Hi Anonymous, thanks for writing to us on AskGuru.
You can choose to either stay in both properties if you have the financial means. However, why not consider renting out your HDB and live in your condominium?
This is because eligible flat owners are who also owners of a private property are allowed to stay in their private property and sublet their HDB flat. However, prior approval from HDB is needed prior to subletting.
If you are thinking of doing so, you must meet all of HDB's eligibility conditions such as its 5-year Minimum Occupation Period (MOP), non-citizen quota for renting out your flat and so on. You can refer to HDB's link here: https://www.hdb.gov.sg/cs/infoweb/residential/renting-out-a-flat-bedroom/renting-out-your-flat
Do note that owners of resale HDB flats purchased from the open market without a CPF Housing Grant and who have occupied their flats for at least 3 years are allowed to sublet their whole flat. Owners of HDB flats purchased directly from HDB or the open market with CPF Housing Grant and who have occupied their flats fr at least 5 years are allowed to sublet their whole flat. You must pay a one-time administrative charge of $20 when applying for your subletting approval. You are not allowed to lock-up one room and sublet the remaining rooms while staying elsewhere. Doing so is a serious infringement of HDB's rules.
You must also abide by HDB's rules and regulations. For example, you can only rent out your flat for at least 6 months. If you are renting out your unit to all Singaporean or Malaysian tenants, you are allowed a maximum period of 3 years per application. For an application involving non-Malaysian non-citizens, the maximum rental period per approval is 2 years. There are also limits imposed on the maximum number of tenants. For the full list, you may refer to HDB's link here: https://www.hdb.gov.sg/cs/infoweb/residential/renting-a-flat/renting-from-the-open-market/regulations-for-renting-out-your-flat
Once you have received HDB's approval, you must log in to your HDB's account using your SingPass to register your tenants.
As a flat owner subletting your flat, you must ensure the following:
1. Ensuring the eligible status of the sub-tenants.
2. Ensuring no over-crowding and adhering by the ratio of sub-tenants per flat type.
3. Ensuring that the sub-tenants have entered and are remaining in Singapore lawfully at all times throughout the entire duration of the sub-letting agreement.
4. Prohibiting sub-tenants against further renting it out to flat to another tenant.
5. Informing the Comptroller of Property Tax for the subletting and HDB of any changes in subletting.
6. Reoccupying the flats and ensuring the sub-tenants vacate the premises when the lease ends or when sub-letting is no longer permitted by HDB.
7. Surrendering the flat in the event that HDB repossesses it.
Once you rent out your HDB flat, you will not be eligible for the Service & Conservancy Charge (S&CC) rebate extended as part of the GST offset package for low-income households throughout the subletting period.
Do also note when you rent out your entire flat, you will need to pay higher property tax. Non-owner-occupied HDB flats are taxed at 10% of their Annual Values (AVs) as their AVs do not exceed $30,000. For more information, please refer to IRAS's link here: https://www.iras.gov.sg/irashome/Property/Property-owners/Learning-the-basics/Essential-Property-Tax-Information-for-HDB-Flat-Owners/
Hope this answers your question.