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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
Losing our homes lah!
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| Don't play, play. Not worth it hor. |
EcoHouse Group placed on the IAL.
Bloggy Award
9 comments:
URA says rental of residential properties in sg only allowed for at least 6 months.
Includes private housing.
Hi pf,
Yup, that is my understanding too.
Good news for investors in FEHT and CDL-HT. ;p
No AirBnB here ..., so not happening.
Hi Lizardo,
I know there are AirBnB wannabes in Singapore though. -.-"
I used airbnb for accommodation in paris, new york, Barcelona, even Ubud....love it.
I wonder would they get their flats ?
if not, what does Hdb do with it? sale of balance flats ?
Next in the crosshairs is Uber. Watch for incoming regulations.
I read that in Paris, authorities are frowning on such short term rentals, as it results in driving up rents
For Parisians
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
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