I‘ve always wanted to rent out my Condo via Airbnb. You know, make some quick bucks using the apartment since I’ll be living in my HDB flat anyway.
Once I have the money to buy a condo, that is (silent sobbing).
However, my dreams were shattered, burnt, and ran over by a truck when it was announced that leasing units for short stays will be illegal in Singapore.
For the first time in Singapore, two men were charged with leasing homes for short-term stays. They have allegedly rented out four condominium units for short term stay via Airbnb.
In Singapore, the minimum rental period for private properties is 3 months. Hence, short term renting platforms like Airbnb are not allowed. (Not I say one, URA say one)
Property agents Terence Tan En Wei (35) and Yao Songliang (34), each faced four charges under the Planning Act.
They are being accused of renting out the units of D’leedon Condominium, located at Farrer Road. If convicted, they could be fined up to $200,000 per charge!
Holy cow. Now I’m kinda glad that I dropped my idea of renting out my condo (future) illegally!
Apparently, rental for short term stays via platforms like Airbnb have been drawing objections from some homeowners. (Safety concerns, public nuisance etc)
Well, I guess they weren’t wrong. If anyone can come and go as they wish, what’s the point of having security guards for your condominium, right?
“We will not hesitate to prosecute recalcitrant offenders and those who blatantly disregard the regulations,” said a spokesperson from URA.
Legal actions will be taken against parties involved in the short term rental of properties. In other words, home owners, property agents and even tenants(yikes!) may be charged for the offence!
Sigh. Well, looking on the bright side, National Development Minister Lawrence Wong said that the authorities are considering the creation of a new category of private properties where short term rentals are allowed.
I have no idea how they’re going to do it, but let’s wait and see for now.
By the time I am able to afford a condo, I really hope we’ll be able to do short term rentals.
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This article was first published on goodyfeed.com
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