How to Save Money in Your New Apartment

Just moved into a new pad? Congrats! However, moving to a new spot always comes with a bit of financial strain. From setting a budget to finding the perfect neighborhood, everyone can take advantage of these easy tips on a dime while searching for the perfect rental. Below, DFW Properties presents these tips from that might help:

Set limits. Housing costs are dependent on location as rent varies by city and neighborhood. Relocating from the city to a suburb could save you hundreds of dollars in rent. In Chicago, moving from the city to Grundy County saves $458 a month and in Houston moving from the city to Austin County saves $332 a month! Most importantly, set a budget ahead of time. Going over budget by even $100 a month can set you back by $1,200 a year.

Be a savvy commuter. Finding the right location can help cut on costs, especially if it’s closer to work or public transportation. With hundreds of thousands of apartment listings, offers the largest inventory available with the most advanced search tools renters want, including a commute-based search designed to show properties nearby where a renter works and plays most, whether it be by car, bike, public transit or walking.

Go green to save green. While switching light bulbs to LED, washing clothes in cold water and turning off lights when leaving the room help save money, look for energy-saving features around the apartment when touring potential homes. Does the apartment have energy-saving appliances, ceiling fans and a programmable smart thermostat?

Be a neighborhood trendsetter. Consider moving to an up-and-coming neighborhood – such as Fishtown in Philadelphia, Northside Village in Houston, Bushwick in Brooklyn, Eckington in Washington D.C. and Lawrenceville in Pittsburgh – to help lower rent.

Insure and protect. Imagine having to replace clothing, food, personal items, furniture and memorabilia. Disaster is sometimes inevitable and renters insurance will provide protection in the event of emergencies. Renters insurance is affordable and a small price to pay for peace of mind in case of fires, flooding, electrical issues, stolen belongings and more. Keep in mind, however, that every policy is different, so be sure to understand what is and isn’t covered.

Damage control. A security deposit is a fixed amount of money paid to the landlord or property management company to cover any damage caused to the property, which must be returned if no damages occur. Document the apartment upon move-in by taking pictures of each room and notify the landlord of any pre-existing damages to ensure receipt of the security deposit back in full upon move-out. By documenting the apartment’s condition at move-in and keeping the place clean and undamaged, no additional money will be lost throughout the lease.

A new home for the holidays. During the second half of the year, a slow down in apartment demand leaves landlords with less of an ability to push rents toward the end of the year. If possible, wait until Black Friday to sign a lease, when rents average 10 percent lower!

Don’t be late. Be aware of when rent is due and all potential late fees. Mark the day on a calendar, set a reminder and always remember to pay on time. If in a tough bind, be upfront with your landlord about the situation and see if they’ll provide an extension – it never hurts to ask!

Consider a roommate. Having a roommate might not be ideal, but the amount of money saved could make it worthwhile. For example, a two-bedroom apartment in Atlanta averages $1,270, whereas a one-bedroom is $1,093. Sharing a two-bedroom would cost you around $635, saving you almost 42 percent. Splitting other expenses such as cable, utilities, kitchen supplies, decorations and groceries can also help cut back!

Take advantage of amenities. The search process is now significantly easier. simplifies the experience by allowing the selection of desired interior and community amenities, only delivering results based on those selections. Whether you are looking to explore rentals a four-legged friend can call home too, have a dire need for an elevator or simply want fitness center and pool access, the site can narrow down the options without having to sift through the good, the bad and the ugly. 

DFW Property manages properties in the entire Dallas / Fort Worth metroplex. We offer three property management packages: SilverGold, and Platinum. Please click on the links to read more about each one, or check out our comparison page. Give us a call at 682-200-6700 if you have any questions.

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