Are Heavy Deposit Flats The New Trend of Rentals in Mumbai?

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Are Heavy Deposit Flats The New Trend of Rentals in Mumbai? kuchbhi.com/life-style/zero-rental-heavy-deposit-flats.html Ajay Lulia

February 3, 2021

Heavy deposit flat schemes are fast becoming popular in Mumbai. The trend that had initially kicked off in the extended Mumbai suburbs of Mira Road and Vasai- Virar are finding takers even in the other suburbs of Mumbai.

What are Zero Rentals, Heavy Deposit Flats? Under the normal live and license agreement, a tenant pays monthly rent along with a deposit for the flat. However, in the case of zero rental flats, the owner asks for a huge deposit from the tenant. The tenant does not pay any monthly rent‌that is the tenant gets to stay in the flat on a zero rental basis. The deposit amount is returned by the owner once the live and license agreement is over, provided the flat is maintained in good condition. The owner may deduct some money in case of damage to the flat.

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