Ways to Cut Rent Costs

Let's face it. Housing costs a lot of money.

However, there are ways to cut your rent bill. We've listed just a few ideas. With a little creativity, you can probably come up with several more ways to cut your rent bill.

Find a Roommate
If there’s an extra bedroom in your house or apartment, consider a roommate. Sharing the load can really reduce your expenses. Check your lease or ask your landlord first if you are allowed to have another person live in the unit.

To find a suitable roommate, ask friends and neighbors if they know anyone who's looking for a place to live or place notices on community center bulletin boards and in local newspapers. Be sure to specify what expenses the roommate will pay, the rules you will enforce (no smoking, no pets, no drugs, etc.), and when the rent is due. Include all of the details in a contract you both sign.

Offer to Do Repairs in Exchange for Rent
If you like to do odd jobs, ask your landlord if he or she would reduce the rent if you completed repairs or maintenance work around your place.

Be an On-Site Manager
Some apartment buildings have on-site managers who are responsible for keeping the place running smoothly. If you aren’t working outside the house, ask your landlord if the property needs an on-site superintendent. In exchange, you might pay lower rent.

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