One of the biggest expenditures that most people have to deal with is rent. Statistics reveal that apartment landlords get up to 30% of a renter’s income. Due to the high cost of living, this percentage keeps on rising as some landlords add the monthly rates. This is what makes most renters stressed as they keep on moving from one apartment to the next looking for cheaper rates. You can, however, rent with ease if you follow the tips below.
Look for an ideal location. Your specific location can help you save on some costs. For instance, you can choose to live in an apartment that is near your office so that you don’t pay transport. Reducing this cost ensures that you have enough for your monthly rent and savings. You should also choose an apartment that is located near other amenities such as restaurants, schools, and hospitals.
Find a roommate. Do you have a person you get along well? Consider renting an apartment together to split the rent. You not only save on rent but also other utilities. For instance, you can decide to pay for gas and let them pay for the internet. This option makes it easy for both of you to afford a bigger and nicer apartment than staying alone. If you don’t have a good person in mind, you can use websites to help you identify a compatible roommate.
Take charge of your finances. If you have a high credit score, you give the landlord confidence since their priority is protecting their investment. Financial stability makes it easy for you to rent without experiencing problems. You can even negotiate for fair rates if your finances are in order.
Landlords sometimes understand tenants since they may have struggled with finances while investing. You should therefore not hesitate to ask for a discount. For instance, if the apartment needs some minor repairs, offer to do them in exchange for the 5% discount. If you intend to stay in the apartment for a while, request to sign an extended lease contract at a lower rent. Your landlord would not mind consistent rental income even if it is a bit lower than what they charged initially. If they agree to offer you a discount, they should lay out this in writing to avoid future conflicts.
Make use of technology to find affordable apartments in Malaysia. This can prevent you from incurring real estate agent costs and save you time. Feel free to use different websites compare apartments until you find one that is within your budget. You should also think about renters insurance. The landlord may be responsible for protecting your house against damage caused by fire, but they are not responsible for your personal property. Though renters insurance may be an additional expense to your budget, it can save you from starting from scratch if a fire occurs. Saving on rent can free up your finances for the rest of your needs.