Vijayawada: With building owners increasing the rents in the city, tenants are now feeling the pinch of high rents. The landlords are quoting exorbitant rents for employees, who are in search of a home, while the tenants, who are already residing for a meagre or reasonable amount of rent, are asked to pay more than before including advance.
The owners of domestic properties have increased the rents by 15 to 30 per cent depending on the area. They asked the tenants reportedly to pay the new rent with immediate effect irrespective of completing a year of rental agreements. The trend is prevailing across the city.
To make the most of out of the opportunities, owners of properties in posh localities in the city like Patamata, Gurunanak Colony, Bharati Nagar, Bank Colony, Currency Nagar, LIC Colony, and MG Road are quoting a price.
V Rama Devi, a tenant at an apartment near Patamata said:”I run an education consultancy at my house. We published an advertisement in the newspaper. Hence, many people used to visit our residence-cum-office. Therefore, by the end of January, we are asked to pay an additional amount of Rs 4000 to the existing rent of Rs 8,000 including advance separately. I cannot afford to move out to another location as it may affect our business.”
The existing tenants are put in a fix as they either have to pay the increased rents and maintenance costs or vacate to a new place, which is practically a challenge.
In addition to the woes, the process of finding homes for rent has become difficult in the city like metro cities. There are hardly any to let boards one can witness here. Rental agencies have mushroomed to cash in on the demand and are blocking the options for common man to explore. One has to depend on the rental agency to find a shelter by offering 10 per cent commission of the total rent and an advance beforehand.