Under a new use category proposed by the Urban Redevelopment Authority (URA), private residential properties in Singapore could be allowed to be listed for short-term rentals on Airbnb.
Currently, rental of private residential properties in Singapore are subject to a minimum duration of three consecutive months.
URA released its proposed regulatory framework for public consultation on Monday, April 16, spelling out the qualifying criteria for homes to be used for short-term stays. According to a report by Todayonline, URA also listed conditions and requirements for homeowners, and the roles and responsibilities of stakeholders. These include management corporations (MCSTs) and short-term accommodation platforms.
Housing and Development Board (HDB) properties, however, are not included in the proposed framework.
If passed, the framework will create a new use category for short-term stays, in the Airbnb style. This requires, however, a large enough proportion of owners to agree to the new use, said the report.
Strata-titled properties such as condominiums and apartments governed by management corporations (MCSTs) will need at least 80 percent share value approval for the short-term accommodation use to be applied to their properties.
On the other hand, owners of developments without MCSTs can decide on the matter and put in an application to the URA to be registered for this new use category. This is provided that requirements are met.
The full consultation document can be found here. Members can also share their views on the Reach platform. The closing date for public submission is May 31.