Renting a home can turn out to be quite an expensive affair if not done wisely. From paying monthly rent to utilities and other miscellaneous charges, the costs add up quickly. While you may not own the property, there are several ways to trim the fat from your rental budget. With some planning and discipline, renters can save significant money every month. This article provides some effective tips adopted by savvy tenants to conserve cash while living in a rented house or apartment.
Research Rental Markets Thoroughly
Take time to study rental market trends in your desired area. Check online resources like real estate portals and local newspaper ads to gauge typical rents in neighborhoods you are considering. Factors like school districts, access to amenities, and safety also impact rents. Negotiate hard for the best deal by highlighting the value you bring like prompt rent payments. Opt for listings that have been vacant for a while as owners may offer discounts. This strategy helped Amy find a cozy 2BHK within her budget in the Denton, TX homes for rent section.
Bundle Home Services Wisely
Combine subscriptions for cable TV, internet, and phone services and save big with bundled packages and promotions. Most providers offer discounted plans when services are bought together or upgraded. John saved 30% per month by bundling internet and streaming services from one provider instead of subscribing separately. Senior or student discounts could yield additional benefits. Switch providers periodically to avail of welcome offers too. Ensure contracts don’t lock you into long-term plans charging inflated rates later.
Set Realistic Thermostat Settings
Heating and cooling account for nearly half of energy costs in rental homes. Programmable or smart thermostats let you easily adjust temps remotely or on set schedules. Keep heating no more than 68-70°F during winter days and setting cooling to 78°F in summers can cut utility bills by 30%. Draw curtains and use fans strategically for less dependence on thermal systems. You may even qualify for free thermostat and insulation upgrades under utility rebate programs.
Control Electricity Usage Wisely
Appliances, lighting, and electronics running continuously can drive electricity bills through the roof. Switch off unnecessary items when not in use or enable power-saving modes. LED bulbs use 80% less energy than traditional units providing the same lighting. Unplug phone chargers, and power strips when fully charged which eliminates phantom loads. Consider tiered utility rates and run heavy appliances like washing machines at off-peak hours. Periodically cleaning furnace/AC filters also sustains efficiency.
Kitchen Hacks For Savings
Smart shopping and meal planning is key to saving money in the kitchen. Use inventory lists and pantry staples creatively to reduce takeout dependency. Frozen meal options keep costs low. Buy in bulk for cheaper non-perishables and freeze portions to save on spoilage. Grow herbs and a few vegetables on patios to supplement diets. Swap meat-heavy recipes occasionally for cheaper plant-based dishes. Choosing store brands for similar quality brings further savings.
Make Room For Roomies
Renting a bigger house and splitting costs with housemates is a fantastic strategy to cut rental prices further. With responsible screening, expenses like utilities, groceries, and streaming subscriptions become more affordable per head. Just ensuring rent, Wi-Fi, and utilities are split fairly trims average monthly outflows by 30%. Roomies may also contribute to periodic deep cleaning/repairs for a well-maintained living space.
Be Insurance Savvy
Evaluate rental insurance needs based on liability coverage from landlords. Quality tenants may need a few additional liability policies beyond the renter’s insurance covering personal possessions. Discount programs are offered for bundling policies, good driving/claims records, and safety systems like alarms, and sprinklers. Prudent insuring avoids the financial pitfalls of unpredictable events. Seniors qualify for special rates too under certain plans. Compare multiple quotes each year to stay within affordable premiums.
Communicate Promptly
Handle landlord communications effectively by promptly paying rent via prescribed cost-effective methods to leverage good standing. Promptly report issues needing repair for a conducive living experience whilst avoiding escalations. Stay invested in property and neighborhood care even as a renter to develop goodwill. Tenants with logical feedback and excellent track records have leverage while negotiating renewals too.
