The Influencing Mechanism for Long-Term Apartment Rental Intention in Guangzhou: A Ground-Based Study Based on the Theory of Planned Behavior

Abstract

Long-term rental apartments as a new business form in the real estate market have become more and more popular with consumers and the real estate industry due to an increase in the floating urban population and changes in people's living concepts. It is thus important to provide some guarantees in the implementation of a housing policy for "rent and purchase simultaneously." In this paper, in-depth interviews were conducted with 21 tenants who had experience in long-term apartment rental in Guangzhou. The interview data were encoded level by level using grounded theory. Finally, based on the theory of planned behavior, a model for the influencing mechanism for long-term apartment rental intention in Guangzhou was constructed. The model includes three main categories: rental attitude, subjective norms, and perceptual behavior control with six subcategories. The results show that rental intention for long-term rental apartments in Guangzhou is influenced by rental attitude, subjective norms, and perceptual behavior control. Rental attitude is composed of endogenous attitudes and exogenous attitudes. In addition to the housing demand function, risk judgment, and additional interest, the internal degree of emotional demand and brand preference also affect intention to rent. Subjective norm is composed of directive norms and demonstrative norms, while an individual's cognition of rental policy and social media guidance are important components of directive norms. Perceptual behavior control is composed of self-efficacy and facilitation, while access conditions are an important part of facilitation. The government is an important body to promote the harmonious development of the long-term apartment rental market, and needs to cultivate professional rental institutions, innovate rental modes, and establish a long-term apartment rental price supervision mechanism. The government needs to issue corresponding rules and regulations, such as provide clearer and more convenient procedures, improve the supervision system, and protect the rights and interests of tenants. The government also needs to introduce corresponding preferential policies and determine access conditions. Operators of long-term rental apartments should not only meet the functional needs of tenants, but also pay attention to their additional needs. Furthermore, they should provide a variety of social activities. Based on the needs of different groups, the operators could develop apartments for blue-collar workers, family rental apartments, and so on. Based on the theory of planned behavior, this paper explores the influencing mechanism for long-term rental intention in Guangzhou. The study enriches the research of the theory of planned behavior in the field of rental housing, and provides a reference for the government to strengthen the management of the rental market. At the same time, it is helpful for enterprises to understand the needs and expectations of tenants. The study also provides additional information for enterprise management, product design, and brand promotion.

Keywords

• long-term rental apartment
• rent intention
• influencing mechanism
• grounded theory
• guangzhou