Having trouble finding an apartment on one income? Check out these tips!
Tip #1: Get roommates.
The best way to be able to afford a place is to get more people in it. You’re much more likely to find an affordable apartment on a larger, combined budget than on a single income.
Tip #2: Find out which moving times are most popular for renters, and avoid them.
Although unit availability goes up during popular move times for renters, the increased demand drives rent prices up substantially too. Take into account where you’re looking to live – are there universities nearby? Does the weather change seasonally, or is it fairly standard all year round?
Tip #3: When you find a place you like, jump on it!
Most people don’t realize that rent prices can change daily. (Our Customer Service Team has seen rents fluctuate as much as $30 in a single day.) If you find a place you love and the price works for you, it could serve you well to express interest, let the leasing agent know you’re serious, and even fill out your application right on the spot! If you know you’ve found the right fit, don’t fall into the trap of accidentally increasing your overall financial burden just because you decided to think on it for a while. Take the leap!
Tip #4: Negotiate on a fixer-upper.
Consider committing to an apartment that’s under-budget, and make improvements yourself if the landlord won’t cover it. If all the place needs is a fresh coat of paint or a new faucet fixture, these are one-time fixes that will be much cheaper in the long run than renting a more expensive apartment that has all the perks.
Tip #5: Choose your amenities wisely.
In-unit laundry vs. onsite laundry. Renovated unit vs. non-renovated. Most renters prefer having in-unit laundry and living in a nicely upgraded apartment. Those units tend to get snatched up first and have a higher demand, so property owners can afford to raise rents on them. Choosing an apartment that doesn’t have these luxuries might not be as… well… luxurious, but you could get a pretty awesome reduction in your rent cost for minimal inconvenience!
Check out the entire list here!