IN AN unprecedented crackdown on illegal subletting, the Housing Board (HDB) has taken action against four flat owners and compulsorily acquired their flats.
These owners did not live in the flats they purchased and sublet their homes without meeting the minimum period of occupation - five years for subsidised flats and three years for non-subsidised flats - or obtaining the HDB's approval.
Locked out, then found out
The owner sought the HDB's help in getting into his flat after he was locked out of it.
That was when he was found out. He had allowed his three-room flat in the western part of Singapore to be used as collateral for a loan. His moneylender had sublet the flat as repayment.
After he got back into his flat, the HDB reminded him repeatedly that he had to resume occupation of it and evict the tenants.
But he did neither, even after he was given a grace period.
The HDB thus took over the flat.
Let out too soon
She let out her flat without the HDB's approval only a year after she had bought the property. The HDB requires home owners to live in their flats for a minimum period before they can let them out.
Though she did as told by the HDB and evicted her tenants, she failed to move back in, and left the flat empty.
The HDB then took over the flat.
Didn't live in matrimonial home
She bought the flat with her former husband, a foreigner, while they were married.
But she never moved in. Instead, she lived abroad and sublet the flat without meeting the minimum occupation period or getting approval from the HDB.
When their marriage broke down, her ex-husband wrote to the HDB to say that the flat was never intended as their matrimonial home and he had, in fact, never even seen it.
Even after she returned to Singapore, she chose to live with her family and not in her own property.
The HDB proceeded to acquire the flat.
Sublet to religious group
The flat owner lived in another home with her family while she sublet her unit to a religious group.
The flat was compulsorily acquired on the grounds that it was let out without the HDB's approval and that the owner did not resume occupation.
Source: Straits Times, 29 Jul 2010
Showing posts with label Rental. Show all posts
Showing posts with label Rental. Show all posts
Thursday, July 29, 2010
HDB seizes flats of four home owners
Six other flat owners fined, in clampdown on illegal subletting
FOUR Housing Board home owners lost their flats in the first five months of this year, after the HDB launched an unprecedented crackdown on those who let out their flats illegally.
Six others have been fined amounts that ranged from $4,200 to $14,400.
Making good its earlier pledge to clamp down on illegal subletting, HDB inspectors checked 2,600 homes from January to May, four times more than in the preceding five months last year.
Some 2,300 flat owners are in the clear, but of the 300 still being investigated, 59 cases have been classified as suspicious.
The crackdown comes after measures announced in March to ensure that heavily subsidised HDB flats are used as homes, and not as money-making tools.
For example, the minimum occupation period for resale flat buyers before they can sell the flat was lengthened to three years, up from as short as one year, to cool speculative demand for HDB flats.
The Government had said that illegal subletting was not rampant, but it also gave the assurance that it would step up enforcement against owners who flouted the rules to milk rental income.
The HDB confirmed that this is the biggest number of flats checked and compulsorily acquired over a five-month time frame.
In the preceding two years, the HDB repossessed four flats out of 56 illegal subletting cases. The other 52 were fined amounts ranging from $1,000 to $21,000.
'HDB flats are primarily meant for owner occupation. Subletting of HDB flats without HDB's approval is an infringement of the lease conditions,' its spokesman said yesterday.
As of the end of last month, 30,500 HDB flat owners, or 3.6 per cent, out of a total of 841,000 flat owners have obtained approval to sublet their flats.
In the latest blitz, the spokesman said that in all 10 cases, the flat owners were not living in their homes and had sublet the whole flat without HDB approval.
She said a fine would generally be imposed on first-time offenders, unless their actions were particularly blatant, such as repeatedly ignoring HDB reminders to evict tenants.
Then, under the HDB Act, it would resort to compulsory acquisition, returning the owner only the value at which he had bought the flat.
A penalty would also be deducted from that amount.
The HDB cited one case in which a woman bought a flat with her then-husband but stayed overseas all the while.
When the marriage broke up, the ex-husband confirmed that they had no intention of living in the flat, which had been sublet before the expiry of the minimum occupation period.
One owner even allowed his moneylender to let out his flat to collect rent that constituted his debt repayment.
The HDB also found cases where flat owners skirted subletting rules by locking up one room and renting out the rest of the flat.
The rules mandate that owners can sublet their whole flats only after they fulfil the minimum occupation periods of five years for subsidised flats and three years for non-subsidised flats.
Approval must be obtained from the HDB, with caps on the number of sub-tenants allowed, based on flat size.
Former chairman of the Government Parliamentary Committee for National Development Charles Chong said the crackdown will 'send out a very strong message that the flats are not for people to make money, but for accommodation'.
There had been public concern that illegal subletting was indirectly linked to rising resale prices.
However, property analysts interviewed said that stricter enforcement is unlikely to have a significant impact on the market.
Said group managing director Danny Yeo of Knight Frank real estate consultancy: 'There are many illegal subletters, but compared to the total number of flats available, the numbers are small.'
Mr Gerard Thomas, marketing director of SHL Realty, said: 'There are also external factors to consider, for example, what the economy is like, whether there are any disasters.'
Mr Thomas added that the stricter enforcement would reduce the incentive for people to sublet illegally because the 'price is too high to pay'.
About three in every 10 cases in the crackdown came from public tip-offs.
While flat owners who rent out rooms do not need HDB approval, they must register the subletting details within a week, on pain of a fine of up to $3,000.
This move helps track tenants who use the flat addresses to borrow from loan sharks.
A six-month grace period for those who had sublet their flats before the start of February expires at the end of this month.
Those who want to report on illegal subletting can call the HDB on 1800-555-6370.
Source: Straits Times, 29 Jul 2010
FOUR Housing Board home owners lost their flats in the first five months of this year, after the HDB launched an unprecedented crackdown on those who let out their flats illegally.
Six others have been fined amounts that ranged from $4,200 to $14,400.
Making good its earlier pledge to clamp down on illegal subletting, HDB inspectors checked 2,600 homes from January to May, four times more than in the preceding five months last year.
Some 2,300 flat owners are in the clear, but of the 300 still being investigated, 59 cases have been classified as suspicious.
The crackdown comes after measures announced in March to ensure that heavily subsidised HDB flats are used as homes, and not as money-making tools.
For example, the minimum occupation period for resale flat buyers before they can sell the flat was lengthened to three years, up from as short as one year, to cool speculative demand for HDB flats.
The Government had said that illegal subletting was not rampant, but it also gave the assurance that it would step up enforcement against owners who flouted the rules to milk rental income.
The HDB confirmed that this is the biggest number of flats checked and compulsorily acquired over a five-month time frame.
In the preceding two years, the HDB repossessed four flats out of 56 illegal subletting cases. The other 52 were fined amounts ranging from $1,000 to $21,000.
'HDB flats are primarily meant for owner occupation. Subletting of HDB flats without HDB's approval is an infringement of the lease conditions,' its spokesman said yesterday.
As of the end of last month, 30,500 HDB flat owners, or 3.6 per cent, out of a total of 841,000 flat owners have obtained approval to sublet their flats.
In the latest blitz, the spokesman said that in all 10 cases, the flat owners were not living in their homes and had sublet the whole flat without HDB approval.
She said a fine would generally be imposed on first-time offenders, unless their actions were particularly blatant, such as repeatedly ignoring HDB reminders to evict tenants.
Then, under the HDB Act, it would resort to compulsory acquisition, returning the owner only the value at which he had bought the flat.
A penalty would also be deducted from that amount.
The HDB cited one case in which a woman bought a flat with her then-husband but stayed overseas all the while.
When the marriage broke up, the ex-husband confirmed that they had no intention of living in the flat, which had been sublet before the expiry of the minimum occupation period.
One owner even allowed his moneylender to let out his flat to collect rent that constituted his debt repayment.
The HDB also found cases where flat owners skirted subletting rules by locking up one room and renting out the rest of the flat.
The rules mandate that owners can sublet their whole flats only after they fulfil the minimum occupation periods of five years for subsidised flats and three years for non-subsidised flats.
Approval must be obtained from the HDB, with caps on the number of sub-tenants allowed, based on flat size.
Former chairman of the Government Parliamentary Committee for National Development Charles Chong said the crackdown will 'send out a very strong message that the flats are not for people to make money, but for accommodation'.
There had been public concern that illegal subletting was indirectly linked to rising resale prices.
However, property analysts interviewed said that stricter enforcement is unlikely to have a significant impact on the market.
Said group managing director Danny Yeo of Knight Frank real estate consultancy: 'There are many illegal subletters, but compared to the total number of flats available, the numbers are small.'
Mr Gerard Thomas, marketing director of SHL Realty, said: 'There are also external factors to consider, for example, what the economy is like, whether there are any disasters.'
Mr Thomas added that the stricter enforcement would reduce the incentive for people to sublet illegally because the 'price is too high to pay'.
About three in every 10 cases in the crackdown came from public tip-offs.
While flat owners who rent out rooms do not need HDB approval, they must register the subletting details within a week, on pain of a fine of up to $3,000.
This move helps track tenants who use the flat addresses to borrow from loan sharks.
A six-month grace period for those who had sublet their flats before the start of February expires at the end of this month.
Those who want to report on illegal subletting can call the HDB on 1800-555-6370.
Source: Straits Times, 29 Jul 2010
HDB steps up checks on unauthorised sub-letting
THE Housing and Development Board has cracked down on unauthorised sub-letting. Almost four times as many checks were carried out in the first five months of this year - 2,600, versus 690 between August and December 2009.
About 70 per cent of the 2,600 checks were routine inspections. The others were carried out after public feedback.
HDB said it has taken compulsory acquisition action against four flat owners this year and fined six others for unauthorised sub-letting.
Those whose flats were repossessed were not staying in them and had sub-let without HDB approval.
Owners are allowed to sub-let whole flats only after occupying them for at least five years if they are subsidised flats, or three years if they are non-subsidised.
Owners must also obtain written approval from HDB before sub-letting an entire flat. Different flat types have different limits on the number of sub-tenants allowed. One and two-room flats are allowed four sub-tenants, three-rooms are allowed six and larger flats are allowed up to nine sub-tenants.
Approval is not required for sub-letting of rooms, but flat owners must let HDB know within seven days of doing so.
Source: Business Times, 29 Jul 2010
About 70 per cent of the 2,600 checks were routine inspections. The others were carried out after public feedback.
HDB said it has taken compulsory acquisition action against four flat owners this year and fined six others for unauthorised sub-letting.
Those whose flats were repossessed were not staying in them and had sub-let without HDB approval.
Owners are allowed to sub-let whole flats only after occupying them for at least five years if they are subsidised flats, or three years if they are non-subsidised.
Owners must also obtain written approval from HDB before sub-letting an entire flat. Different flat types have different limits on the number of sub-tenants allowed. One and two-room flats are allowed four sub-tenants, three-rooms are allowed six and larger flats are allowed up to nine sub-tenants.
Approval is not required for sub-letting of rooms, but flat owners must let HDB know within seven days of doing so.
Source: Business Times, 29 Jul 2010
Saturday, July 24, 2010
Rents rise for bigger HDB flats
THE Housing Board (HDB) rental market continues to strengthen with larger units showing the biggest rental jump.
Overall median monthly rentals inched up in the second quarter, helped by the demand from those fleeing from high private property rents. Foreigners and locals who have sold their homes in a hot market are among those boosting HDB rents, experts say.
Overall, median rentals for two- and three-room flats were flat at $1,200 and $1,500 respectively. But four-room, five-room and executive flats saw median rental increases of between $50 and $100 a month from the previous quarter.
Four-room flat monthly rentals rose to $1,800 from $1,750, five-room flat rentals were $2,000 from $1,900 and executive flat rentals climbed to $2,100 from $2,000 in the previous quarter.
Median rentals for executive flats in Queenstown also passed the $3,000 mark for the first time since the fourth quarter of 2008, rising to $3,200. There were, however, fewer than 10 of such sublets.
Five-room flats median monthly rentals in the central region also hovered over the $3,000 benchmark for the second consecutive quarter at $3,150.
Executive flats in Jurong East saw one of the largest jumps, of $300, from $2,100 to $2,400, while areas such as Bukit Batok and Sengkang generally saw higher rentals across all flat types.
Property experts say these second quarter median rentals have hit the peak previously achieved in the second half of 2008. They expect further rise and new benchmarks to be set later this year.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak said as private rentals rose steadily, some tenants were likely to look for cheaper alternatives.
'The rate of rental increase might have outpaced the rental budget and so some tenants might prefer an HDB flat in a better location,' he said.
HSR executive director (agency) Jeffrey Hong said that the strong demand is partly due to an influx of foreigners this year into sectors such as information technology, as companies have started hiring again.
Some Singaporeans who sold their property to cash in on high property prices have also decided to rent temporarily instead of buying immediately, he said.
Ms Hwa Hui-en, 24, a social worker, has been renting a four-room flat with four others near Ghim Moh for $2,000 a month since November last year.
She is worried her rent might rise when her lease ends in November as some of her friends have had to move out of rented homes due to higher asking rents.
'Rentals are quite costly... We're splitting the rent among five people and are sharing rooms now. If we don't, it will probably take up a huge portion of our salary, maybe even one quarter of it.'
HDB said subletting deals rose about 15 per cent from 6,606 in the first quarter to 7,595 in the second - taking total approved sublet units to 30,500.
Source: Straits Times, 24 Jul 2010
Overall median monthly rentals inched up in the second quarter, helped by the demand from those fleeing from high private property rents. Foreigners and locals who have sold their homes in a hot market are among those boosting HDB rents, experts say.
Overall, median rentals for two- and three-room flats were flat at $1,200 and $1,500 respectively. But four-room, five-room and executive flats saw median rental increases of between $50 and $100 a month from the previous quarter.
Four-room flat monthly rentals rose to $1,800 from $1,750, five-room flat rentals were $2,000 from $1,900 and executive flat rentals climbed to $2,100 from $2,000 in the previous quarter.
Median rentals for executive flats in Queenstown also passed the $3,000 mark for the first time since the fourth quarter of 2008, rising to $3,200. There were, however, fewer than 10 of such sublets.
Five-room flats median monthly rentals in the central region also hovered over the $3,000 benchmark for the second consecutive quarter at $3,150.
Executive flats in Jurong East saw one of the largest jumps, of $300, from $2,100 to $2,400, while areas such as Bukit Batok and Sengkang generally saw higher rentals across all flat types.
Property experts say these second quarter median rentals have hit the peak previously achieved in the second half of 2008. They expect further rise and new benchmarks to be set later this year.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak said as private rentals rose steadily, some tenants were likely to look for cheaper alternatives.
'The rate of rental increase might have outpaced the rental budget and so some tenants might prefer an HDB flat in a better location,' he said.
HSR executive director (agency) Jeffrey Hong said that the strong demand is partly due to an influx of foreigners this year into sectors such as information technology, as companies have started hiring again.
Some Singaporeans who sold their property to cash in on high property prices have also decided to rent temporarily instead of buying immediately, he said.
Ms Hwa Hui-en, 24, a social worker, has been renting a four-room flat with four others near Ghim Moh for $2,000 a month since November last year.
She is worried her rent might rise when her lease ends in November as some of her friends have had to move out of rented homes due to higher asking rents.
'Rentals are quite costly... We're splitting the rent among five people and are sharing rooms now. If we don't, it will probably take up a huge portion of our salary, maybe even one quarter of it.'
HDB said subletting deals rose about 15 per cent from 6,606 in the first quarter to 7,595 in the second - taking total approved sublet units to 30,500.
Source: Straits Times, 24 Jul 2010
Friday, July 16, 2010
HDB subletting: Owners must file by July 31
FLAT owners who sublet rooms in Housing Board flats have until the end of this month to register with the board if the subletting began before Feb 1.
For subletting that started from that date or later, registration must be done within seven days from when the subletting began.
This requirement is in line with ongoing efforts by the Ministry of Home Affairs (MHA) to eradicate loan-sharking activities and help protect HDB residents from being victimised by such activities.
When some people borrow money from loan sharks, they move to a new location but give the loan sharks their previous addresses. This way, if they fall behind on payments, those living at their former addresses will be the ones harassed by the loan sharks.
The new rule enables HDB to capture the particulars of those who rent rooms in HDB flats and allows MHA to trace the movement of borrowers.
HDB may impose a penalty on those who fail to register their subletting. The penalty could involve a fine of up to $3,000, and for recalcitrant cases, HDB could take back the flat.
For further information or inquiries, the public can call HDB's toll-free Subletting of Flat & Rooms Enquiry Line on 1800-555-6370.
Source: Straits Times, 16 Jul 2010
For subletting that started from that date or later, registration must be done within seven days from when the subletting began.
This requirement is in line with ongoing efforts by the Ministry of Home Affairs (MHA) to eradicate loan-sharking activities and help protect HDB residents from being victimised by such activities.
When some people borrow money from loan sharks, they move to a new location but give the loan sharks their previous addresses. This way, if they fall behind on payments, those living at their former addresses will be the ones harassed by the loan sharks.
The new rule enables HDB to capture the particulars of those who rent rooms in HDB flats and allows MHA to trace the movement of borrowers.
HDB may impose a penalty on those who fail to register their subletting. The penalty could involve a fine of up to $3,000, and for recalcitrant cases, HDB could take back the flat.
For further information or inquiries, the public can call HDB's toll-free Subletting of Flat & Rooms Enquiry Line on 1800-555-6370.
Source: Straits Times, 16 Jul 2010
Thursday, July 15, 2010
32,000 flat owners sublet their flats as of end June
Some 32,000 flat owners have registered their subletting of rooms with HDB as of end June.
HDB has also issued a reminder to those whose tenancies started before February, that their six months grace period for registration will end at the end of this month.
Those who sublet from February 1 are required to register with HDB within seven days from the start date of the subletting.
Flat owners are also required to notify HDB when they renew or terminate their subletting contracts, and when there are changes to their subtenants’ particulars.
There’s however no need to seek prior approval for subletting of rooms.
HDB says this requirement supports the Home Affairs Ministry’s ongoing efforts to eradicate loansharking activities, and to better protect residents.
The housing board says it may impose a penalty on those who flout the rule.
The penalty may involve a fine of up to $3,000 or for recalcitrant cases, compulsory acquisition of their flats.
Source: Channel News Asia, 15 Jul 2010
HDB has also issued a reminder to those whose tenancies started before February, that their six months grace period for registration will end at the end of this month.
Those who sublet from February 1 are required to register with HDB within seven days from the start date of the subletting.
Flat owners are also required to notify HDB when they renew or terminate their subletting contracts, and when there are changes to their subtenants’ particulars.
There’s however no need to seek prior approval for subletting of rooms.
HDB says this requirement supports the Home Affairs Ministry’s ongoing efforts to eradicate loansharking activities, and to better protect residents.
The housing board says it may impose a penalty on those who flout the rule.
The penalty may involve a fine of up to $3,000 or for recalcitrant cases, compulsory acquisition of their flats.
Source: Channel News Asia, 15 Jul 2010
Friday, July 9, 2010
Residential units post higher rentals
Rates have followed the dizzying rise in private property prices but ‘will stabilise or even correct’
Rental rates for residential units have tracked the dizzying rise in private property prices, with rents for condominiums posting a significant increase of 5.8 per cent over the first five months of this year.
Based on data from the Urban Redevelopment Authority (URA), median rentals of non-landed residential properties in January amount to $30.54 per square metre (psm) but were propelled higher to $32.41 psm in May.
Rentals for units in the central region are even higher at $36.89 psm in May.
The maximum rental per month for non-landed residential properties in the central region amounts to $114.58 psm, while minimum rental amounts to $11.64 psm.
Condominiums in the east and west recorded median rents of $27.68 psm and $27 psm, respectively, for the same period.
Meanwhile, rentals in the north-east region hit $26.39 psm, while north region rentals stand at $24.47 psm.
As for the rest of the country, maximum rentals range from $33.65 psm to $60.87 psm, while minimum rentals range from $10.18 psm to $14.36 psm.
Market watchers said the significant increase in residential rents is due to an improving economy and a robust property market.
Donald Han, managing director of Cushman and Wakefield, attributed the rise to landlords looking to pocket higher returns from the bullish growth by increasing rents.
“Businesses have started to relocate to Singapore and are bringing in a lot of foreign workers, which have increased demand for residential housing, as compared to the first half of last year, when companies were shedding staff,” said Mr Han.
However, Mr Colin Tan, head of research and consultancy at Chesterton Suntec International, said the rental increase is due to a sharp drop in housing supply.
In the fourth quarter of last year, the number of demolitions jumped to 1,441 – more than the 1,400 units available.
Mr Tan attributes this to an increased number of collective sales, which resulted in more units being demolished during that period.
Unable to make up for the drastic loss, the first quarter of this year, only saw 1,407 units available for occupancy.
“The higher number of demolitions is probably a one-off effect. The numbers of demolished units returned to about 400 units-odd in the first quarter of this year,” added Mr Tan.
With a lot fewer units available and the ongoing high demand for residential properties, rentals hence saw a considerable increase.
Barring drastic changes, he expects rentals to stabilise in the coming months.
“Once the effect of the sharp reduction in housing stock wears off, the rise in rentals will stabilise and may even correct in the coming quarters unless demand is ramped up suddenly but that does not seem to be the case,” he said.
Mr Han expects rentals to increase to about 5 per cent to 8 per cent by the end of this year, in line with the bright outlook for Singapore’s growth.
With growing yields, it is also an ideal time for home owners looking to lease out their properties to hedge against inflation and volatile markets.
“Yields have risen slightly to 3 per cent to 3.8 per cent and are likely to go up over 4 per cent at end of the year. With the low interest rate of 1 per cent to 1.2 per cent, this is a good time for residential yields,” said Mr Han.
Source: Today, 9 Jul 2010
Rental rates for residential units have tracked the dizzying rise in private property prices, with rents for condominiums posting a significant increase of 5.8 per cent over the first five months of this year.
Based on data from the Urban Redevelopment Authority (URA), median rentals of non-landed residential properties in January amount to $30.54 per square metre (psm) but were propelled higher to $32.41 psm in May.
Rentals for units in the central region are even higher at $36.89 psm in May.
The maximum rental per month for non-landed residential properties in the central region amounts to $114.58 psm, while minimum rental amounts to $11.64 psm.
Condominiums in the east and west recorded median rents of $27.68 psm and $27 psm, respectively, for the same period.
Meanwhile, rentals in the north-east region hit $26.39 psm, while north region rentals stand at $24.47 psm.
As for the rest of the country, maximum rentals range from $33.65 psm to $60.87 psm, while minimum rentals range from $10.18 psm to $14.36 psm.
Market watchers said the significant increase in residential rents is due to an improving economy and a robust property market.
Donald Han, managing director of Cushman and Wakefield, attributed the rise to landlords looking to pocket higher returns from the bullish growth by increasing rents.
“Businesses have started to relocate to Singapore and are bringing in a lot of foreign workers, which have increased demand for residential housing, as compared to the first half of last year, when companies were shedding staff,” said Mr Han.
However, Mr Colin Tan, head of research and consultancy at Chesterton Suntec International, said the rental increase is due to a sharp drop in housing supply.
In the fourth quarter of last year, the number of demolitions jumped to 1,441 – more than the 1,400 units available.
Mr Tan attributes this to an increased number of collective sales, which resulted in more units being demolished during that period.
Unable to make up for the drastic loss, the first quarter of this year, only saw 1,407 units available for occupancy.
“The higher number of demolitions is probably a one-off effect. The numbers of demolished units returned to about 400 units-odd in the first quarter of this year,” added Mr Tan.
With a lot fewer units available and the ongoing high demand for residential properties, rentals hence saw a considerable increase.
Barring drastic changes, he expects rentals to stabilise in the coming months.
“Once the effect of the sharp reduction in housing stock wears off, the rise in rentals will stabilise and may even correct in the coming quarters unless demand is ramped up suddenly but that does not seem to be the case,” he said.
Mr Han expects rentals to increase to about 5 per cent to 8 per cent by the end of this year, in line with the bright outlook for Singapore’s growth.
With growing yields, it is also an ideal time for home owners looking to lease out their properties to hedge against inflation and volatile markets.
“Yields have risen slightly to 3 per cent to 3.8 per cent and are likely to go up over 4 per cent at end of the year. With the low interest rate of 1 per cent to 1.2 per cent, this is a good time for residential yields,” said Mr Han.
Source: Today, 9 Jul 2010
Friday, June 4, 2010
20,258 HDB owners register for subletting
THE HDB has announced that as of April 30, 20,258 owners have registered their subletting of homes with HDB. This figure includes those with tenancies commencing before and after Feb 1, 2010.
On Jan 12 this year, HDB announced that with effect from Feb 1, 2010, flat owners who sublet rooms in their HDB flats will have to register with HDB within seven days of doing so. They are also required to notify HDB when they renew or terminate their subletting contracts, and when there are changes to their subtenant's particulars.
This rule applied to all and existing cases of rooms sublets.
For new cases of subletting from Feb 1, 2010, owners are required to register with the HDB within seven days from the start date of subletting.
For subletting tenancies that commenced before Feb 1, 2010, owners are given a six-month grace period from Feb 1, 2010 to register their subletting with HDB.
HDB may impose a penalty on those who flout the rule. The penalty may involve a fine of up to $3,000 or, for recalcitrant cases, compulsory acquisition of their flats.
Source: Business Times, 4 Jun 2010
On Jan 12 this year, HDB announced that with effect from Feb 1, 2010, flat owners who sublet rooms in their HDB flats will have to register with HDB within seven days of doing so. They are also required to notify HDB when they renew or terminate their subletting contracts, and when there are changes to their subtenant's particulars.
This rule applied to all and existing cases of rooms sublets.
For new cases of subletting from Feb 1, 2010, owners are required to register with the HDB within seven days from the start date of subletting.
For subletting tenancies that commenced before Feb 1, 2010, owners are given a six-month grace period from Feb 1, 2010 to register their subletting with HDB.
HDB may impose a penalty on those who flout the rule. The penalty may involve a fine of up to $3,000 or, for recalcitrant cases, compulsory acquisition of their flats.
Source: Business Times, 4 Jun 2010
Sub-letting room? Grace period to register ends soon
THE Housing Board yesterday reminded flat owners who sub-let rooms before Feb 1 that they have until July 31 to register their tenants' details with the HDB.
All flat owners are now required to register the sub-letting arrangements, under a new rule introduced earlier this year.
From Feb 1, anyone sub-letting a room has been given seven days to register, but a six-month grace period expiring July 31 was granted for those who had sub-let before the beginning of February.
In all, 20,258 flat owners had registered their subletting of rooms with the HDB, as of April 30.
That figure includes flat owners with sub-letting tenancies commencing both before and from Feb 1, the board said.
Part of the reason the new rule was introduced was to try to curb the worsening activities of loan sharks.
Some people who borrow from loan sharks and who rent rooms in HDB flats have been known to use their former addresses when borrowing.
That leaves a flat's new occupants to face possible harassment from the illegal moneylenders.
The rule was implemented to track those who borrow from loan sharks.
'There is no need to seek prior approval for subletting of rooms,' the HDB said.
However, flat owners are required to notify the HDB when they renew or terminate their sub-letting contracts, as well as when a new sub-let starts.
Registration can be done online or at any HDB branch office.
The board said that those who flout the rule may be fined up to $3,000. For recalcitrant cases, compulsory acquisition of their flats could be carried out.
Source: Straits Times, 4 Jun 2010
All flat owners are now required to register the sub-letting arrangements, under a new rule introduced earlier this year.
From Feb 1, anyone sub-letting a room has been given seven days to register, but a six-month grace period expiring July 31 was granted for those who had sub-let before the beginning of February.
In all, 20,258 flat owners had registered their subletting of rooms with the HDB, as of April 30.
That figure includes flat owners with sub-letting tenancies commencing both before and from Feb 1, the board said.
Part of the reason the new rule was introduced was to try to curb the worsening activities of loan sharks.
Some people who borrow from loan sharks and who rent rooms in HDB flats have been known to use their former addresses when borrowing.
That leaves a flat's new occupants to face possible harassment from the illegal moneylenders.
The rule was implemented to track those who borrow from loan sharks.
'There is no need to seek prior approval for subletting of rooms,' the HDB said.
However, flat owners are required to notify the HDB when they renew or terminate their sub-letting contracts, as well as when a new sub-let starts.
Registration can be done online or at any HDB branch office.
The board said that those who flout the rule may be fined up to $3,000. For recalcitrant cases, compulsory acquisition of their flats could be carried out.
Source: Straits Times, 4 Jun 2010
Energy-efficient homes fetch higher rents
POTENTIAL landlords, here’s a tip: Turn the apartment you are planning to rent out into a “green” home.
The reason? More Singaporean renters are clamouring for lower energy costs and an eco-friendly lifestyle.
Despite the higher cost of energy-efficient appliances, landlords are moving towards investing in energy-saving air-conditioning units, for example, as a green apartment can command rents which are up to 10 per cent above the market rate, said estate agents.
Five agents my paper spoke to reported seeing more clients with a preference for energy-efficient household appliances.
According to them, this trend started a couple of years ago and has been picking up in the last half a year.
These days, about three out of 10 clients ask about the energy efficiency of appliances, compared to almost none three years ago, they said.
One of the estate agents, Mr Michael Lim, 43, said that, thanks to campaigns by environmental advocates, people now know that energy-efficient appliances – though usually pricier – will help them save on their utility bills in the long run. People are also more aware of the benefits of going green.
“Landlords are willing to invest in these appliances because they become a bargaining tool,” said Mr Lim.
Estate agent Susan Lim, 37, said: “People want to do their part for the environment.
They’re willing to pay more rent not just because of the money they will save from electricity bills, but also because they want to lead an eco-friendly lifestyle.”
Appliances have to be awarded three ticks and above under the National Environment Agency’s (NEA) labelling scheme to qualify as energy-efficient. The highest number of ticks which can be awarded is four.
NEA recently released figures which showed that sales of energy-efficient appliances have increased. It said that sales of energy- efficient air-conditioners went up by more than 20 per cent from last October to March, compared to the three months prior to the period.
Mr Kelvin Ng, 42, who just moved to his second home, decided to furnish his first one with energy-efficient appliances.
The graphic designer said: “Buying energy-efficient appliances is a good investment, as the tenants and I would benefit.” Mr Ng’s four-room Housing Board flat in Bedok is being rented out for $2,500 a month, $100 above his expectations.
In this case, the estimated savings from just three energy- efficient appliances, not counting lights, is over $300 per year.
Source: my paper, 4 Jun 2010
The reason? More Singaporean renters are clamouring for lower energy costs and an eco-friendly lifestyle.
Despite the higher cost of energy-efficient appliances, landlords are moving towards investing in energy-saving air-conditioning units, for example, as a green apartment can command rents which are up to 10 per cent above the market rate, said estate agents.
Five agents my paper spoke to reported seeing more clients with a preference for energy-efficient household appliances.
According to them, this trend started a couple of years ago and has been picking up in the last half a year.
These days, about three out of 10 clients ask about the energy efficiency of appliances, compared to almost none three years ago, they said.
One of the estate agents, Mr Michael Lim, 43, said that, thanks to campaigns by environmental advocates, people now know that energy-efficient appliances – though usually pricier – will help them save on their utility bills in the long run. People are also more aware of the benefits of going green.
“Landlords are willing to invest in these appliances because they become a bargaining tool,” said Mr Lim.
Estate agent Susan Lim, 37, said: “People want to do their part for the environment.
They’re willing to pay more rent not just because of the money they will save from electricity bills, but also because they want to lead an eco-friendly lifestyle.”
Appliances have to be awarded three ticks and above under the National Environment Agency’s (NEA) labelling scheme to qualify as energy-efficient. The highest number of ticks which can be awarded is four.
NEA recently released figures which showed that sales of energy-efficient appliances have increased. It said that sales of energy- efficient air-conditioners went up by more than 20 per cent from last October to March, compared to the three months prior to the period.
Mr Kelvin Ng, 42, who just moved to his second home, decided to furnish his first one with energy-efficient appliances.
The graphic designer said: “Buying energy-efficient appliances is a good investment, as the tenants and I would benefit.” Mr Ng’s four-room Housing Board flat in Bedok is being rented out for $2,500 a month, $100 above his expectations.
In this case, the estimated savings from just three energy- efficient appliances, not counting lights, is over $300 per year.
Source: my paper, 4 Jun 2010
Monday, May 24, 2010
Rental cheat gets 16 months’ jail
A man was sentenced to 16 months’ jail in a district court on Monday for cheating four China nationals of S$10,700 in rental fees.
Ivan Tey, who is 35, owns a four-room flat in Jurong West.
Although he had rented the flat to other tenants, he approached different housing agents in October and November last year to look for prospective tenants to rent the flat to.
He found four different tenants and collected rental deposits from them.
The tenants later realised Tey had signed tenancy agreements with other tenants and found other tenants living in the flat.
They then separately made police reports.
Tey’s lawyer, Mr Joseph Chen, told the court that Tey committed the offences as he was in financial difficulty and had to support two young children.
He said Tey’s father is receiving treatment for cancer and urged the court to impose a shorter jail sentence.
Source: Channel News Asia, 24 May 2010
Ivan Tey, who is 35, owns a four-room flat in Jurong West.
Although he had rented the flat to other tenants, he approached different housing agents in October and November last year to look for prospective tenants to rent the flat to.
He found four different tenants and collected rental deposits from them.
The tenants later realised Tey had signed tenancy agreements with other tenants and found other tenants living in the flat.
They then separately made police reports.
Tey’s lawyer, Mr Joseph Chen, told the court that Tey committed the offences as he was in financial difficulty and had to support two young children.
He said Tey’s father is receiving treatment for cancer and urged the court to impose a shorter jail sentence.
Source: Channel News Asia, 24 May 2010
Friday, May 14, 2010
How to avoid falling victim to rental scams
TO AVOID falling prey to the con men, the police said that tenants should request that all parties - including landlords and agents - be present when signing the tenancy documents.
They should also avoid making large payments in cash, its spokesman said.
When it comes to dealing with property agents, the Consumers Association of Singapore (Case) said that tenants should use accredited agents and check with the property firms to ensure that these are bona fide agents, before engaging their services.
Dr Tan Tee Khoon, chief of Singapore Accredited Estate Agencies, said tenants could do an online check on the Inland Revenue Authority of Singapore's website, to make sure landlords are the genuine homeowners before they sign tenancy agreements or make any payments.
'Online scams are dangerous because one can easily conceal his identity and it'll be hard to trace the crime back to him and if he works fast enough, he can fleece people just like that,' said Dr Tan.
Source: Straits Times, 14 May 2010
They should also avoid making large payments in cash, its spokesman said.
When it comes to dealing with property agents, the Consumers Association of Singapore (Case) said that tenants should use accredited agents and check with the property firms to ensure that these are bona fide agents, before engaging their services.
Dr Tan Tee Khoon, chief of Singapore Accredited Estate Agencies, said tenants could do an online check on the Inland Revenue Authority of Singapore's website, to make sure landlords are the genuine homeowners before they sign tenancy agreements or make any payments.
'Online scams are dangerous because one can easily conceal his identity and it'll be hard to trace the crime back to him and if he works fast enough, he can fleece people just like that,' said Dr Tan.
Source: Straits Times, 14 May 2010
Con men pose as landlords in online scams
They target expatriates, offer fake properties
AS THE expatriate population grows, con men have started trawling Singapore-based rental websites, targeting foreigners who are looking to rent properties here.
Posing as owners of choice properties such as condominiums in District 10, they give potential tenants fake addresses and even pictures of well-furnished homes to trick unsuspecting foreigners into wiring down payments to them.
The police did not give details on how many people have been cheated in online property rental scams.
However, its statistics showed that one person fell victim to a property rental scam nearly every day for the past two years.
Police figures showed that there were 324 reports lodged last year from victims who claimed they were cheated in rental scams. In 2008, the figure was 355.
The number includes those who were fleeced after responding to advertisements and paying the down payments, only to find out that their landlords did not even own the properties.
Property experts told The Straits Times they are aware of such online rental scams, and have told their expatriate clients they should check with their companies' human resources departments to help them find apartments.
When The Straits Times recently posted a notice on some of these locally based property websites, posing as an expatriate looking for an apartment, three people claiming to be Singaporeans living overseas responded the same night.
Giving the excuse that they were not in Singapore, they said they could not arrange for any viewing of the apartments.
Instead, they sent images of well-renovated and well-furnished rooms, purportedly taken from inside the units.
However, a check showed that two addresses led to shops in Far East Plaza, and the other to a condominium in Mount Elizabeth Road which has not even been built yet.
When pressed for a viewing or for the unit number of the apartment, all three broke off contact.
An American expatriate working in the food and beverage industry here fell victim to a ruse earlier this year and lost $1,500 to a con man.
The man, who gave his name only as Marcus, was approached after he posted on a website here that he was looking for rental accommodation.
The con man e-mailed him photographs he claimed were of an apartment in South Bridge Road, and asked for $1,500 as rental and a deposit for the unit.
The con man even sent him a contract, and Marcus paid up because 'the apartment looks pretty good in the photos'.
But the moment the money was wired to a London bank account, the 'landlord' said the room had been rented out and promised to send the money back.
After a week, the 'landlord' stopped replying. 'That was when I knew I had been scammed,' said Marcus, who filed a police report in the United States.
Filipino system analyst Manuel Nacionales, 44, almost became another victim when he went apartment-hunting online in February this year.
He had posted a notice on a website after his rental lease in a Hougang flat expired. Within a day, a man claiming to be a Singaporean working in Britain e-mailed him, saying that he had an apartment in town for rent.
Said Mr Nacionales, who eventually backed out of the deal: 'He wanted me to wire $1,100 and said he would send the keys only after he got the money. Thankfully my colleagues cautioned me against it.'
Source: Straits Times, 14 May 2010
AS THE expatriate population grows, con men have started trawling Singapore-based rental websites, targeting foreigners who are looking to rent properties here.
Posing as owners of choice properties such as condominiums in District 10, they give potential tenants fake addresses and even pictures of well-furnished homes to trick unsuspecting foreigners into wiring down payments to them.
The police did not give details on how many people have been cheated in online property rental scams.
However, its statistics showed that one person fell victim to a property rental scam nearly every day for the past two years.
Police figures showed that there were 324 reports lodged last year from victims who claimed they were cheated in rental scams. In 2008, the figure was 355.
The number includes those who were fleeced after responding to advertisements and paying the down payments, only to find out that their landlords did not even own the properties.
Property experts told The Straits Times they are aware of such online rental scams, and have told their expatriate clients they should check with their companies' human resources departments to help them find apartments.
When The Straits Times recently posted a notice on some of these locally based property websites, posing as an expatriate looking for an apartment, three people claiming to be Singaporeans living overseas responded the same night.
Giving the excuse that they were not in Singapore, they said they could not arrange for any viewing of the apartments.
Instead, they sent images of well-renovated and well-furnished rooms, purportedly taken from inside the units.
However, a check showed that two addresses led to shops in Far East Plaza, and the other to a condominium in Mount Elizabeth Road which has not even been built yet.
When pressed for a viewing or for the unit number of the apartment, all three broke off contact.
An American expatriate working in the food and beverage industry here fell victim to a ruse earlier this year and lost $1,500 to a con man.
The man, who gave his name only as Marcus, was approached after he posted on a website here that he was looking for rental accommodation.
The con man e-mailed him photographs he claimed were of an apartment in South Bridge Road, and asked for $1,500 as rental and a deposit for the unit.
The con man even sent him a contract, and Marcus paid up because 'the apartment looks pretty good in the photos'.
But the moment the money was wired to a London bank account, the 'landlord' said the room had been rented out and promised to send the money back.
After a week, the 'landlord' stopped replying. 'That was when I knew I had been scammed,' said Marcus, who filed a police report in the United States.
Filipino system analyst Manuel Nacionales, 44, almost became another victim when he went apartment-hunting online in February this year.
He had posted a notice on a website after his rental lease in a Hougang flat expired. Within a day, a man claiming to be a Singaporean working in Britain e-mailed him, saying that he had an apartment in town for rent.
Said Mr Nacionales, who eventually backed out of the deal: 'He wanted me to wire $1,100 and said he would send the keys only after he got the money. Thankfully my colleagues cautioned me against it.'
Source: Straits Times, 14 May 2010
Thursday, May 13, 2010
More flexibility with interim rental housing?
The Housing and Development Board (HDB) can do more for families on the brink of losing their homes, say some social workers. In response, the board says it does show flexibility on a case-by-case basis.
Tanjong Pagar Family Service Centre executive director Wong Kwong Sing, for example, hopes interim rental housing can be supplied by the authorities before families are forced onto the streets.
“Most families are displaced due to the repossession of their flats by HDB or banks for their inability to repay the mortgage,” he said. “If the authority can arrange and facilitate the Interim Rental Housing assistance prior to repossession, this will definitely reduce the number of homeless families.”
Two other social workers MediaCorp spoke to also felt HDB should be “more flexible” and “exercise its discretion on compassionate grounds” when enforcing rental flat rules.
Moral FSC (Bukit Panjang) executive director Gerard Tan has come across clients who cannot access any of the range of public housing options due to personal and family circumstances, such as having children out of wedlock.
“While there’s a need for the housing policy to be applied consistently, sympathetic consideration may be warranted where the welfare of children is concerned,” he said.
When contacted, HDB said it “can exercise flexibility on a case-by-case basis”.
“We need to adopt a holistic approach to help the families, beyond just housing. Without solving the underlying issues involved, the families could easily lapse into ‘homelessness’ again, even if a flat were provided to them,” it added.
HDB said it works closely with banks, town councils and the Ministry of Community Development, Youth and Sports to resolve these families’ long-term social, financial and accommodation options.
The stock of rental flats has also been increased to 44,500 units, up from 42,000 in 2007, with an average waiting time of one year, down from 21 months last year, HDB added.
Meanwhile, Tanjong Pagar FSC has worked with Central Singapore Community Development Council to expedite approval of financial assistance to homeless clients. The wait is now two weeks, instead of four to six weeks.
None of the displaced adults who surfaced at the FSC could seek refuge with their immediate family members, noted Mr Wong, who urged Singaporeans to show more compassion toward their own family members.
While he “doesn’t think there’s going to be a magic bullet to slay this beast”, Mr Tan noted how occupants of rental public housing projects in Malaysia’s Selangor state can now do community service to pay off their rent arrears, similar to the Australian government’s work-for-the dole programme.
“Perhaps some incarnation of these schemes might be helpful in the Singapore context?” he wondered.
Source: Today, 13 May 2010
Tanjong Pagar Family Service Centre executive director Wong Kwong Sing, for example, hopes interim rental housing can be supplied by the authorities before families are forced onto the streets.
“Most families are displaced due to the repossession of their flats by HDB or banks for their inability to repay the mortgage,” he said. “If the authority can arrange and facilitate the Interim Rental Housing assistance prior to repossession, this will definitely reduce the number of homeless families.”
Two other social workers MediaCorp spoke to also felt HDB should be “more flexible” and “exercise its discretion on compassionate grounds” when enforcing rental flat rules.
Moral FSC (Bukit Panjang) executive director Gerard Tan has come across clients who cannot access any of the range of public housing options due to personal and family circumstances, such as having children out of wedlock.
“While there’s a need for the housing policy to be applied consistently, sympathetic consideration may be warranted where the welfare of children is concerned,” he said.
When contacted, HDB said it “can exercise flexibility on a case-by-case basis”.
“We need to adopt a holistic approach to help the families, beyond just housing. Without solving the underlying issues involved, the families could easily lapse into ‘homelessness’ again, even if a flat were provided to them,” it added.
HDB said it works closely with banks, town councils and the Ministry of Community Development, Youth and Sports to resolve these families’ long-term social, financial and accommodation options.
The stock of rental flats has also been increased to 44,500 units, up from 42,000 in 2007, with an average waiting time of one year, down from 21 months last year, HDB added.
Meanwhile, Tanjong Pagar FSC has worked with Central Singapore Community Development Council to expedite approval of financial assistance to homeless clients. The wait is now two weeks, instead of four to six weeks.
None of the displaced adults who surfaced at the FSC could seek refuge with their immediate family members, noted Mr Wong, who urged Singaporeans to show more compassion toward their own family members.
While he “doesn’t think there’s going to be a magic bullet to slay this beast”, Mr Tan noted how occupants of rental public housing projects in Malaysia’s Selangor state can now do community service to pay off their rent arrears, similar to the Australian government’s work-for-the dole programme.
“Perhaps some incarnation of these schemes might be helpful in the Singapore context?” he wondered.
Source: Today, 13 May 2010
Wednesday, May 12, 2010
Beware this fake-landlord scam
BE CAREFUL if you are looking to rent a home here, or you could fall prey to a rental scam.
This is how it works: A conman, using a fake name, poses as a landlord with rooms for rent at low prices.
He gives fake addresses of apartments in areas like Orchard and Chinatown.
He refuses to arrange for a viewing of the apartments, claiming that he is in Britain on internship and will be back here only by the end of next month.
He asks potential tenants to e-mail him a scan of their passport, and sign a contract e-mailed to them.
He asks them to wire a month’s rent and a security deposit to a Western Union account, and says he will post the keys to them. To reassure them, he sends images of the apartments and a scan of what he claims to be his passport.
A check with a thread on rental scams in Singapore on online forum scamwarners.com showed that at least 14 people have received such messages.
The scammer uses different pseudonyms, like Richard Willem Tibor, Jane Louise Millar and Tan Nee, and asks for sums of between $1,100 and $2,500.
Figures from the police show that, on average, one person falls victim to such rental scams every day. Last year, police received 324 reports of rental scams, down from 355 reports in 2008.
Mr Manuel Nacionales, 44, a Filipino systems analyst who has been working here for four years, almost became a victim.
He posted a request to rent a room on share-accommodation. sg, a website that links potential house- or flat-mates, in February this year.
Within a day, he got an offer of an apartment at 14 Scotts Road ? the address of shopping mall Far East Plaza.
In an e-mail sent from tantongnee@hotmail.com, the sender said he was a Singaporean named Tan Nee and could be called on +44-701-115-1047.
He asked Mr Nacionales to send a month’s rent of $700 and a security deposit of $400 to a Western Union account.
Mr Nacionales did receive a scan of the passport of a man called Tan Tong Nee, but did not wire any money after his colleagues advised him against it.
When my paper called the number posing as a potential tenant, the man identified himself as Tan Nee Long in a pseudo- British accent.
Pressed for the address of the rental apartment, he said that it was 202 Far East Apartment.
But a check with Far East Plaza’s residence showed that all its unit numbers are in four digits.
He could not arrange for a viewing of the apartment as he is doing a master’s programme in computer programming in London and has no friends in Singapore, he said.
He would send the keys only after the lease contract was signed and payment made.
“You have nothing to worry about, I’ll be sending you the contract and scanned passport of myself,” he said repeatedly.
When my paper asked him about forum postings about him being a scammer, he said: “No, I don’t do such things… People keep saying rubbish on the Internet.
It’s because I’m not gonna lease the room to them, that’s why they say I’m a scammer.”
He said that he was renting out the apartment on behalf of his mother, who owns it.
When told that he was speaking to my paper, he said “no problem”, but then hung up.
Scamwarners.com’s adviser, Mr David Jenson, 40, said one should never pay or send personal details to a stranger online.
Insist on seeing the title deeds, said Consumers Association of Singapore executive director Seah Seng Choon.
Check out the rightful owners of a property on the Inland Revenue Authority of Singapore’s website, and look for properties via reputable websites like www.iproperty.com and www.propertyguru.com, said Mr Nelson Tan, a council member of the Institute of Estate Agents.
A police spokesman said tenants should request all parties to be present when signing tenancy documents, and should not pay large sums in cash.
Source: my paper, 12 May 2010
This is how it works: A conman, using a fake name, poses as a landlord with rooms for rent at low prices.
He gives fake addresses of apartments in areas like Orchard and Chinatown.
He refuses to arrange for a viewing of the apartments, claiming that he is in Britain on internship and will be back here only by the end of next month.
He asks potential tenants to e-mail him a scan of their passport, and sign a contract e-mailed to them.
He asks them to wire a month’s rent and a security deposit to a Western Union account, and says he will post the keys to them. To reassure them, he sends images of the apartments and a scan of what he claims to be his passport.
A check with a thread on rental scams in Singapore on online forum scamwarners.com showed that at least 14 people have received such messages.
The scammer uses different pseudonyms, like Richard Willem Tibor, Jane Louise Millar and Tan Nee, and asks for sums of between $1,100 and $2,500.
Figures from the police show that, on average, one person falls victim to such rental scams every day. Last year, police received 324 reports of rental scams, down from 355 reports in 2008.
Mr Manuel Nacionales, 44, a Filipino systems analyst who has been working here for four years, almost became a victim.
He posted a request to rent a room on share-accommodation. sg, a website that links potential house- or flat-mates, in February this year.
Within a day, he got an offer of an apartment at 14 Scotts Road ? the address of shopping mall Far East Plaza.
In an e-mail sent from tantongnee@hotmail.com, the sender said he was a Singaporean named Tan Nee and could be called on +44-701-115-1047.
He asked Mr Nacionales to send a month’s rent of $700 and a security deposit of $400 to a Western Union account.
Mr Nacionales did receive a scan of the passport of a man called Tan Tong Nee, but did not wire any money after his colleagues advised him against it.
When my paper called the number posing as a potential tenant, the man identified himself as Tan Nee Long in a pseudo- British accent.
Pressed for the address of the rental apartment, he said that it was 202 Far East Apartment.
But a check with Far East Plaza’s residence showed that all its unit numbers are in four digits.
He could not arrange for a viewing of the apartment as he is doing a master’s programme in computer programming in London and has no friends in Singapore, he said.
He would send the keys only after the lease contract was signed and payment made.
“You have nothing to worry about, I’ll be sending you the contract and scanned passport of myself,” he said repeatedly.
When my paper asked him about forum postings about him being a scammer, he said: “No, I don’t do such things… People keep saying rubbish on the Internet.
It’s because I’m not gonna lease the room to them, that’s why they say I’m a scammer.”
He said that he was renting out the apartment on behalf of his mother, who owns it.
When told that he was speaking to my paper, he said “no problem”, but then hung up.
Scamwarners.com’s adviser, Mr David Jenson, 40, said one should never pay or send personal details to a stranger online.
Insist on seeing the title deeds, said Consumers Association of Singapore executive director Seah Seng Choon.
Check out the rightful owners of a property on the Inland Revenue Authority of Singapore’s website, and look for properties via reputable websites like www.iproperty.com and www.propertyguru.com, said Mr Nelson Tan, a council member of the Institute of Estate Agents.
A police spokesman said tenants should request all parties to be present when signing tenancy documents, and should not pay large sums in cash.
Source: my paper, 12 May 2010
Monday, May 10, 2010
Upgraded rental flats in Geylang Serai
It took nearly two years and cost $7.4 million but since March this year residents of three rental blocks in Merpati Road have been enjoying new amenities under the Rental Flat Upgrading Programme.
Yesterday, Senior Minister Goh Chok Tong, who is also Member of Parliament for Marine Parade GRC, officiated at the completion ceremony.
Residents in the 360 rental flats form about 5 per cent of the population in Geylang Serai constituency. The majority – about 60 per cent – live in private estates.
A carnival was also held to integrate all the residents.
Residents from the rental blocks and other Housing and Development Board blocks as well as from private estates set up the 25 booths together, said Dr Fatimah Lateef, the hosting MP of Geylang Serai Town Day 2010.
Integrating water catchment areas into Singapore’s living spaces was also showcased.
The 1,000 sq m Balam Estate Rain Garden showed how plants and soil cleaned rainwater, before channelling it to the nearby Pelton Canal and eventually to the Marina Reservoir.
Source: Today, 10 May 2010
Yesterday, Senior Minister Goh Chok Tong, who is also Member of Parliament for Marine Parade GRC, officiated at the completion ceremony.
Residents in the 360 rental flats form about 5 per cent of the population in Geylang Serai constituency. The majority – about 60 per cent – live in private estates.
A carnival was also held to integrate all the residents.
Residents from the rental blocks and other Housing and Development Board blocks as well as from private estates set up the 25 booths together, said Dr Fatimah Lateef, the hosting MP of Geylang Serai Town Day 2010.
Integrating water catchment areas into Singapore’s living spaces was also showcased.
The 1,000 sq m Balam Estate Rain Garden showed how plants and soil cleaned rainwater, before channelling it to the nearby Pelton Canal and eventually to the Marina Reservoir.
Source: Today, 10 May 2010
Sunday, May 9, 2010
Private home rents picking up again
Demand rising in tandem with arrival of more expats
Private home rents are finally on the way up, official data shows.
But there is some anecdotal evidence that the rental market has since slowed in some areas.
Data from the Urban Redevelopment Authority (URA) a fortnight ago shows private home rents rose by 4.7 per cent in the first quarter. This is a clear improvement on the 0.6 per cent rise in the previous quarter which followed five quarters of rental decline.
Leasing activities have picked up as more expatriates arrive, and this year could turn out to be as busy as 2007, said Mr Patrick Lai, director of corporate residential leasing at Savills Singapore.
Most of them are still from the biomedical, pharmaceutical and petrochemical industries, he said.
But Mr Lai added: 'We are seeing a lot of returnees from the financial services - and bankers are the ones with deep pockets.'
Agreeing, CBRE executive director, residential, Mr Joseph Tan said: 'The recovering Singapore economy has resulted in positive business sentiment and expansion plans, especially in finance and banking.
'Some top-level executives were known to have relocated from Britain to Singapore to enjoy some tax savings.'
Experts said rentals for good class bungalows and detached houses are up as their supply is limited.
Area-wise, the city centre is likely to do better than the city fringes or suburbs, said Mr Tan. URA data shows the median rents of some residential buildings in districts 9 and 10 such as The Claymore have grown by 1 to 27 per cent in the last six months.
The prime districts, and increasingly downtown Marina Bay and Sentosa Cove as well, are favourite locations for expatriates because of their amenities, network of foreigners, and accessibility to international schools, Mr Tan said.
As for the other areas, things are not as bright, though some parts are doing better. Rentals for both non-landed and landed homes in the Serangoon Gardens and Lorong Chuan areas, for instance, are heading up because of the presence of the Australian and French international schools there, said Mr Tan.
URA data shows that rents of non-landed homes in the city fringe areas and suburban spots rose by 4 per cent and 4.8 per cent respectively in the first quarter.
Rents of non-landed homes in the core city centre, or what URA calls the core central region, rose the most, at 5.3 per cent.
URA's second-quarter data will not be out until end-July but already, some agents are seeing more supply in certain parts of the market.
'The rental volume is there but lessees have more choices now. Quite a few projects were completed in the past few months and they will have created more competition in the market,' said ECG Property Group chief executive Eric Cheng.
The market did recover quite a bit earlier this year but things have slowed since then, with rentals staying mostly flat, said a seasoned agent who declined to be named.
In particular, the mid-tier rental segment - homes asking for about $3,500 to $8,000 a month - is expected to see even more supply than demand as more projects such as Sky @ Eleven and Southbank are completed, experts said.
An executive about to sign a lease for a three-bedroom apartment of some 1,500 sq ft in Upper Bukit Timah for $3,000 a month said the landlord had lowered the rent from $3,500 a month. 'Rents are very negotiable now,' she said.
Mr Tan said business prospects could remain favourable for the rest of the year, based on the Government's projection of gross domestic product growth of 7 per cent to 9 per cent this year.
'But the Greek financial crisis may put a dampener on the global markets,' he cautioned.
'Although companies may continue their expansion plans, they might not review their housing budget for expatriate staff. This is likely to check the rise in residential rents for the rest of the year.'
Source: Sunday Times, 9 May 2010
Private home rents are finally on the way up, official data shows.
But there is some anecdotal evidence that the rental market has since slowed in some areas.
Data from the Urban Redevelopment Authority (URA) a fortnight ago shows private home rents rose by 4.7 per cent in the first quarter. This is a clear improvement on the 0.6 per cent rise in the previous quarter which followed five quarters of rental decline.
Leasing activities have picked up as more expatriates arrive, and this year could turn out to be as busy as 2007, said Mr Patrick Lai, director of corporate residential leasing at Savills Singapore.
Most of them are still from the biomedical, pharmaceutical and petrochemical industries, he said.
But Mr Lai added: 'We are seeing a lot of returnees from the financial services - and bankers are the ones with deep pockets.'
Agreeing, CBRE executive director, residential, Mr Joseph Tan said: 'The recovering Singapore economy has resulted in positive business sentiment and expansion plans, especially in finance and banking.
'Some top-level executives were known to have relocated from Britain to Singapore to enjoy some tax savings.'
Experts said rentals for good class bungalows and detached houses are up as their supply is limited.
Area-wise, the city centre is likely to do better than the city fringes or suburbs, said Mr Tan. URA data shows the median rents of some residential buildings in districts 9 and 10 such as The Claymore have grown by 1 to 27 per cent in the last six months.
The prime districts, and increasingly downtown Marina Bay and Sentosa Cove as well, are favourite locations for expatriates because of their amenities, network of foreigners, and accessibility to international schools, Mr Tan said.
As for the other areas, things are not as bright, though some parts are doing better. Rentals for both non-landed and landed homes in the Serangoon Gardens and Lorong Chuan areas, for instance, are heading up because of the presence of the Australian and French international schools there, said Mr Tan.
URA data shows that rents of non-landed homes in the city fringe areas and suburban spots rose by 4 per cent and 4.8 per cent respectively in the first quarter.
Rents of non-landed homes in the core city centre, or what URA calls the core central region, rose the most, at 5.3 per cent.
URA's second-quarter data will not be out until end-July but already, some agents are seeing more supply in certain parts of the market.
'The rental volume is there but lessees have more choices now. Quite a few projects were completed in the past few months and they will have created more competition in the market,' said ECG Property Group chief executive Eric Cheng.
The market did recover quite a bit earlier this year but things have slowed since then, with rentals staying mostly flat, said a seasoned agent who declined to be named.
In particular, the mid-tier rental segment - homes asking for about $3,500 to $8,000 a month - is expected to see even more supply than demand as more projects such as Sky @ Eleven and Southbank are completed, experts said.
An executive about to sign a lease for a three-bedroom apartment of some 1,500 sq ft in Upper Bukit Timah for $3,000 a month said the landlord had lowered the rent from $3,500 a month. 'Rents are very negotiable now,' she said.
Mr Tan said business prospects could remain favourable for the rest of the year, based on the Government's projection of gross domestic product growth of 7 per cent to 9 per cent this year.
'But the Greek financial crisis may put a dampener on the global markets,' he cautioned.
'Although companies may continue their expansion plans, they might not review their housing budget for expatriate staff. This is likely to check the rise in residential rents for the rest of the year.'
Source: Sunday Times, 9 May 2010
Tuesday, May 4, 2010
Property investor Calisa Cheong in court for rental scam
Self-styled property investor Calisa Cheong Mei Ing was back in court on Tuesday after having her mitigation plea rejected last year.
In remand since July last year, Cheong faces 74 counts of cheating tenants of rent money and obtaining credit as an undischarged bankrupt.
When she appeared in the subordinate courts last October, the 40-year-old told the court she had wanted to plead guilty so as to fast track her sentence. She wanted to resume work as soon as possible and support her four children.
The single mother, however, decided to fight her case after her mitigation plea was rejected due to her insistence on maintaining innocence and a lawyer was subsequently assigned to her by the Law Society.
But in court on Tuesday, Cheong told District Judge Toh Yung Cheong that she would be representing herself as she had discharged the Law Society’s lawyer.
One of the victims, Mr Liu Guo, a Chinese national, told the court that Cheong had told him she was the owner of a flat at Geylang Bahru.
She told him that she was then pregnant and needed money, so Mr Liu withdrew S$3,000 from his bank account and gave it to her. He also transferred another S$4,000 from his bank account to hers.
However, when Mr Liu and his wife went to view the flat, he found out that the unit belonged to an Indian family. He telephoned Cheong but she told him he should inform her first if he wanted to view the flat again.
Refuting Mr Liu’s testimony, Cheong said that she had wanted to strike a rental deal with the flat owners, but Mr Liu jumped the gun and alarmed the owners.
The trial continues on Wednesday.
Source: Channel News Asia, 4 May 2010
In remand since July last year, Cheong faces 74 counts of cheating tenants of rent money and obtaining credit as an undischarged bankrupt.
When she appeared in the subordinate courts last October, the 40-year-old told the court she had wanted to plead guilty so as to fast track her sentence. She wanted to resume work as soon as possible and support her four children.
The single mother, however, decided to fight her case after her mitigation plea was rejected due to her insistence on maintaining innocence and a lawyer was subsequently assigned to her by the Law Society.
But in court on Tuesday, Cheong told District Judge Toh Yung Cheong that she would be representing herself as she had discharged the Law Society’s lawyer.
One of the victims, Mr Liu Guo, a Chinese national, told the court that Cheong had told him she was the owner of a flat at Geylang Bahru.
She told him that she was then pregnant and needed money, so Mr Liu withdrew S$3,000 from his bank account and gave it to her. He also transferred another S$4,000 from his bank account to hers.
However, when Mr Liu and his wife went to view the flat, he found out that the unit belonged to an Indian family. He telephoned Cheong but she told him he should inform her first if he wanted to view the flat again.
Refuting Mr Liu’s testimony, Cheong said that she had wanted to strike a rental deal with the flat owners, but Mr Liu jumped the gun and alarmed the owners.
The trial continues on Wednesday.
Source: Channel News Asia, 4 May 2010
Sunday, April 25, 2010
Big jump in subletting deals
EVEN as Housing Board (HDB) flat prices show signs of moderating after frenetic rises last year, the HDB rental market seems to be bucking the trend with a sharp upswing in subletting deals.
The HDB's Resale Price Index rose by 2.8 per cent in the first quarter over the previous one - slower than the 3.9 per cent jump in the previous three months.
The level of resale deals sold above valuation also remained unchanged at a heady 93 per cent. Median cash-over-valuation was $25,000 - a marginal rise of $1,000 over the quarter before - while the number of resale deals fell 5 per cent to 8,484.
Experts say that the Government's aggressive moves to supply more flats are beginning to cool the sizzling market.
'The number of new build-to-order (BTO) flats to be launched by HDB this year in a variety of locations, supplemented by upcoming design, build and sell scheme and executive condominium projects, are expected to take some steam off the resale HDB market,' ERA Asia Pacific associate director Eugene Lim said.
Chesterton Suntec International's research and consultancy director Colin Tan noted the HDB plans to launch about 12,000 BTO flats in the first nine months of this year, up from its initial plan of the same number over the full year.
The number of subletting deals shot up by about 69 per cent from 3,902 in the fourth quarter of last year to 6,606 in the first quarter. This brings the total number of HDB flats approved for subletting to about 27,300 units in the first quarter.
'The increased volume of transactions could be due to a higher number of renewal cases, higher demand for subletting of flats and a greater public awareness of the need to seek HDB's authorisation for subletting of whole flats,' HDB said.
Median subletting rent levels were stable from the previous quarter with only slight rises for two-room and five-room flats. But the central region bucked the trend with some hefty rent rises.
Two-room flat rents fell slightly but three-, four- and five-roomers all posted jumps in median rents to $1,900, $2,300 and $3,300 respectively from $1,730, $2,250 and $2,500 the quarter before.
Mr Tan says this could be due to the integrated resort effect which might have driven prices up. 'Some people might also like to take a gamble and sell their properties at high prices and then rent to consolidate their cash,' he added.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak said that the limited number of centrally located flats was a key reason for the jump in rentals though he added the data pool was small.
Mr Lim said with strong economic growth and confidence, resale HDB prices are set to rise by 5 per cent to 8 per cent this year.
Source: Straits Times, 24 Apr 2010
The HDB's Resale Price Index rose by 2.8 per cent in the first quarter over the previous one - slower than the 3.9 per cent jump in the previous three months.
The level of resale deals sold above valuation also remained unchanged at a heady 93 per cent. Median cash-over-valuation was $25,000 - a marginal rise of $1,000 over the quarter before - while the number of resale deals fell 5 per cent to 8,484.
Experts say that the Government's aggressive moves to supply more flats are beginning to cool the sizzling market.
'The number of new build-to-order (BTO) flats to be launched by HDB this year in a variety of locations, supplemented by upcoming design, build and sell scheme and executive condominium projects, are expected to take some steam off the resale HDB market,' ERA Asia Pacific associate director Eugene Lim said.
Chesterton Suntec International's research and consultancy director Colin Tan noted the HDB plans to launch about 12,000 BTO flats in the first nine months of this year, up from its initial plan of the same number over the full year.
The number of subletting deals shot up by about 69 per cent from 3,902 in the fourth quarter of last year to 6,606 in the first quarter. This brings the total number of HDB flats approved for subletting to about 27,300 units in the first quarter.
'The increased volume of transactions could be due to a higher number of renewal cases, higher demand for subletting of flats and a greater public awareness of the need to seek HDB's authorisation for subletting of whole flats,' HDB said.
Median subletting rent levels were stable from the previous quarter with only slight rises for two-room and five-room flats. But the central region bucked the trend with some hefty rent rises.
Two-room flat rents fell slightly but three-, four- and five-roomers all posted jumps in median rents to $1,900, $2,300 and $3,300 respectively from $1,730, $2,250 and $2,500 the quarter before.
Mr Tan says this could be due to the integrated resort effect which might have driven prices up. 'Some people might also like to take a gamble and sell their properties at high prices and then rent to consolidate their cash,' he added.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak said that the limited number of centrally located flats was a key reason for the jump in rentals though he added the data pool was small.
Mr Lim said with strong economic growth and confidence, resale HDB prices are set to rise by 5 per cent to 8 per cent this year.
Source: Straits Times, 24 Apr 2010
Saturday, April 24, 2010
Subletting transactions grew by 69 per cent
The number of subletting transactions grew by 69 per cent to 6,600 in the first quarter. More HDB flats were also approved for subletting – from 24,300 in the previous quarter to 27,300.
HDB attributed the increase to more renewal cases, greater demand and public awareness of need to seek HDB authorisation to sublet entire flats.
Subletting cases have spiked since rules were relaxed in 2005, with property agents reporting part of the demand driven by foreigners and permanent residents.
But rents remained stable in the first quarter, with median prices for four- and five-room flats hovering just under $2,000 a month.
Source: Today, 24 Apr 2010
HDB attributed the increase to more renewal cases, greater demand and public awareness of need to seek HDB authorisation to sublet entire flats.
Subletting cases have spiked since rules were relaxed in 2005, with property agents reporting part of the demand driven by foreigners and permanent residents.
But rents remained stable in the first quarter, with median prices for four- and five-room flats hovering just under $2,000 a month.
Source: Today, 24 Apr 2010
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