{"id":9997,"date":"2020-11-23T15:44:15","date_gmt":"2020-11-23T08:44:15","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9997"},"modified":"2021-06-04T15:47:49","modified_gmt":"2021-06-04T08:47:49","slug":"danke-chinese-apartment-rental-startup-fumes-evicted-tenants","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/","title":{"rendered":"Danke, Chinese apartment rental startup, fumes evicted tenants"},"content":{"rendered":"

Countless tenants were forced out of their homes as Danke, the New York-listed startup, failed to pay rents to landlords<\/p>\n

\"\"
Hi-rise buildings (skyscrapers) in Shanghai, China. AlexeyRezvykh\/Shutterstock<\/figcaption><\/figure>\n

Distress on financial risks of China\u2019s rapidly growing online home rental industry has been triggered by Danke, one of the leading home rental platforms. Tenants were evicted from their flats in mainland China, as the company failed to pay landlords the upfront instalments renters have borrowed from banks. Danke disproves of insolvency, despite shares spiking up following rumours of a buyout by competitor Xiangyu.<\/p>\n

According to South China Morning Post<\/a>, hundreds of fumed landlords and tenants rounded up at Danke\u2019s Hangzhou office during the past weekend to protest and demand compensation and overdues. The Beijing and Shenzhen offices also experienced furious crowds as seen through photos on social media and reports by the local media.<\/p>\n

Landlords have terminated their Danke contracts, while tenants are homeless and still need to repay their rental loans to WeBank, Danke\u2019s bank partner.<\/p>\n

More: Expansion of manufacturing industry in China indicates strong economic recovery<\/a><\/strong><\/p>\n

The New York-listed company also known as Phoenix Tree Holdings, operates alike WeWork, but instead of office spaces, Danke operate residential properties. The firm rents out apartments long-term, then refurbishes and divides them into smaller spaces that tenants can lease. Based on its most recent quarterly report, the company has employed more than 415,000 apartments in 13 cities across China, but has yet to make any money.<\/p>\n

Subsequent to Thepaper.cn\u2019s report that rival Xiangyu is in negotiation to acquire Danke, Phoenix Tree\u2019s shares have soared by almost a third. Stocks have also spiked to USD2.4 on Tuesday, a 75 percent increase. However, Danke stated on its Weibo account that it wouldn\u2019t \u201crunaway\u201d and hasn\u2019t gone bankrupt.<\/p>\n

The online home rental industry has been under scrutiny after this messy incident.<\/p>\n

Chief analyst at 58 Anjuke Real Estate Research Institute in Shanghai, Zhang Bo said, \u201cthe online rental platform industry has developed pretty widely over the past five years. The most important thing now is to strengthen the regulation of the sector.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Countless tenants were forced out of their homes as Danke, the New York-listed startup, failed to pay rents to landlords<\/p>\n","protected":false},"author":9,"featured_media":20826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[137,638],"class_list":["post-9997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-china","tag-real-estate","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"\nDanke, Chinese apartment rental startup, fumes evicted tenants | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Danke, Chinese apartment rental startup, fumes evicted tenants | Asia Property Awards\" \/>\n<meta property=\"og:description\" content=\"Countless tenants were forced out of their homes as Danke, the New York-listed startup, failed to pay rents to landlords\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/\" \/>\n<meta property=\"og:site_name\" content=\"Asia Property Awards\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/asiapropertyawards\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-23T08:44:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-04T08:47:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1572385537.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gynen Kyra Tirazona Toriano\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:site\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gynen Kyra Tirazona Toriano\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/\"},\"author\":{\"name\":\"Gynen Kyra Tirazona Toriano\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/694949ea9cae1c04dfdbdcc3680a2a23\"},\"headline\":\"Danke, Chinese apartment rental startup, fumes evicted tenants\",\"datePublished\":\"2020-11-23T08:44:15+00:00\",\"dateModified\":\"2021-06-04T08:47:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/\"},\"wordCount\":366,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1572385537.jpg\",\"keywords\":[\"china\",\"real estate\"],\"articleSection\":[\"News\",\"Property Report\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/\",\"name\":\"Danke, Chinese apartment rental startup, fumes evicted tenants | Asia Property Awards\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1572385537.jpg\",\"datePublished\":\"2020-11-23T08:44:15+00:00\",\"dateModified\":\"2021-06-04T08:47:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1572385537.jpg\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1572385537.jpg\",\"width\":1000,\"height\":667},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Danke, Chinese apartment rental startup, fumes evicted tenants\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"name\":\"Asia Property Awards\",\"description\":\"PropertyGuru Asia Property Awards\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\",\"name\":\"Asia Property Awards\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"width\":1920,\"height\":1080,\"caption\":\"Asia Property Awards\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/asiapropertyawards\",\"https:\\\/\\\/x.com\\\/AsiaPropAwards\",\"https:\\\/\\\/www.instagram.com\\\/asiapropertyawards\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/showcase\\\/asia-property-awards\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCCMEFMU-KW5dEKfb5dPTL9Q\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/694949ea9cae1c04dfdbdcc3680a2a23\",\"name\":\"Gynen Kyra Tirazona Toriano\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/author\\\/gynen\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Danke, Chinese apartment rental startup, fumes evicted tenants | Asia Property Awards","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/","og_locale":"en_US","og_type":"article","og_title":"Danke, Chinese apartment rental startup, fumes evicted tenants | Asia Property Awards","og_description":"Countless tenants were forced out of their homes as Danke, the New York-listed startup, failed to pay rents to landlords","og_url":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/","og_site_name":"Asia Property Awards","article_publisher":"https:\/\/www.facebook.com\/asiapropertyawards","article_published_time":"2020-11-23T08:44:15+00:00","article_modified_time":"2021-06-04T08:47:49+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1572385537.jpg","type":"image\/jpeg"}],"author":"Gynen Kyra Tirazona Toriano","twitter_card":"summary_large_image","twitter_creator":"@AsiaPropAwards","twitter_site":"@AsiaPropAwards","twitter_misc":{"Written by":"Gynen Kyra Tirazona Toriano","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#article","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/"},"author":{"name":"Gynen Kyra Tirazona Toriano","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/694949ea9cae1c04dfdbdcc3680a2a23"},"headline":"Danke, Chinese apartment rental startup, fumes evicted tenants","datePublished":"2020-11-23T08:44:15+00:00","dateModified":"2021-06-04T08:47:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/"},"wordCount":366,"commentCount":0,"publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1572385537.jpg","keywords":["china","real estate"],"articleSection":["News","Property Report"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/","url":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/","name":"Danke, Chinese apartment rental startup, fumes evicted tenants | Asia Property Awards","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#primaryimage"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1572385537.jpg","datePublished":"2020-11-23T08:44:15+00:00","dateModified":"2021-06-04T08:47:49+00:00","breadcrumb":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#primaryimage","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1572385537.jpg","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1572385537.jpg","width":1000,"height":667},{"@type":"BreadcrumbList","@id":"https:\/\/www.asiapropertyawards.com\/en\/danke-chinese-apartment-rental-startup-fumes-evicted-tenants\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.asiapropertyawards.com\/en\/"},{"@type":"ListItem","position":2,"name":"Danke, Chinese apartment rental startup, fumes evicted tenants"}]},{"@type":"WebSite","@id":"https:\/\/www.asiapropertyawards.com\/en\/#website","url":"https:\/\/www.asiapropertyawards.com\/en\/","name":"Asia Property Awards","description":"PropertyGuru Asia Property Awards","publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.asiapropertyawards.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization","name":"Asia Property Awards","url":"https:\/\/www.asiapropertyawards.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","width":1920,"height":1080,"caption":"Asia Property Awards"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/asiapropertyawards","https:\/\/x.com\/AsiaPropAwards","https:\/\/www.instagram.com\/asiapropertyawards\/","https:\/\/www.linkedin.com\/showcase\/asia-property-awards","https:\/\/www.youtube.com\/channel\/UCCMEFMU-KW5dEKfb5dPTL9Q"]},{"@type":"Person","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/694949ea9cae1c04dfdbdcc3680a2a23","name":"Gynen Kyra Tirazona Toriano","url":"https:\/\/www.asiapropertyawards.com\/en\/author\/gynen\/"}]}},"_links":{"self":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/9997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/comments?post=9997"}],"version-history":[{"count":0,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/9997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media\/20826"}],"wp:attachment":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media?parent=9997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/categories?post=9997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/tags?post=9997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}