passivity 0 Report post Posted April 4, 2010 Hello all, I am in the midst of renovating my private property. Can I ask when do I apply owner occupier concession for the private property? - is it when I start to live in my private property OR - when I have rented out my HDB? Thnk you. Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 5, 2010 (edited) Hello all, I am in the midst of renovating my private property. Can I ask when do I apply owner occupier concession for the private property? - is it when I start to live in my private property OR - when I have rented out my HDB? Thnk you. Believed you should have received both URA & IRAS's letters. Automatically, IRAS will charge 10% property tax to yr private property, don't worry: - Keep reno record date as earlier as possible, to proof you have moved in right after reno. - Start appeal to IRAS to switch charging P.T 10% to HDB unit(vacant) & 4% to private. - Also appeal to waive off PT tax for period when HDB unit is vacant - reason being looking for tenant....(I think min 3 month, can't remember, sorry) - Get tenant's biodata, send to HDB for approval mentioning TA when to be effected. - Sign TA, tenant move...... - Be careful a clause in TA mentioning Agent entitled to comm if same tenant continues after TA expires, see what u deem fit. Edited April 5, 2010 by bepgof Share this post Link to post Share on other sites
passivity 0 Report post Posted April 6, 2010 hello bepgof, Thank you for the reply. I wanted to clarify some of your points: - what is a reno record date? is this a invoice from the ID that says when reno was completed? - does the appeal to IRAS go online or need to go down personally? Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 7, 2010 (edited) hello bepgof, Thank you for the reply. I wanted to clarify some of your points: - what is a reno record date? is this a invoice from the ID that says when reno was completed? - does the appeal to IRAS go online or need to go down personally? Passivity, - The reno contract agreement/sale agreement with completion chart. - On line, but all documents must be scanned into soft copies. - Have to pay the 10% first, later IRAS will offerset in subsequent bill. Very much like personal income tax, they tax you more, you appeal, approved and offset later on. - I still keep record of 2006 TA when I rented out whole unit, if u want, PM me. Edited April 7, 2010 by bepgof Share this post Link to post Share on other sites
dreamhouse 0 Report post Posted April 11, 2010 hi, i am in a similar situation... got my private property, intend to move in, and then rent out my current HDB (i have met the minimum occupation period of 5 years)... still need to write in to HDB to get permission - would there be any reason why HDB would not allow me to rent out the whole flat? http://www.hdb.gov.sg/fi10/fi10323p.nsf/w/...at?OpenDocument Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 12, 2010 (edited) hi, i am in a similar situation... got my private property, intend to move in, and then rent out my current HDB (i have met the minimum occupation period of 5 years)... still need to write in to HDB to get permission - would there be any reason why HDB would not allow me to rent out the whole flat? http://www.hdb.gov.sg/fi10/fi10323p.nsf/w/...at?OpenDocument A clear Tenancy Agreement with tenants' particulars(scaned passport, employment pass, etc) is more than sufficient. IRAS wants to earn money also. -Need to check tenants' (if foreigners) valid identity and approved period of stay within Singapore... - Make sure # of occupant within limit. Edited April 12, 2010 by bepgof Share this post Link to post Share on other sites
ywtlhc 0 Report post Posted April 12, 2010 hi, i am in a similar situation... got my private property, intend to move in, and then rent out my current HDB (i have met the minimum occupation period of 5 years)... still need to write in to HDB to get permission - would there be any reason why HDB would not allow me to rent out the whole flat? http://www.hdb.gov.sg/fi10/fi10323p.nsf/w/...at?OpenDocument Hi, I had just rented my HDB flat and will soon move to my apartment. I just login in to HDB website (login vis singpass), apply online..pay $20 for 2years approval. You get instant approval then within a week, HDB will post you a letter. As long as your flat is 5yrs, it's should be fine. Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 12, 2010 (edited) Hi, I had just rented my HDB flat and will soon move to my apartment. I just login in to HDB website (login vis singpass), apply online..pay $20 for 2years approval. You get instant approval then within a week, HDB will post you a letter. As long as your flat is 5yrs, it's should be fine. Online approval is correct. HDB will write u a letter asking u to submit "support documents" -TA & tenants' particulars, photocopies this & that...be prepared. Edited April 12, 2010 by bepgof Share this post Link to post Share on other sites
ywtlhc 0 Report post Posted April 12, 2010 Online approval is correct. HDB will write u a letter asking u to submit "support documents" -TA & tenants' particulars, photocopies this & that...be prepared. Yup, already submited. TA, Tenant particulars, Stamp duty.. all done Share this post Link to post Share on other sites
dreamhouse 0 Report post Posted April 13, 2010 thanks for advise - so do i get approval only after confirming the tenant or should i get hdb approval first before starting to look for tenant... i am a bit concern that hdb may change policy and stop people from using HDB to earn rental income after they move to private property Share this post Link to post Share on other sites
bepgof 20 Report post Posted April 13, 2010 (edited) thanks for advise - so do i get approval only after confirming the tenant or should i get hdb approval first before starting to look for tenant... i am a bit concern that hdb may change policy and stop people from using HDB to earn rental income after they move to private property You have the point, could possibly happen likely only after GE: 1. 100% sure yr eligibilty to sublet. 2. Find tenent, agree terms & condition, do not sign anything yet. 3. Apply on line. Sign TA with tenant 4. Submit support documents later on. Edited April 13, 2010 by bepgof Share this post Link to post Share on other sites
dreamhouse 0 Report post Posted May 2, 2010 another question about renting out HDB... during loan tenure, is it possible to sell? (can we sell hdb with tenancy?) Share this post Link to post Share on other sites
therat 18 Report post Posted May 2, 2010 HDB don't allow selling with Tenancy As long as you have meet the MOP, you can sell the HDB Share this post Link to post Share on other sites
bepgof 20 Report post Posted May 2, 2010 (edited) another question about renting out HDB... during loan tenure, is it possible to sell? (can we sell hdb with tenancy?) Not quite understand yr questions: 1. Possible to sell hdb unit while it is being rented out & still under loan? - Why not? complicated parts are whether the flat is under HDB loan? Bank loan? The lawyer is supposed to work out the "sale proceeds" and split this proceeds among you and HDB (for hdb loan) , or you & bank ( for bank loan), cash & CPF portions.... - Be careful selling away a flat while tenants still in - there is a term (I can't remember) you should be cautious that which states the buyer is entiled to the fixtures (TV, furnitures, frig, bed sets........), and say TA is 12 months and you selling the unit away and say the 2nd appt is in the 9th month, the buyer is entiled to the remaining 3 month rentals....Anyone can advise the name of the "term" I mentioned? Edited May 2, 2010 by bepgof Share this post Link to post Share on other sites
dreamhouse 0 Report post Posted May 4, 2010 just realised that my question has some problem... what i mean is that if now i rent out my HDB flat with 12 months TA, and 3 months later, decide to sell the flat...will HDB allow? in the case of private property, the buyer will take over as the landlord for the remaining 9 months... but then this case it is HDB, and the buyer would not have satisfied the minimum occupation period to rent out the whole house... that's why i suspect HDB will not allow this, as therat pointed out... Share this post Link to post Share on other sites
