Life as a student isn’t easy. Not only do you have to be away from home but you have to be responsible with your money. Renting as a student is one of the costliest expenses you’ll have. Naturally, students look at all kinds of ways to save money on renting.
And that’s exactly why we’re here. In this article, we will look at the 5 ways every student can save money on renting. So if want to get the most out of your money, make sure to continue reading. With all that said, let’s start.
Find A Housemate
Living with other people is the best way to save money on renting. Considering that many students go down this route, it’s only a matter of time before you consider it. Sharing livable space with other students will significantly lower rent costs. Since you’ll be sharing the bathroom, living room, and kitchen, your share of the rent will drastically lower.
Studies show that three persons living together is cheaper per bed than one person per bed. This isn’t only because three people will be sharing the livable space, but also because you’ll be sharing the bills. From internet and utility to electricity and even subscription services, finding a housemate or two will drastically lower renting costs as a student.
Learn To Negotiate
Many of you reading this article will find yourselves in a situation where you’ll be dealing with the landlord as opposed to 3rd party real estate agencies. This presents a unique opportunity to get a better deal.
Landlords don’t particularly like to negotiate. They have a fixed price on rent and they expect tenants to respect it and agree on it. But considering that you’re a student living on a budget, it wouldn’t hurt to learn how to negotiate with your landlord.
Many refer to negotiating as haggling. And as you might expect, many landlords hate the idea of haggling. But some are open to it. Chances are, you’ll know beforehand whether your landlord is open to the idea. If they indeed are, then it’s time to learn how to do it.
Haggling is a form of art. Not many can do it and only a few people are good at it. The vast majority of people in real estate are excellent negotiators. These are your real estate agents. Agents can save you plenty of money when buying houses, and you’ll need to become an expert negotiator if you want to also save money on your rent. It doesn’t hurt to try and who knows maybe you’ll be so good at it that you’ll consider becoming a full-time real estate agent.
Smaller Bedroom = Lower Rent
If you do decide to go with one or more housemates, chances are you’ll find tons of properties with different bedroom sizes. Landlords charge rent based on the whole property, but the cost is distributed differently based on what size bedroom each student gets. Everyone will pay the same when it comes to the kitchen, bathroom, and living room, but you’ll pay more or less depending on what size room you go for.
If you go for the smaller room, then you should ask to pay less. This won’t be much and it will depend on what size the bedroom is compared to the others. Regardless, this is a great way to save tons of money on rent.
Look At Properties Further Away From Your University
You might think you’ve scored a deal by renting a property closer to uni. But these properties are more expensive to students as the closer the university is, the higher the rent will be due to convenience. If you want to save money on renting as a student, then look at properties further away from your uni.
If there’s plenty of ways to reach your university from this particular location, then it would be a no-brainer move to go for it. But if you find the cheapest possible rent and if there aren’t many transport links to your university, then you shouldn’t be moving into this area. You should always think of convenience first and price for rent second. The last thing you want is to be walking large distances every single day.
Look At Properties Specially Designed For Students
A student property won’t cost the same to rent as a normal property. If you’re on a budget, this gives you the best possible chance to pay less on rent. There are plenty of landlords on the market that rent properties to students. These are generally pretty inexpensive and offer tons of free services. You can easily find these accommodations by going on Google and looking at websites that exclusively cater to the housing needs of students across the country.
Some of the best ones are Uniplaces, Amber Student, Roomi, and more.
There are tons of great ways to lower renting costs as a student. From picking a less expensive location to moving in with housemates, the options are endless. We hope that the 5 ways we mentioned will help you when the time to save money on rent comes.