America's population of renters is increasing continuously. This is why the rental prices are driven to new heights. Almost 50% of renters in America are spending more than 30% of what they earn on housing, and one in four homes spends more than 50% of their income on housing.
If you're part of the renter statistics and if you are always on the look for ways to save on rent, here are a few tips for you.
How Do You Negotiate Effectively?
Landlords may be willing to negotiate with their asking price, if they see you as a reliable tenant. So, when you negotiate, be ready with your bank statements, credit history, and past rental references so you can be seen as a trusted tenant. Don't forget to ask if they can lower the rental price if you commit to renting the place for a longer time and if you can pay a few months' rent in advance. There is a big chance that landlords won't let go of a chance to have reliable tenants.
When Is The Best Time To Rent?
The best time to rent is in the winter and early spring. This is the slow season for rental homes. During these times, landlords may be more willing to negotiate with their asking prices. Timing is key in getting the best deals. However in home rentals, seasons for lower rental rates may also mean that there is a lesser number of rental properties.
How Do You Protect Your Security Deposit?
Read your lease contract carefully. The landlord may keep all or part of your cash security deposit if you neglect any moving-out guidelines, like cleaning the home. Before moving in, make sure to take photos of the existing damages and send a copy to your landlord to avoid taking responsibilities of any past damage.
What Is The Scope Of The Landlord's Expense Obligations?
As a bonus tip, you must take out an affordable renter's insurance to protect your personal stuff. If something happens such as a flood or fire, your landlord is only required to repair the home. Any of your personal belongings that get damaged won't be taken care by the building owner.
