4 Ways To Bring Down the Cost of Rent Without Moving

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According to a March 2023 report from RentCafe, the average rent in the U.S. was $1,702. The rent you’re paying could be significantly more or less than this, depending on where you live and the size of your home. However, one constant thing for everyone is that there are ways to lower how much you’re paying without moving.

Keep reading as we dive into some things you can do to continue living in your current home with a lower rent payment.

Sign a Multi-Year Lease Agreement

Finding good tenants that pay their rent on time each month can be one of the most challenging tasks for landlords. The next time your lease expires, ask your landlord if you can sign a multi-year lease agreement. This will keep the price the same for the entire lease period and will provide your landlord the opportunity to avoid looking for new tenants in the near future. 

Have Your Lease Agreement End During The Winter

If you live in a cold weather area, you’re probably well aware that moving in the winter isn’t much fun. Moving day could bring sunshine and warm temperatures, or it could mean a massive snowstorm. This causes rental demand to be much lower in the winter months. It can also mean more leverage for you to get a better deal on your rent. 

Try to get your next lease agreement to end during winter. For example, if your current lease ends in July, offer to sign an 18-month lease. That means the future lease would expire in January. You can ask for a reduced rent because it will be more difficult for your landlord to fill a void in January. Remember that being a good tenant who pays on time will help your case even more.

Get a Roommate

If you have an extra bedroom, consider getting a roommate to help split the cost of rent and utilities each month. If you decide to go this route, have your landlord add them as a second tenant on the lease agreement. This will make them legally responsible for their portion of the rent and liable for any damage they may cause.

Negotiate Rent Increases With Your Landlord

Landlords hate having tenants that don’t pay their rent on time. It makes their job more difficult because they’re continuously hunting down rent checks. If you’re a good tenant who’s been in the home for a while, it can’t hurt to have a conversation with your landlord. Tell them you enjoy living in the home, but the price has become a little out of your budget, and you were hoping to get a reduced rent on your next lease. Ideally, some similarly sized homes in the area have lower rental prices to help your case further.

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