How to save money on renting an apartment in the USA?

How to save money on renting an apartment in the USA?

Everyone who lives in America is interested in the question: how save on rent? It is known that renting a one-room apartment costs an average of $1,000 to $2,500 per month, a two-room apartment costs $1,300 to $3,500, and a three-room apartment costs $1,800 to $5,000, depending on location and other conditions. It is natural that many are looking for ways to reduce housing costs and there are ways to do this. Read today in USA.ONE magazine:

How to save on renting an apartment in the USA

Advice from those who have moved from place to place more than once.

How to pay less for housing in the States? How to save money on renting an apartment in the USA?

First, consider unfurnished options. It’s easier to get your own and transport it with you than to pay extra for a furnished apartment and put up with someone else’s design. New furniture will cost an additional $500-700, so you can search Craigslist, OfferUp, and local Facebook groups to find items at low prices or even for free.

Secondly, it is much more profitable to rent housing for a long time. The longer you live in an apartment, the more likely you are to negotiate a more loyal price with the owner. he has confidence in you. So, renting an apartment for one and a half to two years will be cheaper than for a year.

Thirdly, you can use the Rent control or Rent stabilized programs. These are two different programs that are used in some US cities and states to regulate the cost of renting a home. They are designed to protect tenants from skyrocketing rents and provide more stable living conditions.

This topic is especially common in New York and concerns houses built before 1947 or between 1947 and 1974. Apartments in them are rented at a fixed or very low cost and are rarely put up for new tenants, but you can find them. The state prohibits rent increases by more than 7% per year, so housing prices will be more or less the same. In Rent stabilized, on average, every year they can increase the rental rate by 1.25%, for 2 years — by 2%. That is, it is also insignificant.

Of the minuses: in such houses there is often no washing machine. And the house itself looks very sad: like an old and terrible building. In addition, not all US cities and states have rent control or rent stabilization programs, and the application of these programs may vary from location to location. In addition, some experts criticize these programs because they can lead to a shortage of affordable housing and a deterioration in the quality of housing due to restrictions in the real estate market.

How to save money on renting an apartment in the USA?

In California, by the way, there is a law that does not allow you to increase the cost of rent by more than 5% per year. So also keep in mind: renting an apartment in California will be much cheaper. For example, in San Diego you can find housing for 2600-2700 dollars a month, subject to rent for two years of life, despite the fact that newcomers will have to pay at least 3300 dollars in the same residential complex for a similar apartment for a short time.

Also in the United States, the practice of renting housing in half with a neighbor is common. So it will cost 2 or even 4 times cheaper. If finances are not tight, you can share a room for two and pay about $650. And if you live in an apartment for four, then the rent will be in the region of $ 450. A good apartment in a modern complex with a jacuzzi and a swimming pool will cost 600-700 dollars per person living in it. To find a roommate, you can use Craigslist, Roomster, Roomi, Rommates, SpareRoom, and Facebook rental communities.

In addition, the less popular the area of ​​the city, the cheaper it will be to rent. In some cases, an agreement with the landlord helps, especially if there is weak demand on the real estate market. During the peak season (usually summer), housing prices rise, so if you can wait, it is better to choose a different time to move in.

Finding a smaller apartment will also help reduce rental costs. Often, cheap housing can be found near transport interchanges, and in the center, on the contrary, it will be more expensive. In general, it will be a good idea to study the local real estate market in order to understand the trends and average prices for renting apartments in the city of your choice. This will help you navigate your search for more affordable housing.

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