Hi, are owner's passing on the entire maintenance on to the tenants ?

Q: Since the Owners are getting back their deposit money they should absorb the maintenance. If passed on to tenants, it will increase the rent &make Mantri Tranquil less attractive for tenants. What's happening on this front? Will be happy to have some information.

Mayank Pincha, Apartment Resident

4th December 2012

Neighborhood Issues in Mantri Tranquil, Kanakapura Road

maintenance issue

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As such while the deposit was held, that money was not available to be spent by the owner. Now that 2.5 lacs deposit is being released, it could be kept in an FD in Bank & generate some interest per month which can be paid by the owners towards maintenance.
So the question owners & tenants should ask, is if market is ready to absorb the additional maintenance. If the answer is No, then even in the short term if tenants are forced to absorb it, in the medium term people will realize & rates will come down. In the mean relationships would be lost & money will spent on agent's fees & movers & packers fees and either side will be the loser.

Mayank Pincha, Apartment Resident

5th December 2012

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Obviously the tenant will use the flat. Thats why he is a tenant & he pays rent & for that. If the entire maintenance is passed on to tenants, it will disturb the supply & demand situation. There are flats that are currently vacant and a lot of people are starting to move to them. Otherwise there are flats nearby like Sobha Sunscape etc where rates are still unchanged. The reason there was no maintenance earlier was because owners had given deposits. If deposits were not to be returned & only additional maintenance was charged it may have been around Rs. .75 -Rs. 1.00 psft. But the maintenance is currently fixed at 2.75 per sft only because deposits are being returned. So the entire 2.75 is not a burden to the owner. Its only the additional amount of around Rs. 1 per sft.

Mayank Pincha, Apartment Resident

5th December 2012

Comment

I think you are right.. so what do you think is right in this case..

Mohan, Bangalore

6th December 2012

Hi Mayank, tenant only will have to pay maintenance fees since it is the tenant who will be using the flat, facilities and common area.. If owner has paid deposit then it will be returned to him by the association. But if it is funds required for repairs and new installations, etc. then owner will be paying it.

Mohan, Bangalore

5th December 2012

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