Property News · November 18, 2020

Evicted tenants, unpaid landlords furious at cash-strapped, New York-listed Chinese home rental platform Danke


The evictions of tenants from flats in mainland China leased by one of the country’s biggest online home rental platforms has sparked renewed concerns about financial risks in the highly leveraged, fast-growing sector.New York-listed Phoenix Tree Holdings, commonly known as Danke, having taken upfront payments from tenants who had borrowed the money from banks, then failed to pay the landlords it was renting the properties from, according to furious tenants and landlords who gathered to protest…

Source : South China Morning Post
Read more…Evicted tenants, unpaid landlords furious at cash-strapped, New York-listed Chinese home rental platform Danke