Techie served 15-day notice to vacate rented flat, sparks owning vs renting debate

A finance professional has triggered a debate on renting versus buying a home after sharing the experience of a friend who, despite being financially capable of purchasing a flat, chose to live in a rented apartment but was later asked to vacate the property within 15 days after the landlord decided to sell it.

Aditya Kondawar, Partner and Vice President at Complete Circle Capital, shared the incident in a post on X, using it to argue in favour of home ownership over renting. The post prompted mixed reactions from social media users, with some supporting home ownership and others highlighting the flexibility offered by renting.

Friend chose to rent despite being able to buy

According to Kondawar, his friend, who works at an IT company, deliberately chose to rent even though he "can easily buy a 2 BHK in a good area." He said the decision was made despite repeated advice from the friend's parents and others to purchase a home.

Kondawar said his friend had lived in the rented flat for two years and had developed a cordial relationship with the landlord.

However, four months into the third year of the rental agreement, the landlord informed the tenant that he would have to vacate the flat within 15 days because the property was being put up for sale.

The timing, Kondawar said, created additional difficulties as his friend now had to balance office work with shifting to a new home while searching for another flat during the rainy season.

Post backs home ownership

Using his friend's experience as an example, Kondawar advised people not to rely solely on financial influencers who advocate renting over buying.

"Don't listen to any finfluencer, if you can please buy your own property, instead of paying rent Pay EMI - My personal take," he wrote.

Social media users divided

The post generated a wide range of responses from users on X.

One user, Mitesh Patel, wrote that if a 15-day notice period was specified in the rental agreement, the landlord could not be faulted, adding that, to his knowledge, the notice period is generally and legally 30 days.

Another user supported Kondawar's view, saying, "Absolutely sir, owning a home brings a different kind of peace, don't blindly follow finfluencers."

A user identified as Pankaj Agrawal also favoured home ownership, writing, "Rent buys you a landlord's peace of mind. EMI buys you yours."

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