The leading Chinese real estate agency 5i5j Group has formed a partnership with Haier Financial Holdings for long-term rental business on Monday.

Kunming Sinobright Group Co, the parent company of 5i5j Group, has signed a strategic cooperation agreement with Haier, one of the country's leading home appliance manufacturers, marking the latest move in the country's heated long-term rental market.

In the future, the two sides will work together on the sales and rentals of smart home applicants and financial services related to the long-term rentals. They also aimed to develop an operation system to combine smart home applicants within the apartment.

This collaboration is aimed at providing a better experience to tenants in the era of the internet of things.

5i5j's business covers 15 major cities in China - including Beijing, Shanghai, Hangzhou, Nanjing and Tianjin - with over 3,300 branches.

Xiangyu, the property asset management service provider owned by 5i5j, has been administering over 530,000 rooms in over 14 cities in China, with the number of tenants exceeding 5 million.