by Rajiv Singh, 15-09-2022

5 Ways to Save on Your Monthly Rent Costs For Your Rented Home

As the dawn of a new month nears, all home renters begin to worry about paying their monthly rental costs. The steep prices of Britain’s real estate market leave no other option for many but to rent a home. Hence, a considerable chunk of the overall population lives in rented properties in the UK. As per the English Housing Survey for 2020, conducted by the Ministry of Housing Communities & Local Government, about 19 percent of the English households reside in a private rental property. Also, the rental costs in most British territories are not nominal either. Many wonder why is renting an expensive proposition? Many factors contribute to making your monthly rent cost relatively high. However, there do exist some tips and tricks that can optimise your rental outflows. RentOnCloud professionals recommend the following tactics for those who want to save some bucks on their monthly rent cost.

Pick up an ideal location

Location is an instrumental factor in determining the rental budget for any house. You cannot expect to save much on rent if your rental home is in a plush neighbourhood. Furthermore, you cannot just become a miser and take up a house on rent in the middle of nowhere. The key is to balance the location and cost of availing of amenities like transportation. You need to weigh the cost saved on rent against the cost of commuting and getting other utilities. A bargain rental home will not be worth it if you end up sparing much more on going to work and getting other essentials. A place with decent connectivity to public transport options can prove much more cost-effective in the long run.

Prefer an extended lease arrangement

Most landlords favour tenants who are ready to commit to leasing their property for a reasonably long duration. Nobody wants to undergo the hassle of searching for a renter, doing background checks, completing legal formalities for the agreement, and prepping the home for the new tenant over and over again. Landlords are much more willing to negotiate for a lower monthly rental cost if they have the assurance of a lengthy lease term. A two-year lease is usually considered ideal for most rental properties.

Share your rental space

The more, the merrier. We cannot deny this adage when it comes to sharing our monthly rental costs. When renting a home, it is best to do it with one or more roommates, especially if you plan to stay alone. It is a great way to downsize not just your rental costs but also your other utility expenditures. You can even look for a bigger space in a better neighbourhood when you share the rental property with roommates as then the total cost gets divided, and your personal share shall be much less.

Opt for unfurnished or partly furnished rental homes

The rent of fully-furnished properties is usually much steeper than other unfurnished or sparsely furnished properties. Rent a home that just has some basic furniture and appliances if you want actually to subside your monthly rental cost. You have the option to get some old furniture items from your family home or even rent some essential furnishing pieces. All and all, an unfurnished or partly furnished space will have notably lesser rental cost.

Keep a tab on your utilities

UK households spend over 11 per cent of their monthly income on utilities, suggests a recent report. Thus, it is evident that if we try to curb our utility costs holistically, we can save a lot. You can slash down your overall living expenses if you have a handle on how much you consume. Going for a utilities-included lease arrangement is also not recommended when you rent a home. It can contribute to a higher monthly rental cost. You can better monitor your usage and reduce the utilities spending if you have things under your own control. We also advise you to check all the meter readings beforehand while initiating your stay in a new rental property.

Say goodbye to all the fuss related to renting a home with RentOnCloud!

RentOnCloud is a one-of-its-kind cloud-based rental property management platform that assists both tenants and landlords in reducing their troubles related to renting properties. We help folks looking for suitable rental options to screen the best buy-to-let properties and find the upbeat deals with an intelligent viewing and booking system. Our team also offers facilities like creating online agreements and generating accounting or tax reports. Contact us now to learn more about our incredible offerings!

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About Rajiv Singh

A Chartered Accountant in UK with 15+ years of experience in FinTech Consulting, Accounting & International Taxation. I enjoy being a Social, Foodie and Father of two young children, reachable at

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