Straits Times publishes fake news: HDB no longer landlord of public housing flats

I refer to ST article by Janice Heng, “Let HDB landlords enjoy their rent“.

The title of this propaganda piece is erroneous because there is only one landlord, ie HDB.

Buyers of HDB flats sign a lease agreement and are only lessees.

As owners, there are financial obligations such as contributing to a sinking fund.  This helps to reduce government expenditure.  But there has been only 1 owner.

Lessees also need not pay property tax and the PAP appears to have been gradually reducing this to zero since the HDB ‘owner’ has been exposed.

To confirm ST’s fake news, below is an image of the lease document stating HDB as the lessor.
Image result for hdb lease document

ST should correct its erroneous article as HDB flats/rooms are rented out by lessees to subtenants.  Although HDB has amended its website and deleted “subtenants” and “lessees”, Singaporeans should not be fooled as legally, we are still lessees.

There’s only one landlord for the 1 million flats under HDB’s management.  Not ‘landlords’.

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2 Responses to Straits Times publishes fake news: HDB no longer landlord of public housing flats

  1. Phillip

    Actually in other countries tenants do pay a part of the property tax which is included in the rent BUT the tenants can then deduct a percentage and get a tax rebate.

  2. Sinkie says:

    HDB are indeed the actual owner … that’s why govt says you’re “sub-letting” your flat or room. If you’re the actual owner e.g. condo, then you’re “letting” out your apartment or room.

    Regarding making lessees pay tax etc, HDB is using triple net lease whereby lessees have to pay property tax, insurance, and maintenance town council charges. This is more common in US for riskier or poorer tenants, and is a favourite type of leasing investment by Warren Buffett.

    So in S’pore, sinkies are the sheep/cow being sheared/milked on by master HDB/PAP investor.

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