Property owners and real estate investors can generate income by renting out their property in Singapore. Most people will think about renting on Airbnb, while listing your property in Singapore on Booking.com is also possible. This is one of the most popular property websites that provides exposure to a large audience.
How to list your property in Singapore on Booking.com?
Booking.com is one of the world’s largest online travel websites. Here’s a step-by-step guide to help you list your property in Singapore on Booking.com:
- Create a Booking.com account: Create a Booking.com account here and add your property. Select the type that best represents your property, including Apartment, Hotel, B&B, and Alternative Place.
- Enter property information: Provide details about your property, including its name, location, and whether you use a channel manager. Ensure the address is accurate, as Booking.com might send a verification letter.
- Set the pricing: Add details about your rooms, including room type, name, and capacity. Set your prices, decide on the currency, and choose the payment methods you’ll accept, such as credit cards, debit cards, PayPal, and Apple Pay. You don’t need a Singapore bank account to receive payments.
- Facilities and services: Highlight the amenities and services you offer, like parking, breakfast, free Wi-Fi, and languages spoken. This will help your listing stand out in Singapore.
- Upload property photos: Add up to 20 photos of your property, showcasing its best features. Consider hiring a professional photographer in Singapore for high-quality images.
- Set the policies: Include details like your cancellation policy, check-in and check-out times, age restrictions, and any special requests.
- Payment information: Decide if you’ll accept credit card payments directly or use Booking.com’s payment system.
Did you go through all seven steps? Congratulations! You successfully listed your property in Singapore on Booking.com.
Is Booking.com legal in Singapore for renting out property?
In Singapore, it is legal to rent out property on Booking.com. However, several regulations are in place to prevent nuisance for residents. The legality of renting out property depends on the type of property and the rental duration. These are the most important regulations:
- Private landed/residential properties: Short-term rentals of less than three months are not allowed.
- Housing Development Board (HDB) flats: Short-term rentals of less than six months are not allowed.
Property owners can rent their property through Booking.com if the rental period exceeds three or six months. Besides that, property owners can start short-term rentals for services apartments and hotels, although you need to have a license to run a hotel in Singapore.
Taxes and fees when renting property on Booking.com
When you list your property in Singapore on Booking.com, you must consider both the Booking.com and the taxes imposed by the Singaporean government:
- Booking.com fees: The platform charges a 15% commission for each booking.
- Rental income taxes: Property owners pay rental income tax in Singapore. Ensure you declare this income and pay the necessary taxes. The tax rate for rental income depends on the property owner’s country of tax residency.
Are there better options than Booking.com?
While Booking.com is undeniably a global giant in the online accommodation booking space, it’s essential to consider other platforms that might offer distinct advantages, especially in specific regions. For instance, Airbnb in Singapore has emerged as a preferred choice for many property owners. The platform’s community-driven approach, transparent fee structure, and emphasis on local experiences resonate well with both hosts and guests.
Additionally, Airbnb’s review system and host-guest interaction often lead to more personalized stays, fostering trust and repeat bookings. For property rental in Singapore, Airbnb might just edge out Booking.com in terms of overall benefits and user experience.
Best property rental website in Singapore
Frequently Asked Questions (FAQs)
Is Booking.com rental in Singapore profitable?
The profitability of property rental through Booking.com in Singapore depends on factors like location, property type, and management. Generally, property rental in Singapore is highly profitable due to high demand.
Is it better to list my property in Singapore on Booking.com or Airbnb?
Both platforms have their advantages in Singapore. Booking.com has a vast reach, while Airbnb might offer a more community-driven experience. Consider your target audience and property type.
How much does Booking.com charge property owners?
Listing your Singapore property on Booking.com is free, but they charge a 15% commission for each booking.
Can I host my property in Singapore on Booking.com?
Yes, you can list your property in Singapore on Booking.com, but ensure you comply with local regulations. Short-term rental of fewer than three months is not allowed for private residential properties, while HDB flats can’t be rented out for under six months.