According to Yahoo News, Singapore is bound to join a growing list of countries that have tightened the rules and regulated Airbnb’s disruptive services. The regulations will also hit similar home-sharing platforms.
One of the measures could the imposition of fines against recalcitrant home-owners who do not remove their properties from Airbnb listing after fulfilling the rental period imposed.
The overall belief among authorities in places that are seeing a boom in short-term rentals is that these properties should be taxed in some special category beyond just traditional property tax.
What makes Singapore a unique case is the fact that strict rules haven’t slowed down the supply or the demand for short-term properties, said the portal.
Tourists looking for rentals in Singapore are caught in the middle of the battle over short-term rentals. While new rules are on the books, Singapore doesn’t appear to be cracking down very harshly on property owners with listings that are in violation of those rules.
Authorities could begin imposing fines and other consequences on property owners. This could cause them to pull their listings or cancel reservations at the last minute.
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