Rental questions
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Appreciate some advice, pls.
My parents living in their 5rm hdb flat decided to rent out 2 of the rooms, while they live in the master bedroom.
Do they need to inform HDB?
Thank you. -
starlight1968sg:
Hi, believe it will be in their interest to inform. This can be done online fairly easily at HDB website.Appreciate some advice, pls.
My parents living in their 5rm hdb flat decided to rent out 2 of the rooms, while they live in the master bedroom.
Do they need to inform HDB?
Thank you. -
hquek:
What is the purpose to inform besides being \"charged\" as income so as to pay tax?
Hi, believe it will be in their interest to inform. This can be done online fairly easily at HDB website.starlight1968sg:
Appreciate some advice, pls.
My parents living in their 5rm hdb flat decided to rent out 2 of the rooms, while they live in the master bedroom.
Do they need to inform HDB?
Thank you. -
starlight1968sg:
Frankly, I can't recall why it'll be good to declare when it's renting out some rooms only. But HDB leases out the flat to us (check the terminology, unlike private property, HDB 'owners' are in reality renting the flat from HDB) so there are conditions that need be met.
What is the purpose to inform besides being \"charged\" as income so as to pay tax?
Offhand, I don't believe there will be adverse implications (like confiscating the flat) especially since your parents are still staying in the unit; but where gahmen is concerned, I rather be safe than sorry. Up to individual. -
I think got to declare cos to check the tenant is holding legal pass to stay in sing, just in case …
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hquek:
But HDB leases out the flat to us (check the terminology, unlike private property, HDB 'owners' are in reality renting the flat from HDB) so there are conditions that need be met
.
Pls explain what do u mean by 'HDB leases out the flat to us ' when the housing loan is fully paid?
Are we not the rightful owner?
What I don't understand is why HDB owners can't have the same privilege as private home owners (in the case of fully paid loans)? -
zbear:
Think we are referred to as lessee in the application, if I m not wrong.hquek:
But HDB leases out the flat to us (check the terminology, unlike private property, HDB 'owners' are in reality renting the flat from HDB) so there are conditions that need be met
.
Pls explain what do u mean by 'HDB leases out the flat to us ' when the housing loan is fully paid?
Are we not the rightful owner?
What I don't understand is why HDB owners can't have the same privilege as private home owners (in the case of fully paid loans)? -
After 99 years, your HDB is no longer yours.
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If u rent property out, income taxable.
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TheAnswer:
After 99 years, your HDB is no longer yours.
Is it the same rationale for 99 or 999 years leasehold private property?
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