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Renting

In the current climate, most people are struggling to get on the property ladder and renting is becoming increasingly popular. But how can you find out about paying a lower amount and save money on your biggest monthly outlay? Perhaps you are under the impression that your monthly rent payment is set in stone and the only way to pay less is to move to a cheaper rental. It may surprise you, but this isn’t necessarily the case.

Communicate with your landlord.

If you are struggling financially, speak to your landlord. Landlords don’t want the hassle of looking for new tenants and chasing late payments with the chance of receiving nothing if their tenant can no longer afford their rates.

Your landlord is human and in all likelihood, will understand if you fall on hard times. You could try asking for a decrease in rent in exchange for signing a longer term’s lease – this keeps the landlord happy, as they don’t want the expense of hiring an estate agent to look for a new tenant.

When it comes time to renew your lease, don’t be too quick to agree to any increase in rent. A good, reliable tenant is a godsend to a landlord, and they may be more willing than you think to negotiate. All you need to do is ask – you will be surprised how accommodating landlords can be if they think you are saving them time and hassle.

For those living in a complex and who enjoy DIY type work, there may be the option to assist the property owner in carrying out various tasks around the complex in order for a reduction in rent. As well as simple DIY tasks, you could carry out gardening tasks or clean windows.

Check trends.

Everything is negotiable and it pays to keep up with market trends. Speak to neighbours to find out what they’re paying, and even speak to your local tenants Have facts ready before speaking to your landlord to show that you know your stuff and have done your homework.

Highlight the benefits of having you as a tenant:

• always pay your rent on time

• intend to stay there for a long time

• keep the place clean and tidy, and

• don’t give the landlord any other hassles, etc.

Showing yourself in the best possible light with confidence will go a long way in any negotiations with your landlord.

Get a roommate.

Think of the amount of money you could potentially save if you rented out a spare room. This is the best way to gain a massive rent reduction. Always check with your landlord that this is alright. Most will have no problem with it. Renting to someone you know is always preferred. If you do not have that luxury, then make sure you screen any potential lodgers thoroughly, and ask for references in order to avoid problems later on.

Consider rent subsidy.

You may be entitled to assistance from the government if you are on a low income and should make enquiries through your local housing office. You could be entitled to some form of housing benefit and it won’t hurt to ask.

Most consumers start their home buying process by visiting preexisting houses and evaluating their worth for a potential purchase. However, there is an alternative to this old fashioned way of thinking. What if the buyer could put his or her input into the actual construction of the home, right down to the electrical outlet placement? Enter the house and land package.

A house and land package allows the buyer to purchase the land that the new home will be built upon. Once the home is built, he or she owns both the land and physical structure. There are a number of different benefits that pertain to these packages. Let’s take a look.

Investment opportunity

Since the home has not been built yet, buyers can be vocal about additions and substitutions to the actual construction process. By customizing the home, buyers can begin to advertise the house’s features as a selling point. Large skylights in the living room? The buyer can make sure to have these installed for a potential customer. The fact that the home is brand new is another selling feature; buyers can stress this selling point for a fast sale, as well as the fact that no surprise repairs will be needed after the purchase since every part of the home is unused.

Saving Money Initially

Another benefit to house and land packages is the initial investment amount. Buyers do not purchase the combination of the home and land in the beginning; the house does not yet exist to be an asset for sale. As a result, the buyer simply puts down a deposit for the land only, not the house. This process can save the buyer thousands of dollars in the beginning.

Customizing Your Own Home

Many buyers are extremely picky about their home features; some prefer carpeting, while other prefer hardwood. However, purchasing the house and land package will allow buyers to customize their own home. In fact, they can choose almost any material option within the home since it has not built yet. As a result, the paint color, flooring choice, and even the amount of bedrooms can be personalized for the buyer. The resulting home will be the perfect dream house for the buyer.

In the end, a house and land package is a smart choice for savvy investors and particular homeowners. Buyers should research the seller, or developer, so that the real estate process is smooth; construction of the home should stay within budget, as well as on time. The benefits of these packages will make a happy home for the buyer.

If you’re int he market for beautiful house and land packages in award winning residential estates, see LWP property development Perth. LWP offer house and land packages in a number of popular locations across W.A, both north and south of the river. Visit a display village for yourself and you’ll be impressed.

New York has begun doing what any major city does when it runs out of real estate, but with great success. It has started increasing the rent for up to $5000 for a single bedroom apartment, not a better deal for an average family earning $100K a year. And to date there are no witnesses of slowing in the growth of the rental prices in this city.

The ever-taller high rises, extremely profitable to the owners relative to the forecasted construction costs, provide homes for escalating population. While single family homes that are put up for rent are typically larger, with private yards, the condos are barely 1000 sq. ft. but with views of the city and scenery to die for. Extra features such as gym, playgrounds, club house and concierges provide an interesting alternative to living here.

A two bedroom single family home in the heart of the city can cost around $6000 and as low as $750 in a suburban area outside the city, almost double the cost of what it was two decades ago. The downtown part has a rent of anywhere from $1500 to $2200 for a studio, and $3000 for a 2 bedroom, while upper east side-the affluent area where most skyscrapers are-can go as high as $10,000. Although the outskirts have seen a slight decrease in the influx of people after the recession, the very wealthy area have done very well in maintaining this price over the last ten years.

Reasons for Rent Increases :
There are various theories behind what is really causing the rental prices to increase in New York. And most prices are driven by owners and their agents convincing people to rent while justifying that they are seeing a completely rational price in comparison with the cost of owning a home. One can note that the recent rental boom has not been limited to New York but has been in full swing in other states such as California, Washington and North Carolina. The wealthiest cities and neighborhoods have experienced the greatest home appreciation recently, and these increases have outstripped rental growth in such markets.

Let us look at some of the theories that is driving the rental price here:

Theory 1: Demand and Supply:
People who are on an edge of buying houses in NY are seeing that housing and mortgage markets are imperfect, with real estate agents not representing the buyers interest and appraisers being paid to justify exorbitant prices. They are realizing that homes under this scenario are not worth what they were worth previously. Land is scarcer in the most exclusive communities and people renting would pay large premium for living in such communities.

Theory 2: Renting is Cheaper than Owning:
Renting is one way of showing that home prices cannot escape the fundamental forces that drive them in the long term-income. The housing prices have grown exponentially with respect to renting, and in this massive economy people are unable to pay large portion of their paycheck toward their house. People fearing the real trouble meeting their obligations in the future such as divorce, job loss and medical emergencies, want to post-phone buying and just rent for a while.

Theory 3: Population Growth and Immigration:

Probably the most popular reason as to why rent prices has seen an increase in recent years. Most new immigrants are renters and prefer to rent as long as they could save money to buy a home, resulting in more demand for rental properties.

Theory 4: Escalating Construction Cost:
Even though home builders are on the sell side of the market, they are unable to fair given the high cost of construction, compelling them to increase the price of houses to a level not reachable by an average middle class family- another economic reason that people are renting rather than buying. More so, builders claim that it is the zoning and building restrictions that are the culprit in higher rental prices.

Where The Current Rental Market is Heading:
Even homeowners with less leverage in their homes are now feeling relatively safe renting the houses given the current trend. Considering the shaky economy and no real income growth, people are beginning to dedicate their resources and attention to rent in an attempt to avert a real disaster from buying a house.

David Haynes is a writer who searched for the Lettings Bristol had to offer when choosing his home.