There are more than 5000 Airbnb listings in Singapore. URA has yet to offer a statement on modifying their guidelines to regulate the high demand for short-term rentals for private properties.
Airbnb offers an alternative income if your property
has yet to find a buyer, a long-term tenant or is just in limbo due to the poor real estate market conditions.
Most expats do not even bother renting out their apartment on Airbnb, because there is just too much hassle in managing guests, especially when they are overseas. This is a shame considering a homeowner can make 2 times the revenue when they actually manage and rent out on Airbnb.
There are freelancers in Singapore that offer such services, but they can only manage a few properties on their own to maintain service quality. And besides, safety and security is a big concern if you let in strangers into your homes. Not all of us know or trust someone who can manage our listings on Airbnb. I'm setting up a company here in Singapore to address this issue. What do you all think?