Renting can often be a good way to spend a lot of money. Especially with the prices for rental properties jumping up all over the country. Most renters spend a large majority of their monthly income on paying rent, not including other bills. So how does one go about saving money in these times? Here are a few tips to lower your monthly expenses and put a little extra in your bank account.
Not everything in the lease agreement is exactly set in stone. There are a few things you may be able to go over and negotiate on. Suggesting to do the yard work or maintaining certain aspects of the property for a set amount taken off the monthly rent. Or see if there are extra perks that would make the higher payments worthwhile, such as individual parking.
Look for a Roommate.
Having a roommate can be one of the easiest ways to help you save money on a rental property. Not only will you be able to split your bills in half, you can always have the option for a bigger place as well.
If you know where to look you can often find places that offer discounts to renters for filling up vacancies. Or if your property manager has a few vacancies they need filled, helping them to find adequate tenants can bring you some discounts towards your rent as well.
Not only do you have rent to pay, but there is also the utilities, cable, or heat and air. Finding a place that has a few of these things included can help keep your monthly bills on the lower end of the spectrum. Even the simple things like trash and water can help save you a little bit of money every month.
In this day and age pretty much everyone uses the internet, especially Wi-Fi. If you have a good relationship with your neighbor then see about sharing an internet connection and splitting the bill. This way both of you have all of the joys of the internet and are only paying for half of it.
Switching over simple things like your light bulbs or smaller appliances to be energy-efficient can help save you some money in the long run. If you’re looking at a few rental properties check to see if the larger appliances are energy-efficient as well. This can help save you a decent amount off of your bills every month that will add up to a surprising amount at the end of the year.