A new proposal is being
widely discussed in Singapore that aims to allow private properties to offer
short term rentals. Till now, only commercial properties are offering short term office rental in
Singapore.
According to the proposal,
private properties should be allowed to be used for short term rentals to give
a boost to the country’s tourism industry as well as to add to the tax revenue
that the government generates.
This proposal has been
derived from the model on which many short term office rental
work in other parts of the world, which involved private properties being given
out on rent for a short duration of time.
It is said that since
accommodation charges for visitors tend to shoot up during the peak seasons,
allowing private rentals will not only help the prices to remain within reach
for most but also reduce the burden on hotels and other lodging facilities in
the country.
The proposal also points towards regulations to
help solve issues related to privacy and overuse of common amenities that may
arise. The landlords are also to be made accountable for verifying the
credentials of their tenants and for ensuring that they make proper tax
submissions to the government.
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