Ways to Save on Rent

Author
YNM Real Estate
Date
19 December 2021
Category
News

We all want to spend less money, and for many people rent is one of the biggest expenditures of the month. Here are a few tips to save on rent.

Commit

If you get a 12-month lease, you are likely going to be charged a standard fee, but if you want to see if you can save some money, consider offering a 24-month lease (or longer if you are willing) in exchange for a small discount. Though it may only be $40 or so a month, this adds up to a hefty $960 across the two-year period, which is a significant saving in my book!

Studio Apartments

If you are living on your own or a couple, a studio apartment might be the way to go. While they don't offer the same multi-room experience, they do have the benefit of being quite a bit cheaper, so it really is a good choice for those who would prefer to have a little extra money in their pocket over having more than one room in your apartment.

Don't disregard suburbia

If you enjoy living in the city, this one won't be for you, but living further afield can have a variety of benefits. Lower crime rates, less noise pollution and more in the scope of this article, cheaper rent.

Compromise on the simple things

Things like the garden, the age of the building and a vast array of factors impact the price of rent. Decide on what you are willing to live with and you would be surprised at how much you can save when compared to living in a place with all the modern amenities.

On the plus side of this, many landlords are more than happy for you to make improvements, so that overgrown garden might save you quite a bit of money and you can fix it up if you wish, which requires nothing more than an afternoon of hard work!

Do not be afraid to negotiate

You would be shocked at how much of a difference this can make. When it comes to everything from your bills to the rent itself, if you are simply willing to try and make a better deal for yourself, you might just be able to save a few dollars a month on each expense. This added up across all your expenses over a long period of time can make a significant impact on your cost of living, giving you more money to save or enjoy yourself with.

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