Just about all of us look for the best deal out there and will often sacrifice certain comforts in order to have cheaper rent or bills every month. While that is perfectly understandable, looking beyond the price of rent is sometimes necessary. Yes, it is wonderful to have such a small bill every month but what does the cheap price of rent mean? As much as we all would like to think someone just has an amazing deal, there is, 99% of the time, a reason why it is so low.
Some friends of mine were looking to rent an apartment and were excited to find a couple that were very decently priced for the area. The first one they visited was in a rough part of town and the apartment smelled of smoke and it was quite the rundown little place. Obviously, there was no way the property manager was going to get anybody to spend more than what the place was being rented out for so it actually was not a very good deal, it turned out. The second place they went to, they found out, was owned by a landlord that was well-known in town for being a nasty landlord to deal with. In other words, this landlord had gotten a pretty bad name for themselves and were losing business because of it. Not only can a bad landlord leave you with a dirty renting record but they can make life feel very tough. You never realize how much easier a good landlord makes life feel until you have had a terrible one. It can be very stressful dealing with a terrible landlord which makes paying a bit more in rent, very worth it. Hypothetically, if you’re looking at a place to rent that costs $550 a month compared to another place which is $450 a month, start figuring out why there is a $100 difference between the two places. Are the two places in two different parts of town? Is one rougher than the other? Is one more energy efficient than the other? Did one used to have smokers or animals in it prior to you renting? All of these aspects and more can weigh in on the price that the apartment is rented out for. Believe me, no landlord or property manager is going to try and get any less for their property than they know its worth. This is just a good business practice, who can blame them? If I worked hard to be a great landlord and have a clean, safe environment for my tenants to live in, I would rent it at a price its worth. This is my point, if there is a place being rented out for a super cheap price, there has to be a reason why. Now, some people just want a place to live and say that they will not care, whatever the reason is. However, many people, including myself, have come to find out that it is just not worth it. Once you actually get moved in and have to start facing those sacrifices, sometimes on a daily basis, it starts to become overwhelming. Do not make that mistake. If you cannot find an apartment or home to rent that is within your price range, hold off. The patience is well worth the wait. I cannot tell you how many people I have spoken with who jumped the gun in moving without taking the time to research and make sure they were going to be comfortable with where they were going to be living.
Your home is your sanctuary, it is where you relax to get away from everyone at the end of the day. If you have a home that only brings you stress and more work, can you really call it a home? You cannot compare prices of apartments if they are located in different states. Some states have higher costs of living than others. I had some friends who lived in Greenvile SC and decided to move to New York. The cost of living in New York compared to South Carolina is about aprox 40% higher. This means the home they are paying $550 to rent every month in Greenville would be about $950 in New York. This is not a legitimate comparison. South Carolina is more rural than New York and is much smaller, this is why their cost of living is so much more. When finding a place to rent, be aware of average costs of living in the area that you are searching in. This will give you a great starting point plus, it will help you understand if someone is trying to pull one over on you. Many do not know that you can discuss the price with the person in charge of rent. If you have a good reason as to why it should be lowered, some landlords or property managers will actually negotiate with you. Do not be afraid to negotiate. Just because it is a different type of deal than buying a car, this does not mean it is not open for changes. If you are moving out of state, there are some property managers who may play off the fact that you are naïve to the basic pricing in the area. Show them that you know your stuff and do your research well before proceeding. If you know your stuff before contacting places to rent, you will have a much easier time and will know the questions to ask the first time around, making for a smooth renting process.
I will repeat, cheaper is not always better. Do not be afraid to pay a little more for rent and look beyond the renting price to the reasons why the price is the way it is. Further, be confident when renting and do not let the prices fool you. Rent prices are not always set in stone and some landlords, if they think they can, may try and squeeze a bit more out of you. Not all will do this, but as long as you are aware and knowledgeable, you should have nothing to worry about.