How to reduce rent by 70% and turn your rental apartment into an investment

OH, THE RENT…

If you live in New York, you will most likely agree that living costs here are the finacial vortex that is systematically eating up bigger part of your hard earned cash. How do you feel writing that check for your landlord each month? How do you see yourself in a year from now? Probably still the same-writing the checks and letting your landlord to be the one who benefits the most from you working so hard. If you think this is not fair, the time has come for things to change.

WHAT IF YOU COULD SCRATCH YOUR RENT OFF YOUR MONTHLY EXPENSE LIST, HOW WOULD YOU FEEL THEN?

roommates help pay rent

I’m sure you would feel amazing but the thing is, It sounds easy, but it’s not so easy to do. Because in order to reduce rent rent and save your money you’ll need… Yes, a roommate! There is a possibility to find a roommate for an apartment of any (reasonable) size, if you are brave enough you can even find a person to share a room with, but hopefully, you won’t have to go that far. There is one thing to do before you start looking for a roommate: you have to negotiate down your existing rent, because I bet, no matter what it is, it is still unreasonably high.

MY LANDLORD WOULD NEVER DO THIS.

That’s exactly what I said to myself when I first thought of talking to my landlord about lowering my rent a few months ago. I talked to her anyway, because I felt that this is just wrong for me to pay that much money all by myself, and, to my surprise, my landlord had readily agreed to take $350 off my monthly payments, so I ended up paying $1200 for my pre-war one bedroom in the heart of Astoria, Queens. Sweet, right? It felt almost like she was expecting this conversation and had prepared for it…  I’ve got a roommate few month later and lowered that amount by half.

IT IS NOT EASY AND NOT CHEAP FOR A LANDLORD TO GET A NEW TENANT IN

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So, unless you are a major non-paying trouble causing pain in the arse of a  tenant, your landlord would most likely be willing to reduce your rent to keep you, than look for a new person to sign the lease with. There are, however, some things that should be considered when negotiating down your rent: a) Picking the right time to aproach your landlord. It is much easier to rent out an apartment in August  then it is in February, in NYC, so talking to your landlord right after the New Year (when it’s  time to pay the property taxes  ) might affect his/her decision so that it’s resolved in your favor. b)Making sure that you are the tenant worth fighting for. It is not so hard, really, just paying your rent on time and not causing any problems will do the trick. c)Finding out what’s wrong with the apartment and using those things to convince your landlord to lower down your rent.  Oh, and my personal advice -come up with the amount you would be fairly comfortable paying on your own each month, before you even start this conversation with your landlord.

NOW LET’S FIND A CORNER IN YOUR PLACE TO SQUEEZE IN YOUR NEW ROOMMATE

So that you could reduce your payments even more and be able to finally not to care about coming up with next month’s rent (you don’t even realize what great psychological relief it is going to be for you!) The smaller your space is, the more creative you should become, because the trick is not only find enough room to place a twin size bed, but to do it so, that you both have the maximum of comfortable space left. Sounds tricky indeed, huh? Well, consider it the part of NYC street smart education program, pal;) Your goal here is to get the top dollar renting your space out, and also keep your sanity while living with the roommate. This task does require a lot of planning and brainstorming. But once you have moved your new roommate in, you can finally take a deep breath of joy and relaxation and, at last, concentrate on yourself, your desires and your future.

THAT IS WHY I CONSIDER GETTING A ROOMMATE AN INVESTMENT

roommates help to achieve dream

By cutting down on rent you are increasing your income and can now pursue your real dreams! What is it you wanted to do for so long but still didn’t do by sme reason? Did you want to go back to school to major at fine arts? Or maybe you have been dreaming about a scuba diving trip to Great Barrier Reef? Or maybe you can finally start saving for a down payment for that multifamily house in Buscwick? The choice is yours and your time has finally come!!

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