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ngunadi

Own Hdb + Private Property

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Was in discussion with my fren yesterday.

He mentioned, that if you have HDB and Private property, you can not stay in the private. You have to stay in HDB. Reason being:

- HDB is to stay, but not for speculation.

And this is not about MOP.

However, I never remember there is such a rule. Anyone can help to enlighten this? any link about it?

 

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Was in discussion with my fren yesterday.

He mentioned, that if you have HDB and Private property, you can not stay in the private. You have to stay in HDB. Reason being:

- HDB is to stay, but not for speculation.

And this is not about MOP.

However, I never remember there is such a rule. Anyone can help to enlighten this? any link about it?

yup - that's correct...and your address on the ic better reflect the HDB address or else your name is going to come out in the newspapers very soon......

 

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yup - that's correct...and your address on the ic better reflect the HDB address or else your name is going to come out in the newspapers very soon......

Is it a new ruling, or all along always have?

 

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if hdb more than 5 years, old flat with no grant. can i rent out and stay in condo?

didn't know there's a rule like that must stay in hdb..... hmmmm

For your case, actually 3 years can rent liao :)

 

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To sublet the entire flat, you need to satisfy the condition of a 3-year or 5-year Minimum Occupation Period (MOP).

You are allowed to sublet your whole flat if you have occupied your:

Non-subsidised flat (flat purchased from the open market without a CPF housing grant) for at least 3 years, or

Subsidised flat (flat purchased directly from HDB or from the open market with a CPF housing grant) for at least 5 years

In case you do not meet the MOP condition for subletting, you may still sublet your whole flat only if it is under any one of the following special circumstances.

Living in quarters provided by employer You/your spouse, your family members and authorised occupiers, are all staying in quarters provided by your employer.

Going overseas to work or study You/your spouse are going overseas to work or study and the entire family will be going with you

OR

You are leaving behind family members who:

Cannot take care of themselves, and

Will be moving out of the flat

Living in commercial properties You/your spouse are tenants, subtenants or owners of commercial property with living quarters

AND

You need to stay in that property, with your family members, to look after the business

Other circumstances You are the sole owner and occupier of the flat and need medical care from relatives because of an illness

OR

You are the sole owner and occupier of the flat and have been hospitalised for more than 6 months

OR

The flat owners have passed away and left behind an orphaned minor child (under 21 years of age)

The guardian or public trustee of the minor child may sublet the whole flat

 

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if hdb more than 5 years, old flat with no grant. can i rent out and stay in condo?

didn't know there's a rule like that must stay in hdb..... hmmmm

Must stay in HDB that is old rule. Few yrs back change liao.

As long as you had meet the MOP.

U can rent out and stay @ condo.

Alot of ppl are doing that. Especially now, the HDB rental very good return. can use the rental to pay their condo.

BTW, FYI.

Once you purchase a private property. All those rebate (PUB/ SC ) that announce during budget time, will be take away.

 

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first of all, HDB is for staying. Renting it out requires permission.

1. Criteria for renting out whole flat:

http://www.hdb.gov.sg/fi10/fi10323p.nsf/w/...at?OpenDocument

2. Criteria for renting out rooms:

http://www.hdb.gov.sg/fi10/fi10323p.nsf/w/...om?OpenDocument

as you can see, criteria for renting out whole room is not easily met, so few would openly declare it.

staying in condo does not allow hdb to be rented out fully (and openly declaring it), so many get around it by locking 1 room, obviously HDB will penalise when they find out.

many still take the risk though, as there are simply too many flats to be checked. HDB is concerned with bottom line as well, so why bother hiring people to conduct checks when there are no complaints? :)

the army rules apply "do what you want, but don't get caught"

 

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HDB resale, must stay or leave vacant. after 3 years can rent out whole hse

HDB new or with grant, must stay or leafe vacant, after 5 years can rent out whole hse.

Illegal to lock 1 room and rent the rest. These ppl fall under the above category.

But after the 3 & 5 year MOP. Everything goes :)

 

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The "time-bar" issue causes much confusion. The key is "MOP". MOP varies with different mortgage loan sources, and also the time( cut off date : 1 March 2009) the resale bought.

1. Say bought resale before 1 Mar 2009, bank loan. MOP=1yr, Must stay for 1 yr. Cannot buy private pty also. Can buy pte only after 1. Then can rent whole HDB out with HDB permission. This is my case, MOP = end dec 2010.

2. After 1/3/10, resale, MOP=3yr, bank loan, MOP=5yr, HDB loan. Bankloan so much cheaper than HDB, why take HDB yet kena 5yr.?

3. If you have pte, can buy resale any time MOP = 3 (pte loan)& 5(hdb loan), must stay at hdb for 5yr!.

Correct?

Edited by bepgof
 

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The "time-bar" issue causes much confusion. The key is "MOP". MOP varies with different mortgage loan sources, and also the time( cut off date : 1 March 2009) the resale bought.

1. Say bought resale before 1 Mar 2009, bank loan. MOP=1yr, Must stay for 1 yr. Cannot buy private pty also. Can buy pte only after 1. Then can rent whole HDB out with HDB permission. This is my case, MOP = end dec 2010.

2. After 1/3/10, resale, MOP=3yr, bank loan, MOP=5yr, HDB loan. Bankloan so much cheaper than HDB, why take HDB yet kena 5yr.?

3. If you have pte, can buy resale any time MOP = 3 (pte loan)& 5(hdb loan), must stay at hdb for 5yr!.

Correct?

Ah, the point 3 is the cause of confusion.

So, if I have a pte and buy HDB resale, no matter what, I have MOP of 3 or 5 years. But that is MOP, that doesn't mean I have to stay in the hdb, I can still stay in the pte and leave the hdb vacant. Correct?

 

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The "time-bar" issue causes much confusion. The key is "MOP". MOP varies with different mortgage loan sources, and also the time( cut off date : 1 March 2009) the resale bought.

1. Say bought resale before 1 Mar 2009, bank loan. MOP=1yr, Must stay for 1 yr. Cannot buy private pty also. Can buy pte only after 1. Then can rent whole HDB out with HDB permission. This is my case, MOP = end dec 2010.

2. After 1/3/10, resale, MOP=3yr, bank loan, MOP=5yr, HDB loan. Bankloan so much cheaper than HDB, why take HDB yet kena 5yr.?

3. If you have pte, can buy resale any time MOP = 3 (pte loan)& 5(hdb loan), must stay at hdb for 5yr!.

Correct?

1. Wah, your case, very chimp. If have pte hse, CANNOT take HDB loan !

2. If buy resale flat, must wait 1 yr before buy pte ? New to me.

3. HDB loan, for bankkrupt case, debtor cannot possess your property.

5 year MOP is for new flat or grant, not sure HDB loan is consider a grant.

3 or 5 year MOP start from the date your own the flat, legally under your name, nothing to do with loan

 

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