If you are on a hunt for renting an apartment, then you will definitely be looking for leasing the best apartment you can within your budget. And for this, you need to know how to look for value-for-money apartments, how to negotiate with the landlord, and so on. Below, we look at five tips that can help you get better deals on apartment rentals.
Look For New Construction
An easy way to get a cheaper apartment lease is to target new construction. Since the building is new, the owner will primarily be concerned with leasing it out as soon as they can. The more rooms remain vacant in the building, the more pressure there will be on the landlord. As such, new construction apartment owners will be far more willing to lease you their property at a lower price than other similar apartments in the region. So, when you search for an apartment, make sure that you list out all the newly constructed buildings and call them first before calling other established apartment complexes.
Some apartment owners will give you a discount if you sign a longer lease. So, if you like an apartment but you think that the landlord is asking a higher rental amount, consider bargaining with them by agreeing to a longer lease period. For example, if the lease term offered by an owner is for 6 months, ask them whether they will reduce the rent if you lease it out for 12 months.
To get better deals, look out for apartments during when very few people search for it. This will ensure that the landlord is more willing to rent the apartment at a lower rate since they are not receiving any inquiries. For example, you can check out apartments during winter, when most people would be averse to moving because of all the snow covering the roads. And when you approach a landlord during this period, they are likely to lease the apartment to you at a discount rather than risk keeping it vacant until the end of winter.
Search More Widely
Don’t be fixated on getting an apartment in the exact location you want. Unfortunately, that may not happen. And even if you do find an apartment, it might be priced too high for your budget. As such, it is recommended that you look at properties in the surrounding region. They are likely to be less costly while having the exact features that you are looking for.
If you are too tight on your budget, then consider leasing an apartment on a twin sharing basis with another person. Sure, you will have to share your room with a total stranger, and this might affect your privacy slightly. But you can easily halve your rent by sharing the apartment with a person. And when you do have a good enough income, you can think of renting alone.
So, keep the above tips in mind when you are trying to find an apartment near you, and you will definitely be able to identify and lease properties at cheaper rates.