When protesters besieged the Beijing headquarters of an apartment rental company in a rare show of public outrage last week, it shook one of China’s fastest growing and most highly leveraged industries to the core.
The dozens of landlords, tenants, contractors and cleaners gathered outside Danke’s offices alleged it broke lease contracts and defaulted on payments. Such claims are becoming widespread across a sector that manages up to half of the Chinese capital’s rental homes.
“Pay back my hard-earned money,” read one banner carried by the protesters outside Danke’s offices in the centre of the city.
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