Ziroom: Creating Quality Rental Living

Case Solution

Chunling Yu, Chuanjiang Mao
Tsinghua University ()

Beijing has a huge used housing rental market, while tenants often don’t get satisfactory properties. Since real estate brokerage firms are only involved in processing, tenants’ demands for quality, equipment, and service of real estate are only insufficiently taken into account. For this reason, traditional forms of leasing are clearly outdated. In this context, Homelink started the Ziroom business in May 2011 and began its new exploration in the rental industry. Under the leadership of Mr. Xiong Lin, General Manager of Ziroom, who has extensive experience in this field, Ziroom created Ziroom Friendly Home and Ziroom Apartment under the same Ziroom brand and operated them in B2C mode. Ziroom owns the properties and processes them into standard products before they are sold online at Ziroom.com and various follow-up services are offered during the rental period. Ziroom focuses on products, services and O2O and covers all the important links in the tenant’s rental experience. By the end of 2013, Ziroom had collected a total of more than 20,000 objects, including more than 60,000 Ziroom Friendly Home rooms and 6 separate buildings with Ziroom apartments, spread across more than 2,000 properties in Beijing. With a cumulative occupancy rate of 90% and an extension rate of over 60%, Ziroom offers rental services for 10 million Ziroomers. Xiong Lin is currently facing a number of challenges. For example, Ziroom’s rent is a little bit high for a portion of young people in need of shared leasing; the future development of Ziroom may be affected by the changes in rents, real estate purchase restrictions, and the increase of Ziroom properties. Ziroom aims to establish a superlarge enterprise based on O2O platforms that integrate asset management, housing and extension services, as well as information and data services, managing tens of thousands of properties in China. Today, Ziroom is continuing its entrepreneurial efforts.

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