Nestaway- Security Deposit not Refunded
I have moved out of my Bangalore rental house taken from Nestaway on May30th. They have not refunded the security deposit of Rs.80,000 after 2 months. They informed after lot of follow-up that they will refund on July15th. But I have not got it yet. In their latest email their claim is that the owner has not refunded; since I have no monetary transaction with owner directly, its Nestaway's responsibility to get the refund. more
It is implied duty of Nestaway, probably brokerage firm to manage the refund. Best remedy is to go for consumer forum to book such nasty Dalal more
Is there any lease deed agreement and any mention regarding advance has been made ? more
AJ, Isn't it a normal practice to hand over the rented property simultaneously with the return of security deposit more
This is very common in Bangalore only. Rent for 11 month and pay rent for 12 month and chance of deducting Hugh amount from security deposit. It is only practice of BANGALORE city. more
It is a pity - every landlord from whom I have rented (office) premises, has tried to retain as much of the deposit as possible, if possible everything, on various pretexts.
We need regulations on this - limits on deposits (no rental agreement to be registered if the limit is exceeded), and deposit to stay with a third party - Nestaway in your case. After all a deposit is just a security against the tenant leaving with rent arrears, and to compensate for damages- it is not meant for him to earn money by investing it somewhere.
The third party should assess and make necessary deductions, and refund the deposit within 15 days. They can charge a realistic fee for this assessment service . more