Lets face it: Rent is out of control.
There is some good news, though.
Still, those figures are astronomical.
Check out these nine tips toscore an apartmentin a hot real estate market. Tip No. 1 — Clean up your credit.
Here are the nuts and bolts of doing just that, even in these dizzying times.
Is Your Paycheck Not Going As Far As It Used To?
We get it.Everythingis more expensive than it used to be, but your paycheck hasnt kept up.
When money is tight,these resourceswill help nearly everyone.
Here are two methods for discovering whether its a good time to request a rent reduction or not.
Talk to Your Renter Friends
Talking about money is taboo in some friend groups, but it shouldnt be.
Housing is the perfect example here, because a lot of valuable housing information gets exchanged in casual conversations.
For example, imagine you pay $3,850 a month for a 1-bedroom apartment in New York City.
Having this information at hand can be incredibly powerful when it comes time for your negotiation.
Not all complexes have 24/7 staff.
As in allnegotiations, the key is to offer something thats low value to you (eg.
your parking space) but high value to them.
Can You Survive 10 Days of Budgeting?
If you oughta wrangle your budget, it may be time to consider a savings challenge.
The best time to negotiate a lower rent is one to two months before the end of your lease.
Why one to two months out?
Capitalizing on the seasonality of the real estate market will give you another leg up in your negotiations.
How can you capitalize on this?
I used this strategy after construction of a new building started across the street, Burstein said.
Need Some Quick Cash?
If youre looking to boost your income this month, weve got just the thing for you.
As the saying goes, never let a good crisis go to waste.
Most landlords are sensible, risk-averse investors willing to be flexible with tenants who make reasonable requests.
Yet most of us dont even make the request in the first place.
The worst that can happen is your landlord says no, and your rent stays the same.
Sources:
Contributor Jordan Bishop writes on personal finance and hospitality topics.
He is the founder ofYore Oyster, a website specializing in financial products reviews.
