Sponsored Links

To retire by age 45, start with a plan.

"Is early retirement the right financial choice?" Jim Ellis discusses long-term financial growth strategies. I have blogged a...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.

Archives

"E-book" by AK

Second "e-book".

Another free "e-book".

Pageviews since Dec'09

FOLLOW AK ON FACEBOOK.

Recent Comments

ASSI's Guest bloggers

Worse than losing money to XXXXX listed on the IAL.

Tuesday, August 12, 2014

Thinking of renting out your spare rooms at home to make some extra money?

Well, make sure you don't rent them to tourists!


Earlier this year, two home-owners had their flats confiscated by the Housing and Development Board (HDB) because they had broken public-housing rules by renting their units to tourists.
Source: Channel NewsAsia

What is worse than losing money to scams investments which are listed on the IAL?

Losing our homes lah!


Don't play, play. Not worth it hor.
Related post:
EcoHouse Group placed on the IAL.

9 comments:

pf said...

URA says rental of residential properties in sg only allowed for at least 6 months.

Includes private housing.

AK71 said...

Hi pf,

Yup, that is my understanding too.

Good news for investors in FEHT and CDL-HT. ;p

Lizardo said...

No AirBnB here ..., so not happening.

AK71 said...

Hi Lizardo,

I know there are AirBnB wannabes in Singapore though. -.-"

pf said...

I used airbnb for accommodation in paris, new york, Barcelona, even Ubud....love it.

BP said...

I wonder would they get their flats ?
if not, what does Hdb do with it? sale of balance flats ?

E H said...

Next in the crosshairs is Uber. Watch for incoming regulations.

Ana said...

I read that in Paris, authorities are frowning on such short term rentals, as it results in driving up rents
For Parisians

AK71 said...

The Urban Redevelopment Authority (URA) has started a month-long public consultation to gather feedback on short-term rentals in private residential properties.

It will be reviewing the need to adjust current guidelines, which do not permit rentals shorter than six months. The URA added in a statement on Wednesday that it will also look into enhancing its enforcement powers, particularly in the area of investigation.

The consultation will include discussions with stakeholders as well as an online questionnaire, which can be viewed at http://ura.sg/shorttermstays. The public can submit their feedback from now till Feb 23.

National Development Minister Khaw Boon Wan in a blogpost on Wednesday said that while resources like cars can be shared via mobile apps such as Uber to benefit consumers, some things like homes are "harder to share".

He noted how online home-sharing portal Airbnb has been hotly debated in many cities, with New York City banning it, and Amsterdam and San Francisco considering tighter regulations.

"While it earns extra income for the home owners, their neighbours would not like to see their quiet neighbourhood becoming a hotel district," said Mr Khaw, adding that while some private home owners enjoy the international friendships and cultural exchanges, others are uncomfortable with the presence of transient visitors who use their common facilities.

"I myself think it not a good idea. We certainly do not allow such arrangements in HDB towns," he said.

Source:
http://www.straitstimes.com/news/singapore/housing/story/ura-begins-public-consultation-short-term-rentals-20150121

Monthly Popular Posts

 
 
Bloggy Award