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rewrite this title and make it good for SEO’You are insanely lucky if you get…’: Netizens react after Bengaluru man exposes ‘biggest scam’ in rental security deposit

Business Today Desk by Business Today Desk
November 16, 2024
in Business Finance
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rewrite this title and make it good for SEO’You are insanely lucky if you get…’: Netizens react after Bengaluru man exposes ‘biggest scam’ in rental security deposit
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In a tweet that resonated with many, tech entrepreneur Varun Mayya shared his frustrations about a common issue faced by renters in Bengaluru.

He tweeted, “The biggest scam in Bangalore is when you are leaving an apartment and the owner sends you a fraction of the security deposit claiming ‘damage’ or something despite no evidence. I’ve lived in maybe 10 apartments and this illegal retention of deposit has happened every single time.”

Mayya’s tweet gained significant attention, amassing 1.1 million views, as other renters from across India joined the conversation, sharing similar experiences. This sparked a broader discussion about the widespread issue of unfair retention of security deposits.

In addition to the deposit retention issue, renters in Bengaluru are also facing sky-high security deposits, with many landlords reportedly demanding 10 to 12 months’ worth of deposit.

the biggest scam in bangalore is when you are leaving an apartment and the owner sends you a fraction of the security deposit claiming “damage” or something despite no evidence. I’ve lived in maybe 10 apartments and this illegal retention of deposit has happened every single time

— Varun Mayya (@waitin4agi_) November 13, 2024

A commenter pointed out that this problem is not limited to Bengaluru, extending to other cities like Gurugram and Mumbai. “You are insanely lucky if you get >70% of your security deposit back,” one user shared.

In response to Mayya’s tweet, one user humorously suggested a workaround: “The best way to avoid this is to hand over the apartment to a new tenant and take the deposit from them.” However, other users pointed out that such informal solutions might not always be practical, particularly when dealing with uncooperative landlords.

Many renters shared their experiences of landlords withholding deposits without the legal proof required under the Karnataka Rent Control Act. According to the law, landlords must return the full security deposit within 30 days after a tenant vacates unless they can provide itemized receipts or evidence of necessary repairs. However, enforcing these rules remains difficult. One commenter shared how their friend in Mumbai had to call the police to recover part of her deposit after her landlord initially refused to comply.

In contrast, a user from Mizoram highlighted the starkly different rental culture in the northeastern state. “Nobody even knows what security deposits are over here. No rental agreements either, just trust,” the user said.

Some commenters mentioned that they managed to reclaim their deposit only by sending legal notices, a process that proved effective but time-consuming. However, for many tenants, the time, effort, and resources required for legal action make it an unattractive option, and they ultimately write off part of their deposit as a lost cost.

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