Cutting Down On Rent

Searching for an apartment, much like buying a home, can be a stressful prospect if you don't plan carefully. Waiting to find a place until a week before your lease is up is the last thing you want to do in this situation. Starting your search early can ensure you have plenty of places to choose from and save you some money in the process. But with so many people trying to find new places during the summer, you will have to be creative to find a cheaper place, as some of the more affordable ones may already be off the market. Here are a few ways you can cut back on the cost of your apartment:

Roommates

Living by yourself can be a great luxury, but it may turn out to be an expensive venture. Sure, you have the place to yourself, but you will be solely responsible for all of your apartment costs and bills. Rent, utilities and renters insurance are just a few of the bills you will have to deal with on your own. To help cut down on these costs, consider getting a roommate, but make sure you find one who you can get along with because no one wants to get into a shouting match because one person can't pay the electric bill for the month.

Location

Living close to work or your favorite coffee shop is great, and if you are going to live close to your work and the area is highly populated, chances are the rent will be a little higher than you wanted. Instead of being in the hub of the city, look for a place a little farther away. You don't necessarily have to move to another city, but living in an area a few miles away can help cut down your rent.

Length of lease

If you fall in love with your apartment, try to see if you can sign up for a longer lease. Generally, a standard lease is one year. However, if you agree to a longer term - like 18 months or two years - you don't have to worry about your rent increasing after just 12 months.

Referral

Ask if your landlord has any other properties or open spaces that need to be filled. See if friends or family members would like to move in, as your landlord could give you a referral bonus.

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