Subletting a condo/apartment

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melissachua
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Subletting a condo/apartment

Post by melissachua » Sun, 02 Mar 2014 2:06 pm

Aloha.

I'm a young Malaysian intending to relocate to Singapore for work. I am fairly familiar with Singapore as I worked briefly in NUS before. And love this city.

I intend to rent a 3+1 apartment/condominium anywhere near the city circle line (preferably near northeast). I would then sublet 3 of the rooms to other tenants (and keep a small room for myself).

As I've just stepped out of post-graduate school, I wonder whether my plan is feasible. I have a reasonably tight budget and am seeing this plan as a small investment.

Opinions please?

Thank you! :)

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beppi
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Post by beppi » Sun, 02 Mar 2014 5:53 pm

Feasible: Yes.
You need the landlord's permission to sublet, and you need to ensure that your subtenants are on residence visa at all times.
You might also not get enough rent from the subtenants to cover their share of the main rent, since a condo with three bedrooms that can the sublet for, say, S$1000/month will cost more than S$3000/month to rent as a whole.

x9200
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Post by x9200 » Sun, 02 Mar 2014 6:22 pm

I am curious whether this would be legal. I mean getting extra income from subletting while being on any work pass.

FaeLLe
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Post by FaeLLe » Wed, 05 Mar 2014 6:48 pm

x9200 wrote:I am curious whether this would be legal. I mean getting extra income from subletting while being on any work pass.
Technically it is not an income as you are transferring payment between parties to offset rent payment...

x9200
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Post by x9200 » Wed, 05 Mar 2014 7:15 pm

Yep, if this is the case but I have the impression OP wants the sub-tenants to contribute to her payments too (of course not officially). If at the end of the day what she will be paying is below the market value then I would consider the difference as an income.

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