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Hi,

Unfortunately, you will not be able to enjoy the owner-occupied concessionary rate once you rent out your bungalow. In your situation, do note that you will also need to take into consideration of rental income which is taxable and yet rental expenses is not tax deductible. You'd need to do your sums and make sure it makes financial sense for you at the end of the day.

Your best bet to make up the higher property tax would be obviously to secure a higher rent for your bungalow and to structure the rental agreement by apportioning part of the rental income towards the maintenance of the property as well as rental of furniture if applicable.

Best regards,
Jeron Lee
Jones Lang LaSalle Residential
Mobile/WhatsApp: +65-9001-5060 
Email: jeron.lee@jllassoc.com Read More

Good day Mr Walter,

Besides renting your bungalow and renting another terrace, having to pay higher property tax plus taxable income from rental , would you like to sell your property at all time record high now ? i cannot be certain prices will stop climbing though,

Please call me if i can serve your housing needs.

Joanne Chia
Huttons property
Hp 83333 3327
Chia_joanne@yahoo.com.sg Read More