Mar 28, 2010
Case #1: Fined
The owner had locked up one room in her four-room flat and sublet the rest of it to a family.
But she did not live in that room. She was staying in her parents' home, which is a private property.
This case of illegal subletting was uncovered during a routine check by the HDB.
It found out that the owner had bought her resale flat in 2006 but had not been living continuously in it.
Instead, she had sublet her flat without the HDB's approval since July 2008.
This was short of the five years that she must live in her flat, having bought it with a CPF housing grant, before she could sublet it out.
She was receiving $1,500 a month in rent, according to a written statement that the tenant gave to the HDB.
The tenant also confirmed that the owner had locked up one room, but was not living in the flat.
The owner eventually resumed living in her flat and paid HDB a fine of more than $6,000.
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In business for over 30 years, success in providing real estate investment opportunities to clients around the world is a simple, yet effective separation of roles and responsibilites. The four pillars of strength guide the land from the research and acquisition, through to the exit, including the distribution of proceeds to our clients ......
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To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
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