Tuesday, October 6, 2009

How to lower your rent now

SHOOT: Some interesting ideas here. Click on the link to read all of them. Kiyosaki doesn't mention moving to a cheaper area, which is probably the most obvious, but also the least convenient.
I have a bone to pick with Kiyosaki. He grew rich advising people to take oput loans [go into debt] to buy homes, and saw property as the holy grail of wealth. He tended to see it as an infallible strategy. It isn't. But that mindset has shown how fallible the entire world's financial system has become.
clipped from www.richerdaddy.com

When it comes to lowering their monthly housing payments in the down economy, renters have homeowners beat.

Refinancing a mortgage requires plenty of paperwork, a stellar credit score and weeks of effort. But property owners faced with profit-sucking vacancies and cash-strapped tenants are increasingly willing to negotiate. According to a recent survey from rental property marketplace Rent.com, 68% of landlords reported lowering rents or giving one or more months free to retain tenants.

Try these five strategies to cut your bill:

Research the market

Cohen’s daughter Abigail tried that tip and found that others in her neighborhood on New York’s Upper West Side were paying an average 20% less than she was for a studio apartment. She brought those figures to her landlord and ended up with a new lease this summer for $1,550 instead of $1,850 — an 18% discount.

Take on a roommate

Obviously, the more people sharing your space the less rent you’ll pay.

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