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Ways To Save Money As A Tenant

For the many millions of us that rent our accommodation the need to save money right now is a pressing need. There are steps that we can take though to save those pounds and make cash go further. We took a look at ways to save money as a tenant. 

Fill The Bedrooms

If you have a spare room, then you may consider renting out that room and sharing the costs. As long as you don’t mind living with someone. You would need the owner’s permission, but they may appreciate the change as it makes payments more secure, especially in the current climate. It will halve all costs, including bills. The only change would be the end of the council tax discount if you currently live alone. However it will still be cheaper for you, as obviously 50% is less than 75%. Check your contract terms and see what is permittable.

Or Rent Out Garage/Drive

If you have a spare garage and you live close to popular public transport, you may be able to rent out the space to a commuter. This can make you a pretty penny with little downside. 

Ways To Save Money As A Tenant – Financial Audit

You need to take this opportunity to reassess what you already spend, and calculate what you can save by cutting down on certain expenditure. We all have things we can cut that will not adversely affect our quality of life. Cut out this stuff and keep the cash instead.

Learn To Solve Problems Yourself

By which i am suggesting learning some DIY and basic repair skills. This can be anything from learning tech solutions, to woodwork, and replacing fuses and the like. And in the modern world, there is a wealth of free advice online, a solution for any problem. Just remember not to put your safety in danger. Only carry out safe jobs you are comfortable and confident doing. 

Ways To Save Money As A Tenant – Negotiate on Rent

Which ties in with this. Your landlord should be contractually obliged to deal with any repairs.  But if you take over responsibility for upkeep, you may be able to strike a deal. You may be able to anyway if you have been a long-term reliable tenant. And if you are struggling to get by, it is worth asking the landlord for a deal. Because he or she would rather keep you there than have to source a new tenant who may cause them constant problems. 

Pay for Utilities Separately

When you pay your landlord a single all-inclusive figure, including heating and electricity, then you’ll be paying the same amount, regardless of usage. Landlords may include a ‘fair usage’ stipulation to protect them against tenants who want to run the heating constantly. And they’ll also permit themselves some significant leeway so that they can remain profitable even when energy use is low, such as in summer. As such, you might discover that you’ll end up paying lower costs if you pay for gas, electricity and water separately.

 

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