of the strategic spatial layout of the city, Beijing Yizhuang, Huairou Science City, Tongzhou Sub-center and other regions have put forward the demand of job-residence balance. According to the circular, the transformation of non-residential buildings into dormitory-type rental housing should focus on the periphery of key functional areas such as business districts, science parks, industrial parks and transportation hubs, as well as the periphery of transportation hubs within a reasonable commuting circle. At the same time, according to the surrounding demand, the same building is allowed to be converted into dormitory-type rental housing and apartment-type rental housing in different areas, of which the proportion of dormitory-type rental housing construction area is not less than 50%.

Specifically, the "Notice" mentioned that the dormitory-type rental housing renovation project is encouraged to be mixed and compatible, and the same project can be compatible with multiple functions, and can be used for various purposes such as rental housing, R&D, office and business, so as to promote industrial integration and the development of new formats. Development. In terms of supervision and management, the "Notice" included the non-residential renovation of dormitory-type rental housing projects into the scope of safety and quality supervision of construction projects, requiring all districts to strengthen operational supervision and deal with illegal acts.

Effectively crack the separation of occupation and residence

In the eyes of the industry, the release of this new regulation will alleviate the current situation of job-housing imbalance in Beijing to a certain extent. Huang Hui, a senior analyst of RealData, told the reporter of China Consumer News that, generally speaking, the transformation of non-residential housing into rental housing generally faces problems such as vague scope of transformation, too many restrictions on construction standards, complicated audit procedures and lack of process guidance. In addition to strengthening supervision, prohibiting rental and sale, providing regular financial support, and implementing policy support such as water, electricity and electricity for the people, there are still many highlights in this Notice.

Specifically, first, clearly define the transformation of non-residential buildings into dormitory-type rental housing, and delineate the clear scope and boundary of "industry and commerce take rent"; Secondly, the rights and interests of the renovation project during the operation period should be compensated when it is collected, which ensures the operation rights and interests of the project; Third, emphasize the site selection requirements and focus on solving the outstanding contradiction of job-residence balance; Fourth, the project is allowed to break through the current construction specifications such as structure and fire protection under the condition of ensuring safety, and there are standards to follow for project transformation; The fifth is to refine the change procedure and set up a joint meeting, which simplifies the change procedure and shortens the audit cycle; Sixth, it is allowed to rebuild blue-collar and white-collar apartments in the same building, which can better meet the needs of different types of tenants around. "This document has made targeted constraints, norms and breakthroughs on the main difficulties in the landing process of the current' non-leased sublease' project, which is conducive to revitalizing idle resources and better alleviating the problem of job-housing balance in cities." Huang Hui said.

It is understood that in recent years, in addition to Beijing, some cities have also introduced policies to encourage non-residential houses to be converted into houses.

In 20 17, Nanjing issued the "Nanjing Housing Leasing Pilot Work Plan", which mainly encouraged state-owned enterprises to rebuild their factories and commercial office buildings into leased buildings, and state-owned enterprises to rebuild non-residential buildings, so as to ensure the safety of living and improve the efficiency of this part of the property. In the same year, Guangzhou issued the "Work Plan for Accelerating the Development of Housing Leasing Market" to encourage market-oriented leasing enterprises to participate in the renovation of old residential areas, villages in cities and factories, and to alleviate the contradiction of market leasing.

According to the analysis of Ba Le Rabbit Industry Research Institute, Beijing's leasing policy has always been based on regulation and control. The promulgation of this notice shows that Beijing has begun to solve the problems in the rental market in a targeted manner, which is a positive attempt to divide the land between people. Especially for first-and second-tier cities, it is of great significance to help blue-collar workers and huge "long-tailed people" solve the problem of expensive rental in the future.

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Chen Xiao, an analyst at Zhuge Housing Search Data Research Center, told the reporter of China Consumer News that commercial renovation projects are facing certain practical problems. There are technical difficulties in the transformation of commercial office. Because the configuration of hydropower facilities between commercial and residential buildings is not exactly the same, it is more difficult to change the hydropower after the construction is completed. In addition, the decoration cost is not low, the rental rate of return is not high, and the time for returning funds is long, so developers are more inclined to sell. However, if the location and supporting conditions are not good, it will be more difficult to rent after renovation. "On the one hand, commercial renovation projects need policy support in the early stage of renovation, and on the other hand, corresponding supervision and standardization policies are needed in the later stage." Chen Xiao believes that the Notice has aroused discussion in the industry on the way out of Beijing stock business.

Guo Yi, chief analyst of Heshuo Real Estate Agency, also pointed out that the positive signal of this policy is that city managers attach importance to some problems existing in Beijing's commercial market and are actively looking for solutions.

This policy in Beijing not only puts forward that "eligible renovation projects can apply for the use of central financial subsidy funds", but also puts forward that "dormitory-type rental housing renovation projects should be included in the city's policy housing construction fund-raising plan, and the corresponding land should be treated as urban residential land management during the operation period, and the tenant should implement the residents' price with water, electricity, gas and heat".

It has little impact on rent in the short term.

"Non-rent reform" can expand the supply of rental housing in Beijing market to a certain extent, so is it possible to reduce the market rent level? A number of industry insiders interviewed by China Consumer News said that the new regulations have limited impact on the rental level of the rental market in the short term.

Chen Xiao pointed out that generally speaking, due to the limited number of commercial projects that meet the transformation, not all non-residential houses can be transformed into dormitory-type rental housing, and only those that meet the index conditions can apply for transformation, which limits the scale of transformation to a certain extent, and there will be no large-scale transformation products flooding into the market; Moreover, there are many difficulties in the implementation of the relevant transformation, and it is expected that the impact on the rent level will not be too great in the short term.

Then, for real estate development enterprises that hold non-residential buildings, how will the financial pressure during the holding period be alleviated?

Ying Daizhen, an analyst with Tongce Research Institute, believes that for developers who regularly hold houses, financing channels such as mortgage loans and commercial loans have been kept open, and enterprises can obtain financing in various ways to ease the financial pressure. He also said that developers who transform non-residential buildings into dormitory-type rental housing can share the financial pressure by developing other business departments. "I believe that there will be further supporting policies in the future."

As a representative enterprise of Beijing's decentralized long-term rental apartment market, the relevant person in charge believes that under the new regulation of "no rent change", refined operation management is extremely important, which is not only an effective measure for enterprises to cope with market risks, but also the basis for optimizing customers' living experience.