How to Save Money While Renting

Saving Money on Rent

While the cost of living and renting in Boston is not nearly as high as it is New York City or San Francisco, let’s face it- for a young adult trying to get by, it can get pretty pricey. Add that with student loans to pay off and low starting salaries, and the costs can seem overwhelming.

Here are some ways you can get creative to cut down on your rental costs and save some money.

Find the Right Agent

Relocating to or within Boston can be a stressful transition as much as it is exciting. Finding the right agent can make your experience go much smoother. At Phoenix Realty, we specialize in Boston relocations; we can recommend moving companies or hotel accommodations, as well as helping you find your Boston area apartment in the neighborhood that’s right for you.

Phoenix Realtors are also experienced negotiators. Sometimes there is a sense of urgency on the landlord’s part to get their space rented as soon as possible.  If this is the case, he or she may be more willing to negotiate on the rent price or even give the first month’s rent free in exchange for a longer lease. Not all landlords are willing to negotiate, but Phoenix Realtors are very experienced in the Greater Boston real estate market and its trends, so we can help you negotiate a fair rent within your budget.


Consider Location

Choosing a location that is close to work, friends, or whatever places you frequent the most often will provide you with a shorter commute and thus will save you money.  Choosing a place that is near public transportation is helpful, too; employing the bus or the T to get around rather than driving will save you money on both gas and parking.

Location is also important because it is typically less expensive to live near colleges and universities.  For example, apartments that are located in Kenmore, Allston, Brighton, and Fenway are near Boston College, Boston University, and Northeastern, and therefore will not cost as much to rent as an apartment Back Bay or Beacon Hill.

Our agents can help answer all your questions about various neighborhoods and access to public transportation.  We’ll make sure we help you find an apartment that fits your lifestyle and needs.


Rent with Friends

This may seem obvious, but having a roommate will certainly help you save.  Sharing the cost of utilities, rent, and other incurred expenses will really make a difference in how much you are spending. If you don’t have a friend you can room with, there are plenty of websites and resources out there that will assist you in finding someone who would be compatible with you.  The more roommates the better!

You and your friends can also rent a ‘Split’ style apartment to save money. Split apartments have a layout in which the living room can be used as an additional bedroom due to extra entrances/ exits in the apartment to give each roommate access to their bedroom without entering their roommate’s private space. So for example, a ½ split apartment would have two bedrooms, but no living room.


Be a Good Tenant

Make sure you maintain a clean and undamaged living space during your time as a renter to ensure you get your deposit back when it’s time to move out. Not getting this back due to careless holes in the wall or a cracked window is money thrown away!

You also want to make sure you can get a good reference from your landlord for when you move to your next apartment. Paying your rent on-time and being courteous to your neighbors will help ensure your relationship with your landlord is a positive one, and having a good reference from your current landlord may help you save money on your rent in the future.

Phoenix Realty is committed to helping you find the perfect apartment that won’t put a hole in your wallet. Use our Rental Search Tool to browse our impressive selection of Boston apartments or contact us to speak to one of our experience agents!

Wednesday, July 7th, 2010 Allston Apartments, Allston MA Apartments, Apartment Rentals, Beacon Hill Apartments, Beacon Hill Real Estate, Boston, Boston Apartments, Boston Apartments for Rent, Boston First-Time Home Buyers, Boston Homes, Boston Real Estate, Boston Rental Property, Brighton Apartments, Brighton MA Apartments, Brighton MA Real Estate, Brighton Real Estate, Fenway Apartments, Renter's Guide, Student Housing

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