Whilst I appreciate the accommodation provided by estate agents Hansman and Wilkins, I find one particular practice of theirs very unfair.
I have previously remained silent but those who also rent properties under Hansman and Wilkins understand this very bad practice.
Every time when one’s lease has expired and requires renewal, Hansman and Wilkins increases the rent and then requires a new deposit on renewal.
The new deposit is not even the difference after considering the last one.
It will be as though you are moving into the place. It is the value of the new rent. It is then staggered to be paid over two to three months.
For example if my rent is $100 when I move in, I pay $100 deposit. If my first lease expires and rent is increased to say $150 then I have to pay another deposit of $150 and not a difference of $50, considering that I still have a deposit. What is the deposit then? And the cycle goes on.
What justifies rental increases on renewal of lease? What happens to the old deposit?
What is the justification for increasing that deposit? What is the use of the deposit if there is a separate charge for utility bills or if there are no improvements taking place?
We are using US dollars as currency. Our inflation is very low and property demand is not increasing at a high rate.
In fact these days you find more people moving out and more flats being empty than before. So what justifies all this? Some of us are quiet because we have families that need shelter. We may face victimisation and lose the places then be in worse situations.
But you cannot keep getting away with this unfair practice. We know they are a business, but is this the way we can all start surviving?
If I am wrong, I stand corrected. If I am right, then please stop this practice and practise fair business. I am now fed up!