October 10, 2019 7:27 am Written by

Are There Ways to Get Cheap Rent?

How To Reduce Your Rent or Get Free Rent.

If you sit down and review your budget, you will notice one of the largest expenses you have each month is your rent; if you are buying a property, your mortgage.

Our rent can be 25% to as high as 40% or more of our wages each month.

However, in trying to reduce this expense, for some it may not be possible. The area they chose or need to live in may be a costly one.

The first option that may come to someone’s mind when looking to reduce their accommodation costs is to share a place to live. Have room mates and live in a shared house.

This is a good option for some, but you need to be willing to share space, possibly with strangers, and also there are other issues that may arise, such as privacy, cleaning, noise, etc.

So while sharing a place to live is an option, it is not an option for everyone.

Move: It sounds simple, because on the surface it is, but move to a cheaper area to live. Housing costs in some cities is expensive, and moving a few miles outside the city can be cheaper.

You need to take into account any commuting costs, and also research the various conveyances and modes of transportation to get you to and from work and around, and add these to see if the move is substantially saving you money.

If you want to take moving one step further, you can move across the country to a place where the rents are much less. Historically rents are cheaper in the North, however, wages are lower as well.

House-Sitting

This is not for everyone, and does not offer long-term stability in a residence, but it will get you around, and also you can earn money.

It seems to suit some pensioners who like to travel and earn money at the same time.

Managing Director of Homesitters LTD, Alan Irvine says, Home and pet-sitting is a role that is increasingly popular with older people looking to continue working flexibly during their retirement.”

Most retired people are on a fixed budget and many look to supplement their retirement income.”

Home and pet-sitting is a great option that many won’t have thought of, which is flexible and offers a modest remuneration.”

Our clients truly value the skills, reliability and experience that retired people have.”

While it sounds easy, there some responsibilities, especially if pets are involved. And you need to be in the property almost all day.

Gocompare’sRyan Fulthorpe states, “It’s important to agree all responsibilities you will be expected to undertake.”

This includes financial responsibilities, bills, deliveries and whether you’ll have access to a vehicle, WiFi and landline.”

If you’re expected to look after any pets, it’s crucial you check with the owner they have a suitable level of pet insurance in place, should there be any unforeseen emergency veterinary care required.!

Property Guardians

All across the country there are older graded buildings, old churches, schools, many properties that are in decent shape, and/or for some reason are not to be demolished, or they hold some value.

Having someone live in these properties is a way to ward off squatters, and also vandalism.

The people who live in these types of properties are called Property Guardians.

You are not expected to maintain the property, just live there, and for doing so, you get cheap rent. In some instances, very cheap rent.

There are positives to being a property guardian, and of course the biggest is cheap rent. There also is the unique places you may be able to live in.

The only real downside is stability, you may not have a long tenancy agreement, or any tenancy agreement.

Another downside can be the condition of the property, is it in liveable condition as it stands, or does it need to be cleaned and some work done.

And lastly, property guardians are not considered tenants, but are considered licensees. This means as a guardian you do not have the same rights as a tenant would.

So just a couple of unique ways to get cheap rent.

You don’t have to be a homeowner to apply for a loan. We compare a range of tenant loans with a guarantor. Click to compare tenant guarantor loans and find out more.

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