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December 21, 2018

Keeping it Affordable When Renting Your First Place

Renters insuranceEvery young person knows that making ends meet might be tight when they start out. If you’re renting a property, you’ll have to pay your rent on-time, and in-full. That means making sure you have enough left over to still live a secure lifestyle. Still, saving money doesn’t have to be hard, even if you’re on entry-level salaries. Let’s talk about some of the ways you can put money away, practically, so that the rent doesn’t bite you too hard.

1. Conserve water and utilities

Sometimes water, electric and heating bills will come included in your standardized rent. However, in other cases, you will have to pay these costs separately. That’s an added expense. How can you keep these bills manageable?

  • Ration your water. Only run full dishwashers and laundry machines. Turn off the water while brushing your teeth or washing your face. Try showers instead of baths, and keeps these within time limits. Inspect the home for leaks, to reduce waste.
  • Lower your electricity usage. Turn off the lights when you leave the room. Don’t let ovens or other appliances run unless you are using them. Set timers to turn off appliances automatically.
  • Reduce strain on heating and cooling systems. Most people keep their thermostats a little cooler in the winter and a little warmer in the summer. That way, the HVAC system won’t have to work as hard, and thus won’t use as much electricity.
  • Often, you can also invest in green appliances to better track your utility usage.

2. Avoid unnecessary fees

Many landlords charge renters who break the confines of their leases. For example, if you allow another person, or a pet, to live in the house without letting the landlord know, they might have a right to fine you. It’s always best to let them know about changes in occupancy. Any changes in rent or fees might prove minimal compared to potential penalties. Review your lease to see when the landlord can levy fees for misconduct.

3. Research favorable renters insurance rates

Most renters must carry rental insurance. It will usually contain liability coverage in case you harm others or their property. It also often comes with possessions coverage for your belongings.

Research the typical coverage carried by renters in your area. Then, ask your insurance agent to help you find an affordable policy in these parameters. They can help appraise the value of your belongings, and choose liability limits. That way, you probably won’t wind up paying for coverage you don’t need. Your agent can also help you find policy discounts and policy savings.

Never neglect to pay all your bills, including rent and insurance premiums, on time, every time. The better you manage your finances, the better your financial security. Contact us for a Dublin renters insurance quote at 925-737-1560.

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