Tips for how to save money on renting

how to save money on renting

Written by Sarah Mukaddam

An engineer turned content writer, Sarah is a self-proclaimed bookworm. Armed with a keen sense of story and the gift of the gab, she works as a content writer at UniAcco.

Last updated Jun 16, 2020

Budget is a huge issue as a student, you have to work your way around with very little to go on. Apart from your tuition fees, rent is the next big chunk of your monthly expense. Selecting the right room for you is very important as it cannot be easily altered or reversed. This can prove to be a daunting task, especially for international students. It becomes difficult for an international student to finalise a room because of various reasons, being unfamiliar with the surroundings and not being present in the same location are the major hurdles.

While selecting a room to rent there are a lot of variables to consider; such as room type, cost of the room, vicinity, proximity to the university, proximity to train station or bus stop, etc. Make sure to choose a place with a clear-head checklist, choose only the room that checks all your boxes. Here are some ideas on how to save money while renting;

Share your apartment- 

how to save money on renting

Renting an apartment by yourself is always costlier than living in a shared apartment. Several students are opting for shared apartments because they get to have company as well as the rent is cheaper. Shared apartments come in either en-suite or non-en-suite types. You can either go for a shared apartment in one the PBSA accommodations or share a penthouse or townhouse. There are a number of shared apartments available for rent across several PBSAs. Sharing an apartment not only enables you to save on your rent but also inevitably gives you a support system of either fellow classmates or seniors.

Save rent during summer-

how to save money on renting

Summer usually represents the time for holidays and holidays in college or uni usually means either a trip back home or a vacation somewhere else. If you rented your apartment for the whole duration of your stay, which includes the summer, then you might want to think of either thanking to your landlord about reducing the rent or the summer or giving it to a friend who is looking for an accommodation for the summer.

Save money by renting a smaller room-

Save by renting a smaller room-

A room that is small is not only easier to maintain but also costs less. Renting a large room which inevitably will create a lot of trouble for you, keeping it clean, the rent of the room whilst other expenses like food, clothes, stationery. Renting a smaller will save you some money as well as keeping it clean will be a lot easier.

Rooms further from the university cost less-

Proximity to the university increases the costs of the room. The further you select a room from the uni the less it will cost you. You can choose to commute via walking, cycling, public transport. The walking will also give you your daily dose of exercise and save you gym money. But be cautious of how further away from the uni you select your room, extra time will be required for everyday travelling. This travelling can get to you after a while, hence be cautious of the distance.

Look at options before selecting one-

Look at options before selecting one

Look at various types and styles of rooms before selecting one. After selecting the type and style of room, view several rooms of the same type and style then select one. Take your time selecting a room, start the section a process as early as possible. Starting the process late will lead you into panic and you might end up regretting the decision. Take help by experts when in doubt.

Keep the room in the same condition as you get it in-

Check the room for any flaws when you start your lease and try to keep it in the same condition as you got it in. Any damage to the room will be deducted from the booking deposit you initially pay or you would be asked to pay for the damages. Note the flaws or damages and mention it to the landlord at the time of moving in.

Responsibility of the upkeep-

Be clear on who pays for a broken bulb or a leaking tap. Have a conversation with your landlord when finalising the room to avoid petty arguments later. You can let the landlord know about these minor fixes or ask him to reimburse you for the fixes you make. PBSAs generally have a maintenance team on standby.

Note the meter readings when you move in

Irrespective of whether your rent includes the utility bills or not, carefully note down the meter readings before moving in. If your utility bills are included in your rent then confirm with the landlord if there is a restriction on the usage or not. Noting the meter readings will help you contemplate your usage and you cannot be duped into paying extra.

Read your rent agreement thoroughly-

Agreements have to be read very carefully and thoroughly. In case you do not know the jargons, take the help of somebody trustworthy who knows the ins and outs.

agreement

Get council tax exemption-

Students with only a few exceptions are exempted from paying council tax. While selecting a room make sure your landlord is not charging you for it. PBSAs are the ideal choice for students because they are specifically built for students with their lifestyle and needs in mind.

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