Top 10 ways to lower your rent

Lower Your Rent

Here's how to use what leeway you have.

In these difficult financial times, it is helpful to save money in any way that you can. The following tips could help you reduce the rent on your house or apartment.

1.      Negotiate with the property-owner

Before you renew your lease, research the prices that are charged for similar rental houses or apartments in your area. Write a respectful letter detailing your understanding of the current average rents in your area and make sure you emphasize your excellent record as a tenant. Property owners may be willing to negotiate rent prices with current tenants rather than going through the hassle of finding new tenants.

2. Use Craigslist to secure a roommate

Craigslist's "rooms and shares" section can be a good way to get a roommate or roommates who can help reduce your monthly rental costs dramatically. You could cut your rental costs in half, and typically, the more roommates, the more you can expect to save. Make sure to screen any potential roommates for poor hygiene, bad boyfriends or body odor ahead of time or suffer the consequences.

3. Be willing to walk or ride the bus

In larger cities with well-established public-transportation systems, apartments that are closer to train stations and bus stops can be more expensive. If you are willing to walk a block or two, you could save yourself a couple hundred dollars a month. It also could be cheaper to rent an apartment when you do not need to reserve a parking space for a car.

4. Help out the landlord

Some landlords will be happy to give a discount if you offer to do some extra work around your rental unit. If you are renting a house, offer to perform seasonal work, such as cleaning out the gutters or shoveling snow. If you are in an apartment, offer to paint the walls or refinish the cabinets. When you can perform the maintenance yourself, the property owner will not have to hire someone else. You and the owner can save money.

5. Ask someone you know

Talk to your friends or colleagues about helping you find a cheaper place to live. Someone in your social network could have inside information about a property that is offered at a substantially lower rate. Renting from a friend can make moving smoother and more fun, in addition to saving you money.

6. Prepay or sign a one-year lease

Some landlords may offer discounts for tenants who prepay their rent. The guarantee of having a tenant who has already paid for the next few months makes it easier for a landlord to cut the price of the unit. A one-year lease also offers a more stable relationship between the landlord and tenant than does a month-to-month agreement, and that can lead to a rent reduction.

7. Work as an apartment manager

If you are handy with tools and are willing to work as an apartment complex manager, you might be able to live rent-free. The reduction in your rent will depend on the level of expertise you are expected to provide and the size of your apartment building. You could get a discount for simply offering to keep an eye on the property, collect rent checks and report any potential problems to the owners.

8. Expand your search for a new apartment

Do not limit yourself to the apartments that are listed in the newspaper or online. Drive through the neighborhoods you would like to live in and look for for-lease signs. Rentals that do not advertise extensively can offer lower rent because they do not spend as much money looking for tenants.

9. Be flexible

Older apartments and houses are generally less expensive to rent than new ones. Do not accept a building that is falling apart, but keep in mind that older dwellings that are well-maintained can be just as comfortable for far less money.

10. Consider a new city

Location is a large part of the price of rent. Sometimes you can save a substantial amount by driving just a little farther from your desired location. Research the cost of renting outside of your immediate neighborhood. It can also save you some money if you have the flexibility to move to a new city where rents are lower overall.

By Chad Fisher of U.S. News & World Report

Buying a Home With Good Resale Value

The time to think about selling your home is the day you buy a home. If you buy a home with good resale value, it should be fairly easy to sell if and when that time comes. But some home buyers never consider resale value when they buy. They make the mistake of focusing solely on whether the home suits their own needs.

Number One Rule of Home Resale Value

Location. You hear agents repeat the phrase in triplicate: location, location, location. If you choose a home in a desirable location, odds are that location will remain in favor, which will always attract a larger pool of home buyers.

Alternatively, if the location is less than desirable, it's possible that your future sales price will always be less than the other homes around it, and you may attract a smaller pool of home buyers.

A few years ago I listed a home on a busy street in the Land Park neighborhood in Sacramento. It wasn't selling because the sellers had picked a sales price in line with comparable sales around the corner, on quieter streets. I asked why they ever bought this home. Because it was the cheapest home for sale in Land Park. We lowered the price to make it the least expensive home in Land Park, and it immediately sold.

Be careful that the characteristics of the neighborhood are not undergoing a change. I once bought home in Eden Prairie, Minnesota, that enjoyed pond frontage. If I had checked the city records, I would have known a major thoroughfare was in the works about a block away. Five years later, it was difficult to sell this home with cars zooming by at 60 MPH.

Basic Indicators of a Home With Good Resale Value

First, define the type of buyer who would purchase such a home. Then think about the type of home that kind of buyer would need. Does your home fit those parameters? Here are indicators of a home with good resale value:

• More than 2 bedrooms.

If almost every home in your neighborhood has only 2 bedrooms, owning a home with fewer than 3 bedrooms is most likely not a drawback. But it is a drawback if you're trying to attract, say, a couple. Many couples need a guest bedroom and an office, if not an office for each occupant. A home with 3 bedrooms or more is always a better choice to ensure future resale value.

• More than one bathroom.

Buyers will still buy a one-bath home but they expect to pay much less for it. Given a choice between a two-bath home versus a one-bath home, first-time home buyers will almost always opt for the two-bath home, even if the cost to install a second bath is much less than the price difference between the two homes.

Moreover, it's not enough to simply have two or more baths. A home without a master bath will suffer a lower resale value.

• Family space.

The term family is a bit misleading. A family space is any space in which a group of people can congregate. Whether to entertain friends or host a neighborhood gathering, buyers want an extra room that is spacious and informal. The days of the formal living room and parlors are over. Every space in a home today has a specific purpose and sometimes a dual purpose.

• Storage space and closets.

Don't ask me why, because it goes against my grain, but people in the 21st Century collect too much stuff. They've got to store it somewhere. Walk-in closets are almost an essential. Homes with small closets are hard to sell.

• One level.

When I was a kid in the 1950s, homes with 2-stories were more desirable but that trend has reversed itself. Even if the sacrifice is yard space, most buyers prefer a one-story home. Single levels are handicap accessible. However, in neighborhoods with a mix of two-story and one-story homes, don't buy a single-level home surrounded by multiple-story homes as those have a bad home resale value.

• Garage.

Unless you live in an urban area that relies mostly on public transportation, you need a place to park your car, preferably 2 parking spots. If it's a covered, enclosed area, all the better.

• Good flow, layout.

Few buyers want a chopped-up, closed-in space. Home buyers prefer natural light and open spaces, with a common sense flow that is interconnected without satellite rooms. A wing is acceptable; however, many families with young children do not want the master suite separated from the other bedrooms.

• Updates, remodeled.

Simple, do-it-yourself home improvements can greatly enhance a home's resale value. The two best rooms to remodel are the kitchen and baths. Home buyers prefer central heat and air, and some loans such as the energy efficient mortgage will provide for such updates upon purchase.

Resource: By Elizabeth Weintraub, About.com Guide

Choosing Between Furnished and Unfurnished Apartments

Are you thinking to shift to a new apartment? Have you ever given preference to a fully-furnished apartment? Whether you are shifting due to your job requirements or due to your higher studies, looking for an apartment on rent is a time-consuming task.

If you are not able to decide whether you should go for furnished apartments or unfurnished apartments, then this article might be of your help!

Generally, when we think of shifting to a new place, a lot of planning and research is required to find a suitable place that suits our taste, preferences and comfort level. The work gets multiplied when the long list of planning includes arrangements which need to be made for shifting the old furniture and other utility items to a new place. In addition to this, arranging the items in a new place is also one of the daunting tasks which require a lot of labor and time.

So, furnished apartments definitely help you to reduce the work of arranging the old furniture or purchasing new furniture to fit in your new apartment. Moreover, you do not have to spend money on purchasing expensive furniture and equipment for your home.

Well, if you are not purchasing new things to decorate your apartment, then you, of course, are saving a lot of time and efforts in selecting the perfect showpiece to match with the furniture and walls of your home.

So, when furnished apartments are saving time, money and efforts, then giving preference to unfurnished apartments is an impractical idea.

But still if you want to decorate your home in your manner, then you can surely opt for unfurnished apartments. The final decision is of yours!

Think wisely and act smartly!

Source: Ezine Articles