• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Home
  • About
  • Contribute
  • Contact
  • Resources
  • Forex Trade Plan

Finance Girl

Digestible finance news for all




  • Business
    • Employment
  • Student
  • Shopping
    • Motoring
  • Money Advice
  • Finance
    • Making Money
    • Saving Money
    • Debt
    • Investing
    • Alternative
  • Travelling
  • Retirement
  • Home
  • Travel
  • Property
You are here: Home / Money Advice / 6 Ways to Save Money as A Tenant

6 Ways to Save Money as A Tenant

October 8, 2019 by Julie Leave a Comment

If you’re renting your accommodation, then spending might be near the top of your list of concerns. This is especially so if you’re looking to save for a place of your own. Let’s take a look at how to keep your finances in good order as a tenant.

Subletting

If you have a roommate, then your monthly expenditure on rent can be effectively slashed in half. This means that you’ll have thousands of pounds in your pocket every year. Your tenancy agreement might impose strict rules against subletting, so talk to your landlord about getting someone else in on the action.

Take Stock of Your Spending

Monthly outgoings rarely take the form of a single payment. If you’ve signed up for a range of newspaper subscriptions, Patreons and gym memberships, then you might find that you’re spending hundreds of pounds every month on services that you barely use. Cut out this stuff and keep the cash instead.

Offer to repair certain faults yourself

If the property you’re renting develops a small fault, then you might attempt to fix the problem yourself, in exchange for a reduction in rent from your landlord. Patching up paintwork or adding a few extra nails might not be a huge job, but it might spell added convenience for your landlord that might make things worthwhile for them.

Negotiate on Rent

If you’re prepared to haggle on your rent, then you might be able to negotiate a monthly discount. If you’ve been a reliable tenant for years, then your landlord might value your custom enough to entertain a new rental fee – after all, getting someone new in will introduce costs that they might not want to contend with.

Similarly, if you’re moving into a property for the first time, then it’s worth negotiating from the get-go.

Pay for Utilities Separately

When you pay your landlord a single all-inclusive figure, including heating and electricity, then you’ll be paying the same amount, regardless of how much you use. Landlords may include a ‘fair usage’ stipulation to protect them against tenants who want to run the heating constantly and operate energy-intensive appliances throughout the day. And they’ll also allow themselves some significant leeway so that they can remain profitable even when energy use is lower.

As such, you might find that you’ll end up paying a lot less if you pay for gas, electricity and water separately.

Insure Yourself

There are some situations where you might find yourself exposed to considerable risk. The building you’re living in might become suddenly unsafe thanks to a pest infestation, or structural deficiency. While many of these are unlikely, they’re not impossible. Fortunately, there’s a way of protecting yourself against disaster: tenants liability insurance is a form of insurance designed with tenants in mind: it will cover accidental damage suffered by the landlord’s property (including furnishings). 

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Filed Under: Money Advice, Saving Money

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CommentLuv badgeShow more posts

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Julie Cheung / Finance Girl

Manchester blogger with an interest in personal finance, investing and local businesses.

Invest in Gold and Silver

Read my post: Should You Invest In Gold?

☆ Top Finance Book Picks ☆

   

☆ Get Cashback Shopping Online ☆

With over 3,800 retailers including M&S, Waitrose, Argos, Expedia, Amazon and eBay!

Read how I made £521 on Topcashback here.

Recent Posts

  • How Customers are Keeping Businesses Alive in the UK
  • Dogs are Helping Drive the Staycation Trend
  • How Can Self Storage Help Your Business in 2021?
  • Saving More While Living In The UK
  • Have You Thought About Becoming a Dentist?
  • How to Find a Mortgage Broker in Perth
  • How to Become a Taxi Driver in the UK
  • New vs Older Property: Which to Buy?
  • Best Ways To Save Money & Keep your tyres in shape
  • A Beginner’s Guide to Investing on a Budget
  • The Path To Getting Your First Mortgage
  • Top UK Share Dealing Accounts
  • How To Increase Your Home Security On A Budget
  • The best systems for your service-based business
  • Increasing Your Chances of Being Accepted For a Mortgage
  • Are Payday Loans Online Secure?
Copyright © 2018 Julie Cheung