The Rental Secrets Everyone Needs To Know

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The thrill and excitement that comes along with renting your own space is satisfying. Fancy, up-to-date, and user-friendly accommodations are necessities for many. They are just as important as the joy that comes with having a roof over your head in a safe location.

However, renting does come at a cost, and in these difficult financial times, getting the most value from renting while saving a couple of dollars comes in handy. Also, lowering your monthly rent once a lease is signed serves to be a bit more complex. However, you can save rent using proven strategies.

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So, have you narrowed down the location you want to rent? Here’s what you need to be aware of;

• Rent varies according to different seasons

​During the summer, the asking rents are higher because several life changes happen during the months in that season.  The high rate of activities happening boosts the cost of monthly rent and rental fees as much as double what might be negotiated during the off-peak seasons of fall and winter. Also, because the weather is warmer in the summer, it is easy to move around one’s property from one place to another. 

​As winter approaches and the temperature drops, so do the prices. The lowest rental rates are usually found between October and April, particularly right after the December holiday season: Fewer people are interested in moving—the weather's bad, schools are in session, etc. So, individuals renting between December and March typically find the best rental bargains.

• Rent differs from state to state

The amount you pay as a resident in California does not compare to someone in West Virginia. The rates in different states have always been a discussion on social media, and you should take note of this as you lookout for an apartment to rent. 

• You can bargain your rent

Rent prices are negotiable, and you can before signing a new lease and when it’s time to renew your current lease. If you are curious about why you should do so, the answer is you can save money. Isn’t that a good thing? 
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• The placement/size of your apartment

For some apartments, rent differs due to location or floor. An apartment with a city view may cost higher than an obscure view.  Smaller apartments tend to be higher than bigger apartments, and in most cases, if you can downsize on your living space and find ways to manage, you can channel some of that rent money to savings.

• Be flexible

In this case, be open to the idea of viewing older apartments that you may not have given a glimpse of. This is because older apartments are generally less expensive to rent than brand new ones. You can also ask for refurbishments to be made to the apartment so you can comfortably live in it. Once the renovations are made, you will have saved money and acquired a space.

• Work as an Apartment Manager

If you are hands-on with tools and willing to offer your support to the apartment complex like collecting rent checks, reporting any issues to the landlord, and watching over the apartment you can possibly live rent-free to bargain your rent with the landlord. As a tenant/renter you should be aware of the power you hold to bargain your rate and value the relationship with your landlord because you both compliment each other. 

Justin Pogue spilled all these secrets in the latest episode of The Money Exchange and you can listen to it first hand right now.

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