Bengaluru landlord loses ₹5 lakh for citing 3BHK at ₹75,000: ‘Landlords are still living in 2022’
Rent prices in Bengaluru have been rising for years, but in some areas the market is now showing signs of change.The landlord had set the rent at ₹25,000 per room, above the area’s average of ₹20,000. (Unsplash/Representational Image)A Bengaluru landlord who owns a 3BHK flat in Whitefield has reportedly taken a loss of over ₹5 lakh because two of the rooms have remained empty for almost a year.Recently, one of the tenants shared this experience on Reddit, stating living alone in a 3BHK flat in Whitefield.“Bangalore owner took a loss of 5 lakh+ on rental,” the caption of the post reads.Landlord struggles with empty rooms:According to the post, the landlord had set the rent at ₹25,000 per room, above the average of ₹20,000 in the area, making it hard to find tenants.As a result, one tenant has been living in the entire 3BHK for just ₹25,000 per month in total.“So I’ve been staying in a spacious 3BHK in a very good society for just ₹25k total,” the tenant added.In response, the landlord has now reduced the rent to ₹18,000 per room. While prospective tenants are visiting, no one is finalising the agreement.The tenant said the empty rooms alone could have generated an extra ₹20,000 a month each. “If even one month goes empty, that’s almost a 10% loss for the year,” the post adds.“Feels like landlords are still living in 2022 peak mindset, while the market has already changed,” the tenant adds.Also Read:
