Sign In
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
Bengaluru: A recent post shared on social media once again sparked discussions revolving Bengaluru landlords and their shocking demands. The post featured an advertisement for a 4BHK fully furnished house with Rs 2.3 lakh monthly rental and Rs 23 lakh security deposit. Netizens were dumbfounded and lashed out at the city's landlords.
An X user named Caleb shared the ad along with his opinion and observations. He wrote, "Bengaluru landlords are the greediest in the world. Rs 23 lakh security deposit (12 months rent) is OUTRAGEOUS." Further, he went on to compare the security deposit systems in other countries like Singapore, Toronto, London, etc. He claimed that all those countries asked for only one or two months' rent as security deposits.
The post garnered the attention of many netizens. While many people went on to express their frustration and fury, others shared their observations. Some even gave suggestions on how to end the practice.
One wrote, "They are asking because people are paying…!!! No landlord wants their house unoccupied. Once people stop paying the security amount equivalent to 12 months of rent, they will bring down the security amount to 1 month."
They urged people to discourage landlords from asking such deposits by refusing to pay.
A user commented, "One makes them greedier if we simply go without negotiating to a sensible price point with them. I feel that's what happened to most of these stubborn landlords; few people really paid for what they asked, & the market is now disturbed."
Many highlighted how we lived in a low-trust society. "12 months is a little greedy, maybe. But mostly it is 5-6 months of rent. 
Low trust society (unfortunately) and high cost of housing (compared to other cities outside India) is a main reason," said a netizen. Another individual commented, "Three additional factors are to be considered here: rent yield compared to interest on loans, trust levels in societies, and demand/supply forces."
