Bengaluru is a developing city. IT is growing like crazy in the city. so is the business. I came from a far city to Bengaluru like many just to work in IT. This is the land of opportunities.
So, in this land of opportunities, a foreign company finds a local land and buys it for any random price and there stands a beautiful IT park. IT park so beautiful, that people often stop to amuse themselves. Now, people like me who are here to work will join this IT business. The house rates rise here, just because there is a demand of houses. This demand of houses creates a thought within many. A thought of investment. Now, the thought is to buy the house, rent it and try to get back the EMI amount. This thought creates another thought to increase the house rates at that area.
Understand, this is a cycle.. Houses are expensive, because rents are expensive and rents are expensive because houses are expensive. Owners think EMI is too much, tenants think rent is too much. whom to blame? I dont think we can play a blame game here.
I received lot of comments for this previous blog (http://blog.kannadagottilla.com/10-months-advance-welcome-to-the-new-bengaluru/). I would like to mention the best answers I received.
1) We feel insecure, as the tenant comes from anywhere and they are really bothered about the Damages that happen.
2) If the tenant doesn’t pay the rent or elopes, it is very difficult to run behind the court and case.
1) You can have 10 months of advance money, but pay 6% of interest to the money (you would get 9% in the bank).. this would clear insecurity and solve your worries..
2) Create a bank bond instead of the advance money (As IT company does).
1) Tenants, please try not to damage stuffs, dont break tiles, walls. If you seriously want to damage stuff, build your own house and break whatever you want.
2) owners, if you are renting your house, be ready to paint the house yourselves. Tenant is paying for all the services in the form of rent, why should he paint your house?
As always.. I write blogs to explore the world.. If you have betters answers (Owners and Tenants).. you can leave a note.. I will acknowledge that and publish in the next blog if that is convincing.