How to Cope With Increasing House Rent?
When you move to a new place there are chances that in the start you might get an affordable rented place to stay in but then with time, the landlord might ask you to pay more rent. You might have saved a lot of money working with cheap moving companies long distance but this renting thing is taking a toll on your financial planning.
The rental property market scene is on fire as the rent has increased significantly in the last few months. Renters are worried about how to keep up with the rising expenses as house rent makes a significant part of their overall monthly expenditure as well as salary. In such a situation, you need a steady approach to fight things and uncover an answer.
You need not panic and affect your work life rather must use some smart moves or expert advice on getting an affordable rental price. Here are a few suggestions that can help you to get the rental property at an affordable price and would even help you stay stress-free.
Have a conversation with your landlord
At this point, discussing your problem or rent issue with friends and family won’t work. Rather you should directly talk to the concerned person that is the landlord. Make him understand your financial condition and ask him to be a little easy in regards to the rent. Be polite to him and explain the whole situation which you are going through.
Try to make him develop empathy for you. When you adopt this practice, he would understand you and for some months might provide you with ease. Maybe he could even reduce the rent which is already existing.
Prepay your rent for a few months
When you think that increasing rent is becoming an issue then the best way to convince your landlord is to talk to him about paying rent for few months in advance. When you offer this kind of negotiation, so the landlord might adjust as he is getting a good amount of cash in advance. With this practice, you can easily safeguard yourself from the increasing rent.
Find a roommate or a housemate
When you understand the nature of your landlord and you think it is a rare possibility that he would reduce the rent for you, in that case, you can likely look for a roommate or a housemate. Though there would be some amount of disturbance to your privacy the rent you pay for the property would get divided into two equal parts and it would not disturb your financial cycle. You can easily enjoy staying at that place without any stress of increased rent.
However, when you look for a roommate or housemate, make sure you check your compatibility with him/ her before hitting off the road. Having a like-minded partner at home is the best way to feel comfortable and safe under your roof.
Look for other houses in nearby locality
When you understand that the landlord won’t adjust at any cost and it is difficult for you to pay the rent then the best option is to look out for another accommodation. Maybe you can move to some other street or find a space which has a small area. With this practice, you can find a new home and save yourself from paying the extra rent.
Talk about increasing the lease period
Talk to your landlord about the increase in the lease period. You should explain to him that you want to increase the contract of staying in the house. The lease period is usually 12 months but then you can ensure him for 2 more months which would make him feel safe in terms of regular income and he won’t have to find another tenant for his property. So with this practice also the landlord might feel relaxed and happy and as a result, won’t increase the rent for you.
Thus these are some of the ways by which you can safeguard yourself from paying extra rent. Though these ways require you to act smart, develop communication, and be in a convincing mode but then to save money some kind of effort is to be put in. So make sure you follow these practices and save yourself from the stress of increasing rent.
2 thoughts on “How to Cope With Increasing House Rent?”
The issue with increasing rent is such a difficult one for both tenants and landlords. It seems like there’s no end in sight for the inflation that’s affecting housing, transportation, food, and other necessities.
Even people who in the past have not had to worry about finances are having to take a new look at how to save money to make it stretch further.
I appreciate your point in discussing lease lengths. I’ve managed several rental properties and have been willing to lower monthly rent if the tenant would agree to sign a 24 month lease in lieu of 12. This obviously saves the tenant a little on monthly rent, but could also save the landlord some money as he/she doesn’t need to worry about a possible vacant month while finding a new tenant (at the end of 12 months). It would be worth asking at least.