If an owner has a private residential condo unit, what are the implications or requirements?

Owners must abide by URA’s rules which require a minimum tenancy of 3 months for a private condominium unit and a maximum of 6 occupants (unless it is occupied by a single family with no subletting). Daily or weekly rentals are not allowed. The property cannot be converted to a workers’ dormitory, meaning it cannot house more than 8 workers. If the unit is owner-occupied only for residential purposes, it may qualify for owner-occupier tax rates. If the owner wishes to operate a business there, a Home Office registration is needed. Any existing HDB flat must generally be disposed of if the owner is obtaining certain new government-assisted properties.