How to pay less Rent

Reducing your rent can be challenging, but its possible with the right strategies. Here are some steps you can take to pay less rent:

• Do you own research: Start by checking similar properties to see if your rent is above the average in your area. You can do this easily on Rightmove, Zoopla or SpareRoom.
• Negotiating a reduction in rent: If you’re paying above the average use it to negotiate a reduction in rent or as a way to deter your landlord from further price increases (as its already over priced). Pick your timing when its up for renewal as they will want to retain good tenants compared with risking it being empty and getting less rent on the open market. Offering a longer lease may be another way of securing a reduced rate as it guarantees then more security.

• Renters unions can help you: check out  Acorn or London Renters Union as they can help you to negotiate or secure rent reductions. They have lots of useful information and will be on your side to help offset overpriced rents.

• Find a housemate: Why not explore getting a housemate to share the costs and it may build some new friendships for you. Check your tenancy agreement allows sharing or sub-letting of the property.
• Rent a room vs flat/house: At home or university, you managed with a room and shared facilities. Often when we start work we want a place all to ourselves but it comes a cost and a hefty one in big cities or good locations. So why not start with a room share and save yourself a lot or money on rent and bills. Check out Spareroom and other sites to get options to explore.

• Move to a more affordable location to save on the biggest cost which is your monthly rent. You may have to commute but the cost will be less so you’re better off each month

• If your rent increase is excessive you may be able to challenge it via a tribunal – its worth exploring this option and you can find out more about First tier tribunals at gov.co.uk