If you are thinking of renting out your apartment, there are some rules you should know.
Parliament passed a new law on Feb 6 that forbids private apartment owners from renting out their whole flat or rooms for short periods on websites such as Airbnb.
In this episode of askST, Straits Times journalist Rachel Au-Yong highlights the rules and the penalties for flouting them.
For instance, you are not allowed to rent out your home for less than six months.
If your tenants are not related to each other, you can only have a maximum of six people, down from eight.
If you have more than six tenants, your home will be considered a dormitory and you will have to apply to the Urban Redevelopment Authority (URA) for permission.
Be careful not to break the rules.
If you're a private home owner, you could face up to a $200,000 fine or up to a year in jail.
For Housing Development Board (HDB) flat owners, you may face a financial penalty. Some flat owners have also had their flats repossessed by the HDB.
So how can you go about renting out your flat?
Watch the video to find out more.