10 months ago
Bengaluru Landlords Demand High Rent Deposits for Office Spaces
Imagine you want to rent an office in Bengaluru.
Landlords are asking for a huge amount of money upfront, like 10 months of rent!
This is making it hard for startups.
People are complaining because it feels like a down payment to buy the property.
Landlords say they need protection, but this makes it difficult for businesses to start up.
This goes against rules that limit deposits, and could hurt Bengaluru's economy.
Bengaluru landlords are demanding up to 10 months rent upfront for office spaces.
This practice puts financial strain on startups.
The Model Tenancy Act caps deposits; however, enforcement is lacking.
Tenants report issues receiving their full deposit back.
Landlords cite the need for protection against property damage.
- Who
- Landlords and startups in Bengaluru.
- What
- High rent deposits are being demanded for office spaces.
- Where
- Bengaluru, India
- When
- Recently
- Why
- Landlords seek protection, while startups face financial strain.
Tenants' Perspective
Landlords' Perspective
Deposit Amounts
Tenants' Perspective
High deposits create financial strain and hinder startups.
Landlords' Perspective
Large deposits provide security against property damage and unreliable tenants.
Key facts
- Issue
- High rent deposits for office spaces in Bengaluru
- Affected Parties
- Startups and tenants
- Deposit Amounts
- Reported to be up to 10 months rent upfront
- Location
- Bengaluru, India
- Related Legislation
- Model Tenancy Act (violated by practices)
Quotes
Chandralekha MR
Founder of fintech startup Dime
“I was born and raised here, but this number still felt unreal.”
businesstoday.in
“Reddit is filled with these horror stories.”
businesstoday.in
Sources
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