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Can security deposit be 10 times more then rent amount
11-Mar-2023 (In Landlord/Tenant Law)
I want to move into a house in Bangalore and the landlord is asking for a security deposit that is 10 times my monthly rent. Is this legal? If this is illegal, why is this practice so rampant in Bangalore?
This practise is on the rise in Bangalore and to curb this practise many campaigns have started and supported The New Model Tenancy Act 2011 (a proposed act), which suggests not more than three months' rent as deposit and a host of other tenant-friendly rules that would benefit both, owners and tenants, alike. However this is still a proposal and has not been passed by the government yet
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Adv. Chikirsha Mohanty
Delhi | 200+ Answers
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