Why I agreed to pay Rs 15,000 extra rent in a year: Samsung techie in Bengaluru explains

After his landlord increased his rent by Rs 15,000 abruptly, a software developer in Bengaluru has shared why he chose to agree to the new arrangement while most prefer to look for alternative and more affordable housing options.

"Six months after we moved in, our landlord told us that he wants to increase the rent by Rs 15,000," 23-year-old Aman Sharma (name changed), a software developer with Samsung, told Moneycontrol. He shares a 3-BHK flat in a gated society in Doddanekundi, near Marathahalli, with two of his colleagues. Its current rent is Rs 57,000.

"The rental agreement was for 11 months but the landlord was being very pushy. He told us to either pay the new rent or move out because he already had tenants interested in paying the increased amount for the flat," Sharma said. The three of them, however, decided to stay because they wanted to avoid the hassle of finding another accommodation close to their workplace.

"We had no other option but to agree to the landlord as finding a new place again is a big big problem," Sharma tweeted.

My Landlord in Bangalore increased rent by 15,000 INR within one year whereas as per agreement the increase per year should have been 5%.

The only option he gave was either to leave or pay the increased rent.

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— Arsh Goyal (@arsh_goyal) July 8, 2023

Speaking to Moneycontrol, Sharma said that it had taken them a month to find this flat through a broker. "This was an unfurnished flat. We paid brokerage and furnished it. Also, it was difficult to find a place close to our office as we wanted to avoid traffic. We have invested a lot into this place and can't think of going through all the hassle again," he said.

Responding to Sharma's story, a number of Twitter users shared similar experiences in Bengaluru.

"My rent increased by 16 percent instead of 5 percent. Also, the first conversation we had on a higher rent increase was on May 23, but when the agreement was sent, the owner told me the rent increase will be from April 1st - he said take it or leave it. I had to take it of course," wrote user @_M0neyMatters.

"Even we had a ~17 percent increment (Rs 7,500) by owner two months back citing the decade was stagnated and it is reflecting now. He proposed a ~23 percent increment (Rs 10,000), negotiated to 17 percent. He simply said, 'may be renewed'. He was not obligated to anything," added Anuj Khandalikar (@realkhandalikar).

Rents in Bengaluru have nearly doubled since the start of last year, making it the country’s hottest residential market. Landlords in the city now charge the highest proportion of their property’s value as rent, edging out financial centre Mumbai, according to data from market researchers.

Read more: Bengaluru family forced to move out of flat after landlord increased rent by Rs 18,000