As more people start to consider renting as a viable solution, there are more ways of getting a better deal than there has been for many years. Competition is fierce, and although rents are still high, there are some ways of getting better value. In this guide, I’m going to talk you through some of the ways you can grab yourself a great deal.
Get better credit
First of, get your credit situation in order. While it won’t work every time, there are plenty of landlords that will negotiate on price if you are less of a risk. You could end up saving anything from 5-10% on your rent this way, which might not sound a lot over the space of a month. But, across a whole year’s contract, it can give you significant savings – certainly enough for spending money on a vacation.
Use as many sources as possible
When you are looking for a rental property, check as many sources as possible, don’t just stick to the typical sources like Rent.com. Use local estate agents who offer rentals, and see what they have on offer, too. Take GreyLoft.com as an example. They have a handy tool on their site that can help you search by price and location. You should also check local newspapers and check signage in local stores. You can often find a private landlord who will save you the costs of agent’s fees.
Ask around
Don’t forget to use word of mouth to spread your intent on renting somewhere. It only takes a conversation with the right person for them to ask their friends or post on their social media account. You might get a lot more for your money before the apartment even hits the mainstream market.
Know your rents
It’s also important to understand the going rates for properties in the area. This way, you will have an excellent negotiating tool when it comes to sorting out a price. For example, a landlord could be trying to maximize their profit by matching other rents for similar properties. But, if you can point out the areas that are different, or in worse condition, you can often get a knockdown.
Go for unfurnished
Unfurnished properties tend to be cheaper than places with furniture ready for your use. The simple reason is that you won’t have the opportunity to cause any significant damage, and you are less of a risk to the landlord. It’s also an excellent opportunity to bring in your own things and make the place your own. Also, owners of unfurnished properties tend to be much easier about hearing about your decorating ideas.
House share
Finally, if you want to get the best value for your money, always share with someone else. There isn’t much difference between the cost of one bedroom and two bedroom apartments. So, it makes sense to find someone you can share with to cut back the cost, and live in a much nicer place than you could afford on your own.
Hope these tips have helped – let me know how you get on!
