Discover if You Are Paying Too Much for Rent

Rent is one of the biggest expenses a person will have to pay. Discovering if you are paying to much for your rental will allow you to decide if moving somewhere cheaper is a better option. One of the worst things a renter may do is compromise personal safety to save on rent. Less expensive rentals are not a bargain if you are putting your personal safety in jeopardy. The following five tips will help determine if your rent is too expensive and discover ways to lower your rent.

Rentometer:

Rentometer is a handy tool that allows anyone to determine if their rental is too high. This website has renters input their address, size and price of the apartment. Results will be returned in a split second offering the user a breakdown of rental prices within a few mile radius. Renters will instantly know if their rent price is too high or comparable to others in the immediate area. Try it out here: http://www.rentometer.com/

Rent to Income Comparison:

Industry guidelines suggest that a person should not be paying more than 25 to 30 percent of their monthly income on rent. Renters who have high personal debt should aim for the lower end of the guidelines. Choosing to find a rental property that is less expensive allows the renter to have more disposable income for other debts and daily life. Utilizing a debt to income ration calculator offers any renter a means of discovering how much they are able to afford for rent without overextending themselves. You can find a free tool here: http://www.debtconsolidationcare.com/calculator/debtincomeratio.html

Transportation Costs:

If a commute is long or transportation costs are high; reconsider the neighborhood. Moving closer to work or to a location where public transit is nearby has the ability to lower expenses. Moving to a more expensive rental with lower transportation costs may still reduce monthly spending. Determine how much you are spending or will be spending on transportation and rent to determine the proper course of action.

Consider Another Neighborhood:

If you feel you are paying to much for rent; consider another neighborhood. Moving into another area or even just a few blocks has the ability to save a tremendous amount on rent payments. Make certain the alternate neighborhood is safe before moving.

Roommate:

Consider having a roommate. A roommate will split costs 50/50. Obtaining a roommate allows for a more expensive apartment due to expenses being shared. Share your apartment with someone you are friends with or find a roommate online. A roommate website finder will enable a person to easily find a roommate who meets certain predetermined criteria. Here is a good option: http://www.easyroommate.com/

Keep in mind that rent is not throwing money away. Rent offers a person a place to live without the expense of a mortgage.

Check out the California Apartment's Blog for additional advice on rent, apartment living tips and apartment community reviews such as these apartments for rent in Smyrna or the Jasmine Woodlands apartments.