How can you easily find cheap apartments for rent?
According to a recent study by Rent, an online apartment guide, 68 percent of property managers in the United States expect rents to increase by an average of 8 percent in 2016. This is not a very desirable condition. if you are looking for cheap apartments to rent. However, there are cheap apartments. All you need is expert advice to find the ideal residence. Here are some great tips to help you find affordable apartments to rent:
#1. Start during the off season
Studies show that most renters tend to sign an apartment lease between April and August. This is why the winter months are the ideal time to search for affordable apartments. Although the number of apartment options is low during these months, there are also fewer people looking to rent. In fact, you may get a better margin to negotiate a lower price due to insufficient renter traffic during the winter.
#two. Don’t exceed your budget
According to industry experts, a reasonable rent amount is one that remains between 20 and 35 percent of the renter’s monthly income. In fact, the US government defines the ideal affordable rent as no more than 30 percent of a renter’s monthly income. Therefore, if you are looking for cheap apartments, avoid an option that is exceeding the budget you can afford. If the place is close to your university or office, you can go a little overboard as you will save a lot on transportation costs.
#3. Apply for Section 8
If you live in the United States and your income is less than 50 percent of the median income in the country, you may qualify for housing assistance programs like Section 8. These federally funded voucher programs help renters in the low-income to rent safely and affordably. apartments However, check with your state housing authorities about Section 8 and similar arrangements in your preferred location.
#4. get a roommate
Getting a roommate is a great way to enjoy all the comforts of your apartment without paying the full charges out of pocket. This is one of the easiest ways to split expenses. However, be sure to check with your property management office if they have any policies on this matter. You should also include your roommate’s name on the lease to avoid any complications.
#5. Use a real estate broker
Local real estate brokers are your best bet, as they have an accurate and complete knowledge of a preferred location. They have a strong network and as a result, it takes much less time to locate the best sources for low cost apartments.
Keep these five tips in mind when searching for affordable apartments, and you’re sure to find plenty of affordable solutions in your favorite neighborhood. Have a blast looking for an apartment!