10 months 'security deposit' in Bangalore

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Arion003
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Re: 10 months 'security deposit' in Bangalore

Post by Arion003 » Sat Dec 04, 2010 9:05 pm

Thanks Rajiv. Appreciate your support. This is a small step but a significant small step. We're already hearing of real world examples where people are quoting from the blog or have used the pointers in the article on this site to negotiate against this absurd custom.

Its good to have free thinkers like you and so many others who have already posted on this thread. We're all being the change we wish to see and that's the best part. :)

tew-ts
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Re: 10 months 'security deposit' in Bangalore

Post by tew-ts » Thu Mar 17, 2011 6:05 am

hi all, i from singapore and recently we are looking to set up office in bangalore, so far bangalore ppl are very friendly here, however, i faced the same problem on 10months security deposit issue, I just want to double confirm again whether is it a custom in bangalore only? 3months is reasonable but 10months is too much!!! The landlord even want to increase to 12months, what should i do and how should i negotiate? furthermore, the agent is CBRE, once of the leading property agent in the world....

Thanks for reading...

lorea
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Re: 10 months 'security deposit' in Bangalore

Post by lorea » Fri Jun 17, 2011 5:06 pm

Hi!!
I will travel to Bangalore next week and I would like to know how is the accommodation near the Manipal Hospital, is it expensive, dangerous??
Any recommendation would be more than welcome..

Cheers

Arion003
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Re: 10 months 'security deposit' in Bangalore

Post by Arion003 » Wed Jun 22, 2011 2:40 pm

Manipal Hospital is on the old Airport Road and its a nice area. Its also a stones throw away from the seven star Leela hotel so I would say no, its not dangerous. Its not a particularly expensive neighbourhood, I would imagine is should be pretty affordable.

blore-resident

Re: 10 months 'security deposit' in Bangalore

Post by blore-resident » Thu Nov 17, 2011 2:20 pm

The rental agreement is for 11 months and owners take 10 months rent as deposit. This is because of the legal obligation on owner's part to *not* to rent it out to some other person in case the current tenant is not seen for long time after checking in. Say, for ex, a person entered into agreement in january valid till november, and he is not to be seen after february, the owner has no right to cancel the agreement as the party can come back home anytime during the agreement period. So, owners wait for the agreement period to get over and the agreement to lapse and they will not return the deposit they received at the beginning considering it as monthly rent for the agreement period.

Arion003
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Re: 10 months 'security deposit' in Bangalore

Post by Arion003 » Wed Nov 30, 2011 2:32 pm

I am sorry to say this is the most nonsensical argument I have ever heard.

1. It is the obligation of a tenant to pay rent monthly whether he is living there or not;
2. In the event that rent is not paid every lease provides for a provision of termination under which a landlord can for non-payment of rent, terminate the agreement and end the tenancy. As soon as termination is effected the tenant must move out or be thrown out.

Your argument makes a weak case of 10months' deposit even weaker.

Your "what if the tenant does not move out" angle doesn't hold any different in Bangalore than in does anywhere else in the world. Yet only here do landlords feel the need to extract 10months rent worth of deposit.

vee

Re: 10 months 'security deposit' in Bangalore

Post by vee » Mon Jan 16, 2012 12:02 am

blore-resident wrote:The rental agreement is for 11 months and owners take 10 months rent as deposit. This is because of the legal obligation on owner's part to *not* to rent it out to some other person in case the current tenant is not seen for long time after checking in.
NO, your argument is crap. Absolutely crap.

AMIT SINGH THAKUR

Re: 10 months 'security deposit' in Bangalore

Post by AMIT SINGH THAKUR » Mon Jan 23, 2012 2:50 pm

YA THATS TRUE..ITS REALLY SAD THT WHEREVR WE R GNG FR ROOMS SECURITY DEOSITE IS THT MUCH THT YU HAV TO THINK WHETHER TO CHANGE THE EXISITING ROOM OR NT..COZ EVRYBDY S AGREE TO PAY THT MUCH(NOT BY WILL) OWNERS HAV STARTED THNKING THT THS IS THEIR RIGHT TO TAKE SECURITY AS MUCH AS THEY WANT N TO KEEP IT SAFE IN FIXED DEPOSITES.. PATHETIC .GUYS......

krishnappasvictim
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Re: 10 months 'security deposit' in Bangalore

Post by krishnappasvictim » Mon Feb 20, 2012 12:32 pm

As mentioned in earlier posts, 10 months security deposit is peculiar to Bangalore. However, more than paying the deposit, the 'getting back' is painful. In some cases, like in mine, one may have to lose the entire amount as the landlord thinks that the tenant has nowhere to go even if he refuses to pay back. And as there is no fast track redressal mechanism in place, the landlord is probably right. If you are planning to take a house in Whitefield, stay clear of Krishnappa of Satya sai layout, Whitefield, Bangalore. As is common among Bangalore landlords, Krishnappa too feels that the security deposit that tenants pay is his property. There is a police complaint against him but he, i guess, is made of sterner stuff and is continuing to swindle money out of hapless tenants. I hope there is a toll-free number or a special cell where tenants can complain against fraudsters masquerading as landlords.

DINESH

Re: 10 months 'security deposit' in Bangalore

Post by DINESH » Thu Apr 19, 2012 2:06 pm

here everyone is mentionting the problem of the tenents what about the house owner. He own the house and he will decide how much he should get on Rent.If Tenents are ready for that those people only should go to him. I own two flat i do give it for rent. But if the person who is comming to enquire all these things which is listed in the law then defentilty i will not give my flat to them. you tell me why should i give? Every one should change there mindset that is not goving to happen in india.I Like the way you mentioned the Deposit should be two months. I am giving furnished flat for rent and rent may be 12000. If i quote just 20000 as deposit then where is the security for the items i am providing so i will charge more. I do not this it is a wrong anywhere.And i am as an owner i can tell you THERE IS NO FREE LUNCH. IF YOU CAN AFFORD THE RENT THEN ONLY TAKE THE HOUSE FOR RENT NO OWNER IS BEGGING ANYONE TO TAKE THERE HOUSE FOR RENT!!!!!!!!!!!!!!!!

RVajpayee

Re: 10 months 'security deposit' in Bangalore

Post by RVajpayee » Sat Apr 21, 2012 12:53 am

DINESH wrote:if the person who is comming to enquire all these things which is listed in the law then defentilty i will not give my flat to them. you tell me why should i give? Every one should change there mindset that is not goving to happen in india
Shame that these kinda a$$holes are there in India. Did not expect in Bangalore atleast. :evil:
His way of writing makes it clear he is not from the educated mass of Bangalore. May be someone who got a lot of money by doing realestate frauds and is scared of laws being made against him. :twisted:

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Re: 10 months 'security deposit' in Bangalore

Post by skyavenuerealty » Tue May 01, 2012 4:26 pm

Bangalore is a very nice place to live. But the property price are going higher and higher in the city. Above all you have to pay high amount of security deposit for the rental house.

Alexa

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Post by Alexa » Sun May 20, 2012 8:38 am

Why not write to your current lranlodd and ask him/her if you can use your security deposit for your last months' rent. If they will permit that, then you don't need to do a payday loan.Otherwise, try to borrow it from family members, friends, or if you belong to a church, see if they will help out. payday loans are killers and you will pay a fortune to borrow this.Another option, since your score is pretty high, is to go to the bank or credit union where you have your checking account and ask them for a personal loan. They will usually approve an amount this small on the spot.If all this fails, see if you can get a postponement for a month on some other big bill such as utilities to free up some cash that way.

srividhya
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Re: 10 months 'security deposit' in Bangalore

Post by srividhya » Mon May 21, 2012 2:18 pm

Please help us. We are a couple staying in rented house. We have paid ten monts advance and moved in without enquiring anything. Now the landlord is imposing so many conditions that were not informed before. He is witholding water totally. Everday we are suffering and crying, I am going into depression. We want to move out as soon as possible. But that guy is arguing he will not give advance as we are moving before 11 months. Is this the way people who don't know local language are treated in bangalore? Can somebody give any legal help. The landlord's address is

No.259, 7th main, 80 feet road, indira street first cross, subbannapalya extension,
bangalore-33

The guy name is Shilpachar.S

Baskar

Re: 10 months 'security deposit' in Bangalore

Post by Baskar » Tue May 22, 2012 12:10 am

srividhya wrote:But that guy is arguing he will not give advance as we are moving before 11 months.
Nowhere in a rental agreement its written that money won't be returned before 11months. The only thing usually mentioned is the 1-2 months notice you have to give the landlord.

Ask some local friends/colleagues to talk wid the landlord and do 'record' the conversation. (on your mobile's sound recorder maybe) Certainly something can be done for this illegal activity. I can request this forum staff to do somthng as well. But first do let some friends talk to the owner.

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