30 Apr '14, 6am

#GlobalREBubble #Singapore 'More Owners Renting Out Homes Illegally' via @SGPropertyGuru

Despite being illegal, more people have opened their homes for short-term rentals, as HDB investigated 184 such cases last year, compared to 106 cases from 2012, media reports said. Those who flout the rule may be fined or lose their flats if proven guilty of renting out their flats for less than six months. The six-month rule also applies to private homeowners, who can be jailed up to 12 months and fined up to $200,000. Last year, URA investigated around 2,100 unauthorised uses of private residences, an increase from 2011’s 1,300 cases. These cases include short-term leases, as well as those who illegally convert private homes into boarding houses or dormitories. Authorities explained that short-term rentals are prohibited because most neighbours prefer not live among “transient strangers” and it may cause a disturbance. However, this has not deterred others from advertis...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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