AIRbnb

Airbnb (Air bed and breakfast) is not a new concept,  started as early as 2008, relatively cheaper than staying in a hotel, however, there are pros and cons, also there is an age limit, and a service charge of 3% above another 6-12% (author has yet to experience it, YWCA and a home concept hostel, in Europe and Taipei, many years ago , was as far as she had tasted travelling on a shoe string budget)

In Singapore , Airbnb short term stays , has not been fully regulated, and homeowners and landlords needs to be aware, otherwise flouting them might get them in trouble 

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Today Airbnb made headlines in the media, an ongoing point of conversation and concern for homeowners and landlords, as well as for condo management corporations, on rentals on short term basis, some key highlights captured:

Proposed home-stay rules set the bar high for owners (ST News Analysis – Top of the News )
Key Proposal @ay A Glance
* Home owners with at lease 80% of the condominium’s share value must agree to allow short-term stays
* Their approval is valid for a 2-year period that must be renewed
* A unit can be rented for up to 90 days a year
* Owners must register with the URA before listing their homes for such stays. After getting approval , they must give the URA the personal particulars of their guests for each stay. Such homes must have equipment like fire alarms.
* Home sharing websites must be licensed and ensure only registered homes are listed for rent, and reject bookings wen the 90 day limit exceeds
* Only condos are likely to be approved, HDB flats are still subject to a minimum stay of 6 months while short term stays for landed housing are likely to be rejected as they might cause disturbances to the neighbourhood

URA Seeks Feedback On Proposed Rules On Short-Term Stays
(source: Property guru)

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For landlords and tenants to be aware in the light of the above

Avoid a Dispute with Your Landlord: 5 Things Tenants in Singapore Should Know They Are Responsible For 
(source: Edge Prop)

 

For other information on new home sales and other investment projects, please Whatsapp/Call Gladys Tan @ +65 9646076 New Condo Launch Singapore