Phil's
Personal Finance Tip of the Day:
8 Ways to Save Big on Rent
By Angela Colley | Money Talks News – Mon, Aug 6, 2012 3:30 PM EDT
My landlord rents her properties at $850 a month. But I pay $750.
Why? Shrewd negotiation, patience, and a lot of research got me a $100-a-month discount. But that isn’t the only way to save money on rent.
1. Shop around
The Internet has turned me into a hardcore comparison shopper, and apartments are no different. There are dozens of apartment rental sites listing dozens of properties in my hometown. It pays to check out several of these sites when you’re looking for a new pad. I mentioned a few sites you should use (and a few you shouldn’t) in The Best (and Worst) Apartment Rental Sites.
But don’t stop your search with your computer. I found my last apartment through a “For Rent” sign in the window. The place was $150 cheaper than anything else I found, and I never saw an online ad for it.
2. Move a few miles away
Location is everything in real estate. If you live in the most popular area, you’re going to pay the highest rent. But if you move a couple of miles (or sometimes even a few blocks) away, you can get a serious discount. For example, renters in my city (New Orleans) pay about $1,250 a month to live in studio apartments on a trendy street. I live four blocks away and pay $750 a month for a one-bedroom. I don’t get bragging rights, but I’m still within walking distance – and I’m saving $500 a month.
3. Wait
I start looking for a new apartment a month or two before I need one. If I find a place I like, I keep an eye on it. More often than not, private landlords lower their asking price if they don’t find a tenant within a week or two.
To read the entire article from Money Talks:
http://finance.yahoo.com/news/8-ways-save-big-rent-193013056.html
Hebrews 12:1 — Let us run with perseverance the race marked out for us.
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