Rented properties can be a tricky proposition. While you might be wondering whether only monetary solutions are the way to go, there is more than meets the eye. Add-ons, other terms, and various conditions can be sufficient to drive a hole in your pocket. So, how do you bypass spending more on rent, and what can you do to fix things?
In order to address the elephant in the room, you need to first ask yourself how you are allocating funds to pay for rent in the first place. For instance, a 2017-2018 data studyfrom ApartmentList.com states that more than 49.5 million Americans tend to pay about, or over 30% of their incomes on rent. Ludicrous!
Firstly, you need to analyze where your money is leaking from if you are spending anywhere or more than the said 30% of your income. Are you paying for extras that you are not availing of, or are you avoiding fine prints?
Either way, these are the most common (and logical) ways in which you can ensure that you are not bleeding unnecessarily. Consider the following if you want to save up a great deal of money, and avoid the unnecessary abyss of renting T & Cs.
1. Let There Be Light
The most important point of leakage is uncalled electricity dues. While you can start solving this by trying to inspect and replace every possible appliance, the logical thing is to start with small lights.
Try to replace bulbs with better alternatives like CFL or LED lights. These not only consume way less electricity but provide exponentially better illumination. Win-win, if you ask us.
Additionally, this supposes to decrease your inconveniences further in the long run. Not only are these newer lights more ubiquitous, but bound to provide you greater mileage than the otherwise obsolete bulbs.
2. Plumber Alert
The next important thing to keep in mind is to fix your water systems. In rented properties, you can possibly find yourself in a dilemma, wherein rust and corrosion become daily acquaintances.
This is where getting the right fix is quintessential. Not just as an immediate resolution, but as a solution for the long term.
If your water systems tend to corrode frequently, the fix is to either get better iron-alloy systems or if you want to save some more money, consider plastic or carbon materials.
Mitigating iron-laden problems become all the more important if you tend to not use additional filters. This corrosion is detrimental if it enters systemic boundaries.
The advantage of plastic or other similar materials is indescribable. Not only do they last in the long-term equation without any systemic effects, but they are pretty easy and inexpensive to repair and replace.
3. Assurance and Insurance
You might want to consider renter’s insurance, next. After all, insurance is the surest assurance.
Sure, you do not have to be acquainted with intricate knowledge regarding what is renter’s insurance, or how it works. All you need to know is that it is an umbrella term that is bound to save you a lot of money in the long run. But hey, don’t forget to read about insurance terms carefully and make a sensible decision that suits your needs.
If there is some grading damage to the property, your insurance is bound to cover it. This would not only save you from dipping your hands into your pockets but the assurance and peace of mind that comes with it is indescribable.
4. Basics of Design
The other logical thing that will save you money is efficient design or renovation.
For instance, you can save a ton of money by efficient interior design to increase insulation, instead of splurging on heaters when not needed. This saves a great deal of electricity too.
The other thing would be pruning the elements in your garden (in case you have one along with the rented place) in order to save money that otherwise would be deemed lucrative by professionals.
5. No Need for Greed
The final thing to keep in mind is that you need not keep belongings in the rented place that you do not need.
For instance, if there is a tele in your room, be sure that you are not being charged unnecessarily for it. If the case is so, request to get rid of it, or try to obtain a usage-based middle ground.
There is no need for other belongings that you do not need, especially if they are under the garb of entertainment—certainly not when you want to save a few bucks.
To Conclude
Keeping costs down with regards to your rented place is imperative, especially if most of it can be done without hassle. Keep the said points in mind, and you can use the aforementioned savings in other ventures.
