I`VE SIGNED A ONE-YEAR CONTRACT WITH MY TENANT. WHAT HAPPENS IF ONE OF US BACKS AWAY HALFWAY? It depends on the wording of the lease. „If you broke the contract and your tenant now has to rent a property at a higher cost, you have to make up for the difference and the costs involved when they change places,” says Kelvin. If your tenant saves prematurely, they must find a replacement tenant for the remaining tenancy period. If the new tenant pays less rent, your first tenant will have to cover the difference. PROPERTY: The rules governing the rental and subletting of your HDB apartment Tenants have no legal right to the rental agreement. Renting your HDB apartment or private property or even a spare room can generate an attractive passive income. With the new juicy seller stamp duty that aims to contain speculators, some private property owners may also prefer to sublet their property rather than return their property to avoid a breach in their profits. Group director Propnex Kelvin Fong and Marcia Lai, director of Faith Property Network, describe what you need to know before establishing this lease. Note: HDB refers to the „rental” of the entire apartment as the „subletting” of the entire HDB Guided Tour Apartment Rentals hdb Sub-rentals renovate the rules HOW I JETTE THE CHAMBRES? You can rent rooms if you have a three-bedroom or a larger one. For three-bedroom apartments, you can rent one room and for units of four rooms or more, two sublet rooms.
Although you do not need to obtain HDB authorization, you must record your client`s details within seven days of subletting a room. Other rules regarding your tenant`s property status and valid papers for foreigners continue to apply. „Note that your tenant must continue to pay a stamp duty for room rentals,” says Kelvin. As long as you earn rent to stay in your apartment, you must register the tenant. The aim is to ensure that the person can remain legally in Singapore and that the subletting quota for the neighbourhood is respected. AN AGENT TOLD ME THAT LONG AS I „LOCK ONE BEDROOM DOOR”, I CAN DO THE REST OF MY HDB UNIT SUBLET. IS THERE A TRUTH ABOUT THAT? „No. This is contrary to the hdb rules and they can confiscate your unit,” warns Marcia. The owner must physically reside in the house if he sublet his rooms, or if he meets the five-year MOP and other requirements, if he decides to rent the entire unit.
The owner, Ms. Liang XL, 34, feared she would lose her five-room hdB apartment when she received a warning letter from THE HDB for illegally subleting it. „I thought that as long as I keep a room for my occasional use, it was normal to rent the rest of the house! Fortunately, the HDB officer advised me to apply for admission because I had completed the MOP for five years, and left me with a stern warning. „The tenant must also pay attention to the rental agreement, including important terms such as ensuring that only registered occupants can remain on the site,” advises Kelvin. „You can`t sublet or divide the unit to rent to other people.” If the landlord decides to sell the apartment, the tenant must also authorize the arranged visits in advance. To stay on the right side of the law, you need to know what you can do and what you can`t do if you sublet HDB apartments. (FYI: the technical term hdB for landlords is „tenant,” hence the term „subletting.”) Here are the most common (and false) assumptions that people make: You can however rent the HDB apartment or the room to another tenant every time.