only answer 1 for Lianjia based on current info. JD Finance ("baitiao" for rent) & actual tenants. Note that tenants will have to sign 1yr LOAN contract to JDF because of the monopoly, JDF will release 1yr of rent to LJ. LJ do 3mon rent prepayment to real estate owner. (cont)https://twitter.com/HayekF1/status/1030787576737742848 …
so LJ got the additional money flow (9mon rent) in this way for further expand & monopoly. Note: this is not ABS. if LJ decides to abscond with money, tenants lose residency while still have to pay the remaining loan to remain good credit, and actual owner will get no rent.