Want To Save Money On Rent? Check Out These 8 Ways!
I know people that own rentals and how much they appreciate great tenants. Rentals can be a huge headache to the landlords! Anything that makes owning rentals easier is something the landlord would entertain. If the renter is willing to help make things easier, why wouldn’t they receive a discount on their rent, right? This post is here to give you ideas and tips to help you negotiate a lower rent. Hopefully you can apply some of the different suggestions to help you save some money on your monthly rent!
Suggestions for lowering your rent!
- Do all negotiations to be done before you sign the lease. Not saying you can’t do them after you sign the lease but anything changed will require you to sign a new lease.
- Compare the cost of comparable properties in the same vicinity. Present these costs of comparable properties to the landlord. If those properties are less, try and negotiate a lower price.
- Offer to do any needed repairs or upgrades to the property. Depending upon your expertise, work like painting, floor replacement, and small repairs are a great place to start. This will save the landlord time and money while giving you a nicer place to live.
- Yard work and snow removal. This is an added cost that landlords must incur to keep the property safe and presentable.
- Locate properties that have been vacant for a period of time. Landlords want to keep their property occupied as much as possible. They may be willing to negotiate on price to get or keep the property occupied.
- Offer to pay your rent automatically from your account. Landlords hate chasing down tenants at the beginning of the month to retrieve rent. Autopay eliminates this task and can help save you money. If the landlord knows your rent will be in their account without any additional work, they may offer a discount. Landlords need to pay bills too!
- Look for a longer term rental. This is like a guarantee to the landlord that the property will be occupied for that longer period of time. This keeps landlords from having to clean up, paint, and find new tenants for the property after you move out. If you stay in longer, they won’t have to do this as often which saves them time and money.
- Pay in advance. The landlord may offer a discount for paying your rent early.
- Ask for a discount. If you are a long term, good tenant, it doesn’t hurt for you to ask for a discount on the rent. Landlords value great tenants and would do whatever they can to keep them as a tenant.
Being a tenant isn’t always great but there are desirable aspects about renting that outweigh owning your own home. Things like repairs, yard work, taxes, and being able to relocate with ease can make renting worthwhile. If having all of these additional expenses from owning a house isn’t your cup of tea, renting could be your ideal form of housing.
If you try renting and decide that it isn’t for you, there is always the option to buy a house. Buying a house can be cheaper. It just requires self control with your finances to save up, find your perfect house, and begin to make memories! Give these tips a try! I hope they help and allow you to negotiate a better price on your next apartment. Good Luck! As always, Stay Frugal My Friends!