$15 billion in security deposits: India's tenants are their landlords' cheapest lenders
About this episode
This episode discusses the financial burden of security deposits on tenants in India's major cities and the implications of prolonged renting.
Tenants across India's six biggest metros have handed landlords Rs 1.26 trillion in security deposits, a new NoBroker study estimates. Around $15 billion of tenant money, refundable in name, sits in landlords' accounts earning interest for people it does not belong to. In this episode, host Snigdha Sharma ask what a deposit actually costs a renter, and arrives at a number: nearly a month's rent, every year. The same tenant who pays 2 months' deposit in Mumbai is asked for 10 in Bengaluru, and in Delhi NCR, about 4 in 10 never got their full deposit back. Renting was meant to be a phase. But with home ownership drifting out of reach, tenants may be extending this loan for decades. Tune in. Recommendations: It sucks to be a tenant in Bengaluru right now *Take The Ken's audit here Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
People in this episode
Host: Snigdha Sharma
Topics covered
- tenant security deposits
- renting challenges
- landlord-tenant dynamics
- financial implications of renting
- home ownership issues
Keywords
- security deposits
- tenants
- landlords
- rent
- India
- NoBroker
- Bengaluru
- Mumbai
- Delhi NCR
Mentioned in this episode
Organizations: NoBroker
Places: India, Mumbai, Bengaluru, Delhi NCR
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