6 Ways to Save Money as A Tenant
Living in a rental apartment can be a stressful experience. It is not always fun to go to landlord meetings or to haggle with your landlord over the cost of repairs. However, it does not have to be that way. Many renters have discovered ways to save money as a tenant. Read about 6 of them.
- Make a Negotiate When You Renew a Lease
It’s a business expense that most of us are familiar with: moving. If you are planning to move soon, why not leave some room for negotiation when it comes to your lease renewal? The chances are good that your landlord will be offering you a new lease at a lower rate than you are currently paying; why not try to negotiate the best terms possible?
Lease renewal is one of those things that most people don’t think about. It’s not like a first car or house payment, where you can’t make too many mistakes; lease renewal is a contract that you’ll be entering into with a landlord who has a right to demand money upfront. And as with any contract, there are rules that will help make the negotiation process a little smoother.
- Get a Roommate
If you are an apartment dweller, you may have thought about getting a roommate to save some money. However, finding a roommate may not be as easy as you thought. You may be worried about living with a stranger or how a roommate would affect your privacy. It may also be too expensive for you to get a roommate. So, how can you find a roommate? First, you need to make sure this person is a good match for you.
You may find that you like your potential roommate’s personality, but is he or she the right fit for your apartment? It can be hard to find a roommate, especially if you live in a big city like Atlanta, where there are thousands of people looking for a place to live. Even if you know a few people who might be interested, it can be tough to find someone that fits your personality and your roommates ‘ needs. Renters insurance is a good way to help protect yourself from paying for damage or theft due to someone else’s mistake.
- Sign for an Extended Lease
As a tenant, you are entitled to certain rights. At least 8 of them would include, at a minimum, protection against your landlord being able to raise your rent or take away any security deposits you’ve already paid.
As a tenant, you are also entitled to certain responsibilities. For instance, as a tenant, you are obliged to provide certain basic amenities to your landlord, at least such as heat, hot water, electricity, and cooking facilities. You may have to pay your landlord’s “common charges,” such as for utilities, repairs, cleaning, and the like.
- Give Up Your Parking Space
It seems like everyone is in a rush these days, and while that may be convenient for them, it is not always good for you. We are talking about the parking lot, of course. It seems like every time you leave your car at the parking lot. You end up leaving your money behind. The average cost of a parking ticket is $45.
That is $45 you would have used to do something else you would have enjoyed more. When you take into consideration how much money is wasted due to parking tickets, you will realize that it is a reasonable investment to park somewhere else. Depending on where you live, parking costs can range from $50 to $60 a month.
- Pay Upfront
Paying upfront is the financial equivalent of getting a free upgrade or a free upgrade to a better room. The difference is that paying upfront doesn’t guarantee anything, but if you don’t pay in advance, you’re at risk of not getting the room you want or getting a room that’s not up to your standards. Paying upfront also gives you the opportunity to negotiate a better rate or to secure a lower-rate room if you’re willing to take less money upfront.
- Consider a New Location
When and where you rent a property is important, and there are some important considerations to make before signing your lease agreement. If you want to save money on rent, you need to compare offers from different landlords.
As a tenant, you are on the hook for a lot. You need to pay for food, toiletries, entertainment, and even to have a home. However, you will also get a place to live, free utilities, tax exemptions, and security. You will pay for house ownership with your rent each month, which is obviously more than you would pay to live elsewhere.