Living comfortably does not always have to mean making too many sacrifices in terms of how much you spend on rent. There are many things that you can do to live comfortably and still save money. You will not need to starve or stay in your apartment for the rest of the year. We are going to show you how to save on rent. That way, you can use your money for the things that matter the most to you. You might not believe it, but you will find that the small stuff you do can go a long way. The small stuff can lead to saving a large chunk of change.

How Can You Get The Most Out of Your Rental Property?

Housing is the greatest expense for every American and that is true whether you own a home or you rent a home. If you are a tenant, then you will need to lower your costs and save money. You should think about doing a few things to save on rent. That way, you can save money or use your money for other things. You should think about moving to the suburbs and consider the location of your next rental property. Additionally, you can think about sacrificing a few amenities or even finding a roommate to share the housing expenses. Maybe, you can think about negotiating your rent with your landlord.

If The City Doesn’t Work, Move To The Suburbs

Rent is at its lowest as you go further and further away from the urban centers of any city. Find a place that has easy access to all transportation routes into the city. That way, you can save money on your daily commute. If you are not dedicated to the city, then you should think about going to the suburbs. The suburbs might not be as glamorous as the city. But, you will notice that rent is much lower in the suburbs, as opposed to the city. You will be able to save more money on rent in the suburbs and you will probably find a scenic view from your window.

Consider Unfurnished or Partly Furnished Properties When Looking for a New Place

Apartments that do not come with furniture are typically cheaper than furnished apartments. You can also find partly-furnished apartments, which offer basic furniture for its tenants. There is a possibility that renting an unfurnished apartment and buying your own furniture is a good way to save money. Additionally, you can furnish most of your rental for minimal expenses. You do not have to buy premium furniture. Instead, you can buy second-hand furniture. There are online resources that can help you find free furniture. Online resources such as Freecycle, Freegle and Gumtree will do the trick for you. Just make sure that you look through all of the options and find out what works for your new apartment.

Sacrifice a Few Amenities

It is a nice thought to rent an apartment with a doorman, a gym, and other amenities. But, you should think about it. Moving into a building with little amenities will keep your rental expenses down. Additionally, if you are looking for standalone homes, then you can consider dated kitchens and bathrooms. That way, you will pay less on rental expenses. Remember, amenities improve your overall lifestyle. But, it can be really expensive to keep up with all of the housing expenses. If you prefer to save money, then you should not have a problem with sacrificing a few amenities.

Look at Different Properties Before You Decide To Choose a Place

As tempting as it is, you should not consider the first apartment you see. You should make sure that you take a look at all of your options. Even if there are options that you do not think will suit you, you can always look around. When you look at different properties and give yourself options, you will be able to decide what works for you and what doesn’t. Additionally, you will be able to compare and contrast between housing units and rental prices. You will not be stuck in one place. This way, you can choose which rental property suits your financial needs and you can get what you want.

Do Not Forget About The Importance of Location

You should always consider a property that is close to your office and with a low-crime rate. It is also important that you take into consideration your rental property’s distance from the nearest police station, hospital, and fire department. This will allow you to make sure that emergency services are near you and they will be able to reach your rental property as fast as possible. Remember that location is an important factor when you choose a rental property.

Save Big On Renters Insurance

Getting renter’s insurance could save you money in the long run. Most landlords do require it and it is not a very big monthly investment. Some of them charge between 12 to 15 dollars a month. Renter’s insurance is a form of property insurance that offers coverage for the policyholder’s belongings, liabilities, and living expenses, in the case of a loss event. Typically, renter’s insurance is available for tenants living in a rented property. This policy protects tenants, in case they lose personal belongings in a rented property. Additionally, renter’s insurance provides protection against losses from liability claims.

Find Yourself A Roommate

One of the easiest and simplest ways that you can save money is through sharing the rental costs. You can do that by getting a roommate or two. Getting a roommate will help you significantly reduce your rent since everyone can contribute a little bit of their cash towards the monthly expenses. You can use online rental platforms to find the perfect roommate that will make your living experience easy as pie. Additionally, you can save money on utilities, too! This means that you will not need to sacrifice too many things in your lifestyle that way.

Think About Functionality

Always have a practical approach when deciding how big you want the space to be. Getting a bigger apartment when you are not going to make use of every single space is absolutely meaningless. You should think about the space you need, as opposed to the space you want. Make sure that you move into a rented property that fits your needs, as well as your wants. If you are currently single, then you should think about investing in a smaller apartment. You are supposed to use the space in your home; it should not be uninhabited.

Negotiate Your Way to Save Money

Are you ready to talk turkey? Well, it’s not Thanksgiving, but you could negotiate a lower rent with your landlord. Some are flexible and are willing to accommodate your needs if the rent is too high. Good tenants are not an easy thing to come by. If you are a respectable and dependable tenant with a great history of paying on time, then your landlord will want to keep you around. You should not hesitate to negotiate your rent with your landlord, when your lease expires.

Subsidies Are A Possibility, a Great Possibility

The US Housing and Urban Development Department provides many different packages and subsidies for those who are struggling to pay rent. It is best to check their website to see if you are eligible for assistance. There are eligibility requirements that you need to meet to qualify for subsidies. But, you will be able to save a lot of money that way. HUD will help you with housing expenses, even basic needs. One of the main welfare programs that you can apply for is the Supplemental Nutrition Assistance Program (SNAP), or food stamps.

Consider A Lease Agreement, Instead

Signing a lease agreement that is legally binding can help protect you. It prevents the landlord from increasing your rent for at least a year. Without one, landlords have the right to decide what rent they want to be paid from month to month. Additionally, you should settle for a long-term lease agreement. A long-term lease agreement is a great bargaining chip to reduce your rent costs. You can discuss with your landlord about a multi-year lease agreement and see if your landlord is willing to negotiate. Remember, a vacancy is not a good idea for your landlord.

Commute to Save a Chunk of Change

Make sure to pay attention to transportation. If you do not have a car or any mode of transportation, then you need to make sure that your home is not too far from public transportation. It is important that you make sure that you easily access public transportation. That way you will not have to worry about going late to your office every day. You might be able to find an apartment that is right across from your office, but you can try your best to find an apartment close to public transportation.

Make Sure Your Landlord Takes Care of Your Maintenance

Performing your own home maintenance will cost more than it should and it is not your responsibility. Your landlord should fix up your home and you should be able to save money on rent. Make sure that you look through your smoke detectors and your carbon monoxide detectors every once in a while. That way, you will let your landlord know when anything breaks down. Additionally, you should make sure that your landlord cleans your roof and gutters to prevent clogging. It might not be great and you will need to pay attention to every little detail of your home. But, you will be able to work your way to saving a chunk of money, since you will not have to fix it.

Save Money on Energy Consumption

Another way you can save money on rent is by reducing your energy consumption. Energy costs and utilities can take a lot of money out of your wallet. This is why you should consider reducing your energy consumption as best as you can. There are simple things you can do to decrease your energy consumption. Try not to consume your energy in a passive way. This means that you should always turn the lights off when you leave the room, or any appliances. Make sure your water heater is shut off whenever you do not need hot water. Additionally, do not forget to switch your light bulbs to LED bulbs.

Cook Your Meals At Home

Everyone knows that going out to dinner takes up a lot of money. This is why you should think about cooking meals in the comfort of your home. You will be able to save so much money when you cook your meals at home. Additionally, you will be able to eat food that you want and buy food that fits your budget. Fresh food and enhancing your cooking skills are a few of the perks that you can get from cooking at home. That way, you can save money on rent and utilities.

Make Sure That You Get Your Full Deposit Back

This will not help you save money on rent. But, you will be able to save money, nonetheless. Getting your full deposit back will help, especially if you decide to leave the property in good condition. If there are no disagreements with the landlord throughout your time as a tenant, then your landlord will be able to give you your full deposit back. Make sure that you take care of your rental the whole time that you stay there. In the end, you are staying in someone else’s home, so you should treat it that way.

Conclusion

In conclusion, there is so much that you can do to save money on rent. You can make sure that your landlord performs home maintenance, consider applying for subsidies, and get renters insurance. Also, you can try to avoid using your utilities passively and try your best to reduce your energy consumption. If you are trying to save money before you move into a new place, then you can consider looking at several housing units. You can look for a place near public transportation and negotiate your rent. All of these things will serve as a blessing to your wallet.