What does Shanghai's long-term rental policy mean?

Legal analysis: Long-term rental generally refers to long-term rental of apartments. The state's long-term rent policy is first embodied in the land policy. The state encourages all localities to build rental housing through new land, build rental housing in new commercial housing projects, and increase the supply of rental housing through various forms.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 703 A lease contract is a contract in which the lessor delivers the lease item to the lessee for use and profit, and the lessee pays the rent.

Article 704 The contents of a lease contract generally include terms such as the name, quantity, purpose, lease term, rent, payment term and method, and maintenance of the lease item.

Article 705 The lease term shall not exceed 20 years. More than twenty years, the excess is invalid. At the expiration of the lease term, the parties may renew the lease contract; However, the agreed lease term shall not exceed twenty years from the date of renewal.