Prospective tenants see surge in rents, face uncomfortable queries

Bengaluru: The expense of living in metropolitan areas has gone up along with their development, making it more difficult for those residing in rental properties. Finding a rental home in the City is getting harder as house hunters report not only rate hikes following the pandemic but also having to cope with some fairly peculiar requirements from landlords. According to a study by NoBroker, Bengaluru experienced a 33 percent increase in rental inflation over the previous five years. After offices reopened, metro cities like Bengaluru experienced a sharp increase in rental prices due to the lack of unoccupied landed properties in the city centres where key companies are located.

"Approximately 74% of respondents thought that rents for similar properties had gone up. For instance, houses that were once available for rent at Rs 20,000 are now going for Rs 25,000 to Rs 30,000," stated the report. It also added that Bengaluru's HSR Layout, Whitefield, Marathahalli, Bellandur, and Koramangala are the rental hotspots.

Tech Town is presently reviving after two waves of COVID-19 owing to the hybrid work culture that is bringing individuals back from their hometowns. The returnees must deal with a new issue, though: rising rents.

Many working professionals who returned to the City after two years because their workplaces eliminated the work-from-home option claim that the rent increased because the property owners claimed they hadn't raised the rent during the pandemic for two years.

Vignesh, a resident of Koramangala, was forced to relocate recently since the landlord of the apartment he had lived in for more than four years increased the rent by more than 30% this year.

Gangadhar, a real estate broker, claimed that most landlords had increased rent during the previous six months, particularly when the demand for homes increased as people who had left the city during the pandemic returned. Since offices have resumed operations, he continued, "most are raising rents to compensate for the loss of income during the past two years."

In addition to this, rising rents are not the only difficulty encountered by potential renters. They must deal with inquiries like "What university did you attend?" or "What is the background of your family?" and so on. These are the inquiries made by brokers and landlords that have lately been discussed on social media.

Tenants recently posted on social media about their conversations with owners and brokers. In one of the screenshots, the broker informed the person that the owner preferred to give their home to IIT, IIM, ISB graduates or working professionals like Chartered Accountants and that their position at a reputable worldwide software firm does not suit the description. Another person had mentioned that owners would prefer that women tenants "do not party" or had a policy that "male friends are not allowed" if they were to be given a home. While another user was asked by a property owner if he had a girlfriend.

Finding a rental home these days is apparently more difficult than finding a job, according to local residents who have lived there for years. "I have also seen that a lot of landlords have strict guidelines regarding the tenants' caste and/or religion. Some business owners even refuse to speak to callers directly and conduct their whole interaction over messaging apps," said a resident of Uttarahalli.