AirBNB is one of the many ways to travel and stay comfortably in a cozy neighbourhood, minus the exorbitant hotel fees you usually end up forking.

When you’re travelling, it’s seems like a very feasible option. But what about when you’re in Singapore and want to rent out your rooms?

I mean, can or cannot?

Well, for starters, earlier this year, a law was passed that made it illegal for home owners to rent out their rooms or whole apartments to visitors for a period that’s less than 6 months.

The only way to get allowance? Must get permission from Urban Redevelopment Authority (URA) le.

Thankfully, URA did study the condition of creating a new category to allow short-term rentals.

The study did come with some fruits, but it depends on how you look at it.

Why?

Well, last time, the minimum rental period for private homes was half a year. Now, it’s been shortened to just 3 months.

SO, if you’re able to secure an Airbnb tenant who wants to stay at your place for 3 months at one ago, you’re one lucky bugger!

It might seem like a tiny yet positive acknowledgement from the government, as they see that there’s a growing demand for short-term leases. It you ask me ah, I’d say it’s about time.

I mean, you can now cash in on exchange and international students that come here to study and are looking for a place to shack up. Some of these exchange students just need a room for about 5 months max.

Then there’s the interns that come in to get work experience too for a short term.

For us homeowners, it’s money in our hands.

And it’s also a simpler solution than what was initially propositioned – a brand new class of private homes with a green light for short-term rentals. I mean, would properties owners of this class be able to sell their homes at a higher price tag, considering the possibility of short-term lease income?

Also, how would such a move effect the property market la?

Basically, the move to shorten the minimum rental tenure seems like a pretty sound one, and we’re glad that it’s the step taken by the government.

URA, however, is pretty clear on their stance. Singaporeans should not turn their houses into a backpacker’s paradise or hotel of sorts.

Here’s another reason why – tourists are allowed to be on our island for 30 to 90 days at most. It won’t affect the landlords’ ability to rent to travellers, but then again, who in his right mind would want to stay in the same house when you’re visiting Singapore for 3 solid months?

Looking at it from this perspective, 3 months are here to stay, and it could be very much high hopes to get an added discount on the rental tenure anytime soon.

For now, feel free to check the regulations and snag a tenant for 3 months!

If not, well, let’s just say that technically speaking, you can’t convert your nest into a hotel.

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This article was first published on goodyfeed.com

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Featured Image: airbnb.com.sg