How to Cut Your Rent at Home
- 1). Renegotiate with your landlord. This is the best option, because it requires the least sacrifice on your part, if done right. Explain to your landlord why you should be paying less than you are. Find comparable homes on the rental market for less than you're paying to help you make your case. Also, tell your landlord about any extenuating circumstances that may be pushing you to cut your rental expenses, such as the loss of employment or unexpected medical bills. Have something to offer during negotiations. For instance, you might offer to pay your next six months of rent up front if your landlord will cut 20 percent or more from the total tab.
- 2). Barter for rent if renegotiation goes nowhere. Talk to your landlord about things you could do for him in exchange for lower rent. If you live in a building with many apartments and no maintenance person and you know your way around a toolbox, your landlord may be willing to make you the superintendent. You'd then be responsible for the building's maintenance, but in exchange may be able to live there for a discounted rate. Alternately, your landlord may be willing to barter for other services, such as babysitting if he has young kids. Think about what you're good at and can offer in a trade.
- 3). Get a roommate if your landlord won't cut you a break. A roommate can pay part of your rent and also part of your utilities and other such expenses, drastically cutting how much you pay a month. This requires sacrificing some space in your home and possibly also changing your living habits (e.g., no walking around in the nude). However, the extra cash in your wallet at month's end may be well worth it. Maximize your chances of making a roommate arrangement work by finding someone with similar habits and interests as you.
- 4). Relocate to a cheaper place if you're unwilling to get a roommate. A move may not seem like an attractive option, but it can help cut how much you pay each month for rent. Look for a home with a cheaper rental price tag. This may require looking in a neighborhood a bit farther away from work or in a part of town you're not crazy about. Think about your needs versus your wants. Stainless steel appliances, granite counter tops and a breathtaking view may be desirable but are not necessary. Alternately, you could find a place with all the touches your current one has, but fewer square footage.
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