- Be a professional house sitter
Yep, this really is a thing! If you’re keen on living alone but don’t want to have to cough up all the cash for the rent, why not consider house sitting?
- There are plenty of reputable house sitting websites you can register with. Check out sites like Aussie House Sitters or Mind a Home.
- Once you’ve signed up, you can house-hop and not have to pay rent for months at a time!
- You might also have to do some pet sitting and perhaps some household maintenance – but it’s an excellent way to live rent-free and save loads of cash.
- House sitting is also a fun and free way to experience living in a variety of different places.
- Rent a studio
If you’re living on your own, you don’t need a load of space. Why not consider down-sizing both your living space and rent bill, and renting a studio instead?
- Studio apartments generally have a kitchen, lounge room and bedroom in a single room.
- Whilst some studios may suit a couple, they’re generally perfectly designed for single people.
- The great thing about studios is that they’re a lot cheaper to rent than a one bedroom apartment. When it’s just you, you often don’t need separate bedroom and living rooms. It’s a bit like living in a hotel, and being on holiday all the time!
- Studios are often located in central areas which means you get to live in a trendy location without paying the hefty rent that usually goes along with it.
- Commit to a longer lease
When trying to secure a perfect new home, a lot of people don’t realise how much you can negotiate with the Property Manager.
- Found the perfect place, one you can see yourself happily living in for quite a while? Why not offer to sign a longer lease – say 2 years – in return for a slight reduction in the rent?
- This is a win-win for you and the landlord – you save cash on the rent, and the landlord has the security a long-term tenant. They’ll likely be tempted to knock $10 a week off the rent for that peace of mind!
- Wait it out
Depending on where you live, there’s different times of year when rents tend to increase and a good place becomes harder to find – and trickier to secure – due to increased demand.
- For example, in areas around universities the beginning of the year – from January through to March – is a hectic time in the rental market as students starting uni relocate.
- If you can wait a while, you’ll have much more to choose from and save yourself some cash on the rent if you pick a quieter time of the year to look for your new home.
- This will give you a lot more bargaining power, as you won’t be competing against as many other potential tenants.
- Live further out
Sure, it’s fun to be in the middle of the action, but it comes at a price – higher rent!
- Consider your lifestyle, travel habits and social life, and try to choose a cost effective suburb that works for all aspects of your life.
- How close to the city do you really need to live? Generally speaking, the further away from the city centre you get, the cheaper the rent will be – you could save yourself a small fortune by moving to another part of town.
- Many areas are transforming fast nowadays, with formerly undesirable areas becoming hipster havens full of funky studios, cafes and fun, complete with affordable rent.
- You could be surprised to find great value and a fun vibe in suburbs you hadn’t previously considered.
- Take advantage of free building perks
Looking at apartment buildings? Don’t forget to factor in all the features and opportunities they might offer as potential money savers.
- If a car space is included with a home, you could be saving cash on parking permits and fees.
- A place that’s located close to a discount supermarket could save you heaps on your weekly grocery bill.
- You could save cash on a gym membership by finding a studio or apartment that has a gym in the building. Not only will you save cash, you’re likely to get fitter and use it more if it’s right where you live!
- Save money on venue hire and expensive bar bills by scoring a place in a building with a rooftop terrace or party area.
Do you really need to live in a fancy place with all the modern trimmings? You could save heaps on your weekly rent by forgoing a few of the luxuries that come with renting a modern home.
- If you can live without mod cons like a dishwasher and modern bathroom, older places are not only usually much cheaper, they can be quite charming!
- Vintage is all the rage anyhow! By opting for a place with a retro kitchen and bathroom, or without features such as built in wardrobes, you could save a small fortune in rent.
For fast flexible rental bonds contact your local City Finance office today.