Simple Ways to Save Money When Renting

One of the biggest expenses in anybody’s budget is rent. Research has found that any average renter would spend about 35 percent of their total income on rent and rent-related expenses. Fortunately, in India, the costs are little less and you don’t have to break a bank to keep rent. Here are some ways by which you can save money on rent.

Firstly, when taking a house or flats or apartments on rent in Indian metropolitan cities like Mumbai, before finalizing of the lease and signing it, it is important to talk with the landlord and try negotiating the amount in some way. There are times when you would like to sign a lease for a longer period of time and the land lord may just reduce the monthly amount. If the property owner is not very keen to this idea of lessening the rent, then you may try to get him or her to include certain utilities like parking space or maintenance charges within the amount of the rent.

One of the safest ways to save money on rent is to have roommates. Give advertisements in various social media platforms and find roommates that would best match your requirements. Living with roommates would actually help in two-fold manner, first it would be cheaper and second it would be good company.

Thirdly, sometimes the landlords are ready to provide a reduction in the rent amount if the landlord is given a tenant at the first go. If the vacant apartment is filled as soon as possible, the landlord may consider this to be a bonus.

Fourthly, once you have moved into one of the flat on rent in Mumbai you can do some do it yourself decorating so as to save some money. In some flats, the landlord allows you to paint, in others you can put up your pictures and make it pretty without investing much.

After rent, the next big expenditure is always the furnishings. The best way to avoid expenses is to go for sales and choose discounted items that would help in any way. Garage sales also helps. Ask friends and close relatives whether they would like to get rid of unwanted furniture and buy from those for your new place. Old couches refurnished makes for good furniture.

If there is a roommate, then you can not only share rent, but all other utilities like electricity, internet connection, gas and water bills also gets shared. If the roommates are understanding enough, great way to save money is to share food with roommates. Cooking in bulk is less expensive than making a single meal for a single person at a time.

Next, keep a tab of your utilities bill this is because utilities add up rapidly and can often be a budget drainer. Turn off lights as and when possible, don’t leave water or gas running unnecessarily. Saving in these small ways would help in saving big time.

Lastly, the apartment would come with its own facilities like gym or swimming pools which are added to your rent amount. If you are not keen on using it, go ahead and cancel and ask your landlord to deduct the amount from the rent. If you are planning to use it, then cancel all memberships outside and use the ones that are available within your apartment.


The content has been shared by Shanaya Mehta

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