"Why Everyone Wants To Buy": Man Criticises Bengaluru's 6-Month Deposit Rule, Sparks Discussion
Needless to say, housing in Bengaluru is extremely expensive, and finding a decent place to rent or buy can be a real challenge. Recently, a Bengaluru-based tenant voiced his frustration with the city's rental norms-particularly the requirement of a six-month security deposit. Taking to Reddit, he shared that a recent move within the city made him understand why many people prefer to buy a flat rather than rent. The experience, he said, highlighted the hassles of renting and reinforced the appeal of homeownership.
"Tired of flat owners specially in Bangalore. Recently relocated to another location in Bangalore itself. First they take 6 months deposit and advance rent. When you want to vacate tell that we want to change everything as you have made things old," the redditor wrote, adding: "Don't even have the intention to pay deposit amount even after deducting high maintenance charges."
Bangalore flat owners rental rules .. now I understand why everyone wants to buy flat
by u/Mindless-Air3407 in indianrealestate
The original poster (OP) claimed that even people staying in a particular city on a short-term basis prefer to buy rather than rent, simply to avoid dealing with homeowners.
"That's why even people with short term stay in city wants to buy flat and move out of these extortion. I don't think here anybody sees flat as investment," the user wrote.
The Reddit post has sparked a discussion online about Bengaluru real estate and the benefits of purchasing a property.
"Agree. Bengaluru has to be the worst rental market in india. owners mentality is still stuck in early 2000s when IT guys were loaded," wrote one user.
"Bengaluru is under the impression that they've done something groundbreaking on the IT front, the reality is they only have a first mover advantage. With the upcoming of NCR, Hyderabad and Pune, Bengaluru is about to get a hard reality check in the upcoming years. Coming from Delhi, this city is a tier 3 downgrade on every front," said another.
"Tenants blame owners and owners blame tenants. I would rather want to be a tenant blaming an owner... rather than dealing with a tenant who doesn't vacate or pay rent and damage things," expressed a third user.
"Yeah I feel the security deposit should be in some kind of joint account with owner and tenant, rather than completely transferring to owner," suggested one user.
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