April 30, 2008
Why are security deposits so high?
The security deposit in Bangalore for renting an apartment/house is 10-months’ rent. This is primarily to insure the owner against damage to the property, non-payment of rent, etc. In Paying Guest (PG) accommodation, you can get away with a two-month or three-month deposit, but for renting a place, you pay the full price.
I get that [...]