As rents rise, here is what you can ask from your landlord for protection

Sign a long-term agreement that should have a reasonable escalation built in and a minimum guaranteed tenure

The upsurge in residential rents, which began after the Covid-19 lockdowns ended, continues unabated. Rents increased 4.9 per cent quarter-on-quarter (Q-o-Q) and 5.8 per cent year-on-year (Y-o-Y) across the country in the April-June 2023 quarter, according to Magicbricks’ rental index. Bengaluru (8.1 per cent), Navi Mumbai (7.3 per cent), and Gurugram (5.1 per cent) witnessed the highest increase in average rents Q-o-Q.

With most offices calling their employees back-to-work (at least in the hybrid model), there has been a spurt in rental demand over the past one-and-a-half years.

Supply lags demand

“Demand in a city like Bengaluru, for instance, has