Why do property owners ask for 10-11 months security deposit while renting it out?

Q: I am looking for a flat on rent but till now no one has agreed on a lesser deposit than 10 months... Why is this so ?

psood5, Apartment Resident

29th March 2012

Rentals in Bangalore

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Here is a petition trying to address this issue, please sign it if you are either a tenant or a progressive landlord. This change can be brought by means of legislation. https://secure.avaaz.org/en/peti...

Saurabh,

26th August 2014

Comment

I think you have to try talking to the owners. First you have to make clear as how much monthly rent and security deposit you can afford. Some owners are ready to rent their house with a lesser deposit if offered a little higher rent. In areas where demand is more the owners are not willing to negotiate. But there are few areas in the city outskirts where you can find houses at a lesser deposit too.

Soundarya G S, Bangalore

30th March 2012

Comment

I have lived in few cities like Ahmedabad, chandigarh, noida, jaipur during my professional life everywhere it is just 2 - 3 months advance. Let us say the tennant does not pay one month rent and vanishes, there is still 2 months rent available with the landlord.

I perfectly understand the logic of taking one months rent as painting charges, but 10 -11 months is just too much... :(

For a salaried person like me willing to shell out 16-18k rent per month is fine, but giving a desposit of 1.5-1.8 lakhs is not possible with my limited means.... can you give some suggestions what to do :(

psood5, Apartment Resident

29th March 2012

Comment

The property owners take some amount in advance to avoid future complications. The tenant may vacate the house without informing and without paying rent or he may do some damage to the house. So the deposit acts helpful in such situations.

Soundarya G S, Bangalore

29th March 2012

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