Bengaluru’s Rental Market Under Scrutiny

Bengaluru’s rental market has once again become a hot topic of discussion, following a viral social media post highlighting an exorbitant security deposit requirement for a 4BHK apartment. The fully furnished property, located in Bennigana Halli, demands a security deposit of Rs 23 lakh, equivalent to 12 months’ rent at Rs 2,30,000 per month. This unusual demand has sparked widespread debate about the city’s rental culture and practices.

Global Comparisons Highlight Disparities

The post, shared by Canadian digital creator Caleb Friesen on social media platform X, criticized the high deposit requirement, contrasting it with global rental norms. In major cities like New York and Toronto, tenants typically pay a one-month deposit. Singapore requires one month per year of lease, while San Francisco asks for two months. Dubai’s deposits range from 5% to 10% of annual rent, and London requires 5-6 weeks’ rent. The stark difference in Bengaluru’s demand has raised questions about the fairness and feasibility of such practices.

Social Media Reactions and Debate

Friesen’s post ignited a lively discussion online, with many expressing shock at the 12-month deposit demand. Some users pointed out that while high deposits are not uncommon for premium properties in Bengaluru, they are usually around 5-6 months’ rent. The debate highlighted issues such as the city’s “low-trust rental culture” and the lack of tenant-friendly regulations.

Calls for Regulatory Intervention

The conversation also touched on the need for regulatory intervention to address these steep demands. Some users questioned why price controls exist for luxury items like movie tickets but not for essential housing needs. The discussion underscored the challenges faced by tenants in Bengaluru and the potential need for policy changes to create a more balanced rental market.