Lower rental fees under Parenthood Provisional Housing Scheme to start in April

Build-to-order flats take quite awhile to complete. If you'd like a private space for your family, consider the Parenthood Provisional Housing Scheme. Parked under the Marriage & Parenthood Package, this scheme is great for those who need a temporary home before their new homes are ready.

What Is The Parenthood Provisional Housing Scheme All About?

Under the Parenthood Provisional Housing Scheme, eligible married couples or HDB flat applicants under the Fiancé/Fiancée Scheme get to enjoy rents that are much lower than those set by private landlords. A parent who is widowed or divorced with kids can also apply to rent a flat under this scheme.

This is a good option if you don't have a lot of money to roll around in and you value having your own private space with your significant other while your home is being constructed. To find out if you are eligible to rent a Parenthood Provisional Housing Scheme flat, head on over to the HDB website here.

Lower Monthly Rents Starting April 2017

Depending on the location and type of Parenthood Provisional Housing Scheme flat you are renting, your monthly rental varies. And from April 2017 onwards, your monthly rental may be slashed considerably by up to $400.

The decrease in monthly rental rates for Parenthood Provisional Housing Scheme flats will be between $200 and $400. Also, take heart that the lower rents will apply to existing and new tenants. This announcement was made public by National Development Minister Lawrence Wong.

Money isn't that easy to earn and every single dollar counts when most of us are just normal people (think: not ministers, MPs, etc.) trying to make ends meet. The cut in monthly rentals for flats under the Parenthood Provisional Housing Scheme should be a welcome relief for young couples or families since they will not be susceptible to random raises in monthly rents unlike those who rent from private landlords in the open market.

This article was first published on Get.com, a lifestyle and personal finance website that advocates financial literacy and helps consumers get more for their money.