6 Simple Tricks to Lower Your Rent

August 2nd, 2018

Paying rent month after month can be quite a heavy burden for tenants. And because paying monthly rent doesn’t build any kind of “equity” or some sort of “return of investment”, it’s very important to keep it as low as possible.

If you are an apartment tenant or renter and you wanted to keep your rent at the bare minimum, here are few tips and advice that can surely help.

Apartment Building

Rent with a roommate

Having a roommate can drastically help in minimizing the monthly rental cost. Having someone whom you can share the monthly rental fee with can surely keep the cost quite bearable.

Ask for credit if something breaks or doesn’t work

If something breaks in your apartment, like for example the fridge, ask your landlord for a credit until it’s working again. Same thing goes with other included appliance or amenities. If something that is included in your rental agreement doesn’t work, ask some sort of credit for it until it’s fixed.

Negotiate your monthly rent

If you are a long time tenant (and a good payer), ask your landlord for some sort of special discount. You can also offer something in return, like repainting the old wall, in exchange of monthly discounts.

Computer your overall expenses

Don’t move out in your current apartment just because you found another that offers a lower rental fee. Instead, compute your monthly expenses first and compare it with your projected expenses at your new found place. Keep in mind the travel expenses and other factors that might change once you move from one place to another.

Know the local law

Check the local law and see if your landlord is allowed to do a rent hike yearly or anytime they want. If there’s a specific law that prohibits them to do a massive rent hike, make sure to point it out to the landlord.

Sign a lease with guaranteed 12-month pricing

Signing a binding legal document that talks about your monthly fee for a year is a good decision. This way, your rental fee won’t increase as long as the lease agreement is in effect.

These tips and advice can surely help you save some money by lowering your monthly rental fee. Feel free to follow them all and see how much money you’ll be able to save from now on.

Image via Pixabay

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