How to Save Money on Rent – 8 Helpful Tips

There is an increasing need to lower the rent expense as it has become a very significant expense.Here are some of the best tips to use to reduce your rent and get you into a more affordable situation.

These 8 tips for reducing the rent expense include:

Research Your Area In Depth

Get A Roommate

Look for Apartments in the Winter Months

Pay up Front

Trade Work for Reduced Rent

Calculate the Total Expenses of Your Place

Become a Resident Manager

Move to a Different Town

Utilizing these tips should allow you to save money and could allow you to find an interesting side hustle too.

Through this post I will provide helpful information about how to save money on rent.

Research Your Area In Depth

There are often many underutilized resources for finding houses in a particular  area that could greatly help people find an affordable option.

Taking the time to research your area and spread the word to all of your friends and family in that area will give you a much better chance at finding a reasonable rent situation.

Do the following to have the best chance at finding a place in your area:

  • Ask friends, family and coworkers about any possibilities
  • Go to any local real estate offices and introduce yourself
  • Visit websites dedicated to providing housing information
  • Check Craigslist for housing options
  • Put the offer up on Social Media to get more interest

If you do all of these tasks, then you will have a huge advantage over your competition. It will probably still take some time to find a truly great deal but at least if you consistently check in with these resources, you will have an advantage.

Going to a local real estate office that rents out to people can sometimes be a good place to find an affordable deal on rent.

Going in person to introduce yourself will show that it means more to you. There are often websites dedicated to providing helpful housing information about a certain area.

This may not always be the case but most of the time there at least one resource that you can get connected with and get the process started.

I have had success using Craigslist to find a great housing spot. I found an ad on Craigslist and met up with the owner and quickly realized it was an affordable deal.

I’m not saying it will be always there but there is a chance that you could find a great and affordable spot on this resource.

If you are interested in learning more about Craigslist, read How to Make Money with Craigslist.

Having a place to live that you really enjoy and is affordable can make a huge difference in your life. Even if it takes longer to find this great spot, it will almost definitely be worth it.

Get A Roommate

Getting a roommate is one of the most common and definitely good ideas to reduce your rent. If you really want to save money, then getting more roommates is going to help you save the most.

Putting an advertisement out on Craigslist or putting the word out to any of your friends and family could help you get in touch with someone to be your roommate.

An important consideration here is that you need to make sure that you and any potential roommate are compatible.

Take some time and come up with a list of questions that you can ask in person. Reducing your rent by getting a roommate is a great idea but make sure that you will be able to get along with this person for an extended amount of time.

Another option to try out is to rent your place out on Airbnb which can give a temporary boost in income.

I have never tried renting through Airbnb but have heard that it can be quite a significant boost in income, especially if you live a popular area.

It is always a good idea to look at the fine print of your lease to see if you are legally allowed to rent out your space for any amount of time.

House Covered in Snow
Look for Apartments in the Winter Months

Look for Apartments in the Winter Months

Looking for apartments in the winter months is going to likely give you the best chance at finding a good deal.

Even though a lot of people tend to move out of places during the summer months, a lot because of school getting out, there is going to be much more competition to finding an affordable option.

I have been a student most of my life and trying to find housing during the winter months was always the way to get the best deal.

There can be so much more competition to find housing during the summer and late spring or early fall.

I found my current place in the winter and it was by far the best deal I have ever had for rent. But it is important to point out that it took many months to find this place and it was something I actively was looking for everyday.

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Pay up Front

Pay up Front

Paying more up front can help you get a reduced price with your landlord because they will potentially see your commitment to stay longer and to pay more money up front.

If you are willing to pay the next 6 months of your rent right now, then you could ask for a slight reduction in how much you get charged per month.

There is no guarantee that your landlord will be willing to do this but it probably won’t hurt to ask if you can get a reduced price for paying 6 months worth of rent at once.

You are giving 6 months of rent way ahead of time for the landlord and this could give you some leverage in this situation.

I would make sure to not make it seem like you are easily able to make this 6 months of rent payment because your landlord could see this as a reason to raise your rent.

This is not particularly likely but just make it clear that 6 months of rent was a significant challenge for you to save up for.

If you are willing to pay ahead by at least 6 months, then you are guaranteeing this amount of rent to living in this place. Willing to pay more upfront could show that living in this particular place is important to you and your landlord could recognize this.

Washing Car
Trade Work for Reduced Rent

Trade Work for Reduced Rent

Finding a way to trade some work that you can do for a reduction in your rent could help you save a bunch.

There can sometimes be certain chores or skilled tasks that need to get completed by the landlord. The landlord could give you a reduced rent if you are able to help them out with some of these chores.

This is not a guarantee that you will have this option available but you can always offer your help if you really want to have a chance at reducing your rent.

I have worked in a work for rent situation that was quite a challenge but still doable for a few months. It was a really great temporary situation where I was required to do all kinds of chores around the property and then my rent was free.

If you really want to save money, make it clear that you are willing to do some work in order to save on rent.

Putting it out there that you are willing to do other tasks to make your rent less could save you on rent. But take the time to calculate just how much you are saving by doing these extra chores.

If you are not significantly saving that much money on your rent and it is too much of hassle, then go for another of the options on this list.

Calculator
Calculate the Total Expenses of Your Place

Calculate the Total Expenses of Your Place

Calculating the total expense of where you are living is likely going to give you important information about if it is really worth staying where you are living.

The total expenses could include the following:

  • Rent
  • Utilities(water, heat, electricity)
  • Commute Expense from work
  • Any inconvenience factors such as no internet or driving to a local laundry mat to clean your laundry

Even if your rent expense is not particularly expensive, when you add up all the other costs to live where you are living, the expense could be quite significant. If you live far from work and it is inconvenient and expensive to get to work, then this could become a significant expense.

The utilities in your place could be adding a lot to your overall household expense and factoring this in is very important.

If you are looking for tips on how to save money on a key utility expense, read How to Save Money on the Heating Bill.

Not being able to do laundry on your property could add up to be a significant expense and inconvenience. I have to currently drive to a local laundry mat to clean and dry my laundry which is doable but an inconvenience.

Calculating your total expenses for your place will give an accurate idea of what it really takes financially to live where you are living.

Become a Resident Manager

Becoming a resident manager or a property manager could help you get very good deals as long as you are willing to be on call to do a lot of little tasks.

This option could help you find a job that pays some but more importantly could give you a great deal on a place to live. This is because you would be expected to keep up with the general wear and tear problems that come up in your apartment complex.

A resident manager is generally on call a lot for any significant problems that come up but this could be a potential way to save money.

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Move to a Different Town

Move to a Different Town

There comes a certain point when you look at your expenses and determine that moving to a different town could end up saving you a lot.

Whether you are planning to move to a different state, county or even one town over, doing the proper research is going to be critical to find the best deal.

I live in a very expensive county and it took some real time to finally get a reasonable rent spot here. I have many friends who are still looking for a reasonable spot and it could be a long time before something comes up.

Moving to a different town could be an exciting opportunity, whether it is far away or right down the road from where you live currently.

Admittedly I am mostly giving tips for how to find a place relatively close to where you live now because that will be less of a significant move.

In Closing

There are many ways to save on where you are living and many resources to use to find affordable rent locations. It can take some significant time so being patient about the searching process for finding an affordable location is going to be key.

If you use the above tips, then you are likely to have a much better chance at finding an inexpensive and great spot to rent.

One of the biggest ways you will aid yourself in finding an affordable rent situation is by actively searching and making this a priority in your life.

I hope that you liked this post and found helpful information on how to save money on rent.

If you have any questions, please feel free to leave them below and I will answer them as best as I can.

6 Replies to “How to Save Money on Rent – 8 Helpful Tips”

  1. Paying up-front seems like a smart move. I never thought of this. We once even used one of our spare rooms for Airbnb, but I guess your landlord needs to be ok with this.
    It worked for us for a couple of months, perhaps also because it is a touristy area, and even some long weekends, we would use Airbnb to rent out the whole apartment.
    Become friends with your landlord always helps 🙂
    Thanks

  2. A lot of good information that probably most of us wouldn’t consider when renting. The more you know the more equipped you are. Great article thanks

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