3 Simple Ways to Pay Less for Rent

Rent expenses aren’t quite as negotiable as, say, insurance or cell phone expenses, but there are still quite a few things that you can do to ensure that you end up with a more manageable rent bill. Here are 3 simple ways to save on your rent in your next home.

Get roommates.

This one may sound like common sense, but it’s worth mentioning. If you have a spare bedroom in your home, renting it out to someone—even for just a few months—will cut down on your rent expenses considerably.

If you don’t like the idea of renting out a room in your rental to someone else, you can always consider renting out spare storage space or a parking spot for your home (assuming that’s kosher with your landlord).

Decide on what you won’t spend more for.

There are a great many factors that come together to influence the cost of a home or rental property. Location is a major factor, for example, and under location you have to consider proximity to good schools, work, shopping centers, public transportation, etc. Updates and upgrades are another major factor, with upgraded kitchens typically garnering higher rent prices. So, before you look for the right home for you, take an inventory of what’s important to you in a home—and what isn’t important to you. That way, you’ll start your rental search with a firm grasp on what you’re willing to pay for—and what you can do without. If you are looking at a relatively expensive rental that is conveniently located near public transportation, for example, but you know that you never use public transportation, then it wouldn’t make sense for you to spend the extra money on that rental.

Rent a storage unit.

Many renters go about a home search with the mindset that their next home must be able to fit all of their possessions. How many of us, however, own possessions that could just as well stay in storage for months at a time? When you rent a storage unit, you can pare down the possessions you keep in your rental to only those things that you will use on a regular basis. Then, you can safely store the rest of your things, all while still maintaining easy access to those things. Keeping fewer possessions in your rental means that you can live in a rental with less square footage, helping you save on your rent.

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