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China rental biz drives second-home sales

Beijing-based Tujia cashes in on idle homes by renting them for short stay

Published Mon, Sep 15, 2014 · 04:09 AM
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[BEIJING] Wu Junhua had been allowing her investment, a furnished one-bedroom apartment in the lake city of Hangzhou, to sit empty for a year until she found a solution: China's version of Airbnb.com, known as Tujia.

Letting Tujia put up short-time travellers who otherwise would stay in a hotel, Ms Wu shares the income they generate while waiting for her 37-square-metre asset to appreciate. Her place can rent for around 260 yuan (S$58) a night, the starting price of nearby four-star lodgings listed as "most popular" on China's biggest online booking website, Ctrip.com, which also carries Tujia's listings.

"Now I have nothing to worry about, and I get paid," said Ms Wu, 59, a retired pharmacist, noting that Tujia also changes towels, arranges cleaning and has kept her apartment in the same condition as when she bo…

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