11 Tips To Save Money On Rent
According to the United States Census Bureau nearly half of American renters are considered cost burdened. Meaning they spend more than 30% of their income on rent. If you’re thinking about moving its better to plan ahead to make sure you get the right deal. Today we’re going to explore 11 strategies you can start using today to hopefully save money on your next apartment.
Know If Your Paying Too Much Compare your current rent with similar apartments on the market. You can do this through zillow.com, apartments.com and more. In the future Ditch My Rent will be launching a handy new feature called “Am I paying too much” which will allow you to compare your current rent with average rental prices in the market.
Negotiate With Your Landlord: Don’t be intimidated at the thought of discussing price with your landlord. Point out your positive rental history, timeliness in payment, and willingness to sign a longer lease. Landlords often value steady, reliable tenants. Also if you move out they will have likely have to incur some costs to replace you. So its always worth having the discussion.
Live With Roommates: If you’re currently living on your own, bringing in a roommate can be one of the most straightforward ways to cut down on monthly costs. Splitting rent, utilities, and even grocery runs can result in notable savings. Having a remote can also benefit you in other ways beyond financial. Shared household responsibilities, companionship, and greater sense of security just to name a few.
Downsize Your Space: Reassess how much space you really need. A studio or a smaller one-bedroom apartment often comes with a smaller price tag. Even if you lose some square footage, you’ll likely gain room in your budget.
Time Your Move Strategically: The season you choose to search can affect pricing. During off-peak times (like winter), landlords may be more flexible and open to rent reductions, as fewer renters are competing for the same space. You’re more likely to find a bargain deal.
Search Beyond Big Rental Platforms: While popular rental listing sites are convenient, don’t overlook local bulletin boards, community Facebook groups, or postings on neighborhood forums. Private landlords who want to avoid listing fees might advertise there, often at lower prices. Also posting to social media with exactly what you’re looking for can often be very fruitful.
Look for Move-In Specials or Incentives: Many property managers offer discounted deposits, waived application fees, or a free month’s rent to attract tenants. Take these offers into account over the life of your lease—they can add up to substantial savings. These days rental concessions are becoming more frequently for new leases. Make sure to read up on net effective rent to make sure you fully understand the concept. Its becoming more common for landlords/property managers to advertise rental apartments this way.
Negotiate Utilities and Amenities: If certain costs—like water, parking, or laundry—are controlled by your landlord, consider asking for a bundled discount or a fixed utility rate. Even a slight reduction in these ancillary costs contributes to lower overall monthly expenses.
Offer Maintenance Assistance: If you’re handy or have skills that can help maintain the property, consider volunteering to handle minor repairs, yard work, or snow removal. In return, you could ask for a reduction in rent. Landlords often appreciate cutting out middlemen and the associated costs.
Sign a Longer Lease: Stability is valuable to landlords. If you’re content to stay in one place for a while, leverage that by agreeing to a longer lease term. Many landlords will reduce the monthly rate to ensure a guaranteed, hassle-free tenancy. Remember every lease is a negotiation so don’t be afraid to make a few offers to the landlord.
Move: Sometimes the best way to save money is to move. There are many cities/states in the US offering incentives to attract new residents. Feel free to check out this article on relocation incentives. to see if one of them may work for you.