There are many people that rent a home and they might feel that what they are paying is too much. It can be a big commitment or perhaps even a burden because the rent is so high. There are some things though that you can do, which will reduce the amount of rent that you will have to pay.
Move to a Home with lower Rent
One obvious solution is to move to a home with a lower rent. This is not an easy option of course. Not only will you need to get together the money to pay a deposit on a new home, you will also have to pack up all of your belongings and organise the removal. There may be a reason for you living where you are, perhaps because you are really near to where you work, near to the children’s school or to family. Moving may mean that you have to go further away from these places and this could be too inconvenient for you. It could also mean that you will need to pay extra money out for transport to these places and this could end up costing you more money in the long run. If you are in a place because of its size, then downsizing could be worth thinking about as it will be significantly cheaper. If you are in a place because you like the area then this could make a difference too. You might find that you can still find a place in a reasonable area but save a significant amount of money by moving so it could be worth considering this. It is always worth keeping a check on what is available in your current area though because you could find that something will come up that you could rent. It is a wise idea to keep some savings available so that you can use them for a deposit if a place does come up. You would be really annoyed with yourself if you found an ideal place to move to which was a lower rent but you could not take it on because you did not have the money available to pay the deposit.
Negotiate With your Landlord
It could be worth talking to your landlord if you feel that the rent is too high. There might be something that you could use to justify this. Perhaps you may feel that it is uncompetitive compared with the rents that other people pay in the area or perhaps there is something wrong with the property that you feel means that the rent should be lower. Keep it friendly though as they could serve notice on you and you could be forced to move out if they think that you are causing unnecessary trouble for them or an unnecessary fuss.
Split the Rent with Someone Else
It can be worth considering splitting the rent with someone else. You will have to discuss this with the landlord or letting agent though. Most will be very happy with you having someone else living there that will help with the rent. This will help you with other things as well as you will be able to share the cost of the utilities and council tax too. Obviously, you will only be able to do this if you have the room, but it could be well worth considering. If you have a friend or family member looking for somewhere to rent it could be an ideal opportunity to ask them if they want to move in with you and help you out with the rent.