Short-term rentals in Singapore aren’t legal. But if it’s a long-enough stay, it is actually alright.
For instance, if you own a private apartment, the minimum rental period is 3 consecutive months (lowered from 6 months since June 2017). If you own a HDB flat, the minimum rental period for each tenant is 6 months.
Recently, two Singaporean Airbnb hosts were fined a total of $60,000 each for the unauthorised short-term letting of four condo units. This is the first of such cases under Singapore’s short-term property letting rules, and is seen as a deterrent move.
Simply put, if you were to let out a property for the short term illegally, through Airbnb for instance, you are risking yourself to heavy penalties. Align your rental periods with the regulations, please! It doesn’t seem worth it to make quick cash this way.
Why can’t we rent out for the short-term?
Though you’re generating a profit, we know of many Singaporeans who are against short-term rentals. Just think about it – these short-term stays will disrupt the living environment of others around you. Noise by happy holidaymakers, for instance. These tenants may also pose security concerns for neighbours and their children. These, we think, are some concerns Singaporeans have.
To appease the concerns of the Singapore government, Airbnb shared that it is willing to not list public housing on its site. In fact, measures can be put in place to ensure that all hosts comply. For instance, Chicago has a “three strikes” policy, which bars hosts who repeatedly break the rules, while in New Orleans, no accommodation in the oldest section of its city (i.e. the French Quarter) can be listed on its site.
Let’s see how this dialogue works out, shall we? Don’t just leave it to the two parties though. If you have views, you are encouraged to participate in URA’s upcoming public consultation on short-term letting.
P.S.: The irony
Despite these concerns, Airbnb has a swanky new office is in Singapore! Though we aren’t a big market for Airbnb, we’ve been chosen as the headquarters for Asia Pacific. Feast your eyes away!
As the saying goes, if you can’t beat ’em, join ’em. What are you waiting for? Get your resumes out already!
Like this post? Join @SGDaybook on Telegram today!