Renewals, when it’s time to decide whether to leave your apartment or stay. Whatever your choice is, there are some ways you can aim to save money on your rent:
Consider your courtesies
Although it won’t lower your actual rent, you can cut the cost of living if you be mindful of monthly expenses you might be paying for twice. Some complexes offer an on-site gym, so why pay for an outside membership? Maybe the clubhouse or lounge offers free WiFi, so perhaps you can do without an at-home connection. If your development or neighborhood gives you amenities that you are already paying for in your monthly rent, it’s best to take full advantage of them.
Leveraging your leases
Standard housing leases are for a one-year period, therefore if you are certain you will stay in an area for at lease a few years it is advantageous to sign a longer lease and receive a better price – effectively lowering what your rent could be. Even if getting a better price isn’t an option, a longer lease locks you into the cost for a longer time, which can save you money.
Holding down the fort
If you decide to stay, taking on a few roommates can help you save money on your rent and further improve your assets. Perhaps you are married, love the area, have a family, or live alone – but there is always a way to negotiate and still save. If you are a good tenant, pay on time, and don’t wreck the place, a landlord would rather have you than spend money and time finding your replacement. Use this to your advantage, and discuss a lower rent.
Getting the hell out of Dodge
Be aware of your current accommodations – is there anything you could cut back on. Square footage? Trading your private washer/dryer for a public one? Moving from a one-bedroom to a studio? Downsizing can save a lot on rent expenses, lower utilities, and improve your life in other areas. Additionally, location may be a prime factor in why you are spending what you are. Nearby towns may offer the same level of comfort you currently pay for, but for less.