The price of rent is rising and it’s getting harder to find an affordable place. Even if you earn a decent salary, rent can take a large chunk of it. Nonetheless, there are other ways in which finding a place to rent is easier than ever.
This is all down to technology. Finding the information you need takes no time. Not long ago, many renters had no idea that they needed insurance. Now you can find all the information you need about how to buy affordable renters insurance online. You can also learn your rights as a renter and what you can demand from your landlord.
But the benefits of tech when looking for a place to rent go beyond the availability of information. Here are 3 ways tech has made it easy to find a place to rent.
1. Use budgeting apps to set a target price
How much can you afford to spend on rent? If you’re like many other people looking to rent, you may have no accurate idea. You have a vague price range, but ultimately do not have a clear upper cap.
Nowadays, you can use a budgeting app to come to a clear conclusion about what you can afford. Budgeting apps are not just aspirational. Rather, they assess data from your bank account and tell you exactly how much you spend on different categories every month. They use AI to find duplicate payments, give you tips on how to save, and show you what you can invest.
With the help of a budgeting app, you can see exactly how much of your income you have available to spend on rent. You can then look for apartments that fall in your price range without worrying about what you can afford.
You can also use this data to determine whether it might be better to buy a home. Since you now have accurate figures, you can calculate exactly how big a mortgage you could potentially afford.
2. Compare homes with virtual tours
If you’ve ever gone looking for a place to stay with a limited budget, you know that the excitement wears off quickly. You see place after place that doesn’t suit your needs, and you start to realize you’ll have to compromise. At the end of the day you are exhausted, and struggle to remember the details of the different apartments.
However, tech has provided new ways to see a place. With virtual video tours, you can go through the apartment from the comfort of your laptop. You can compare different apartments in no time, rather than having to spend hours going from one to another.
Of course, you can’t yet get a clear idea of what an apartment is like from a virtual tour, but you can use this step to filter out places you now know are not suitable. Ultimately, when you go to see apartments in person, you only go to those you might actually rent.
There will always be those who just enjoy taking virtual tours. If it scratches a certain itch, you can get a proper look at homes far beyond your price range. Just make sure not to get too connected!
3/ Keep track of the average rent
In the past, it was very difficult to determine whether you’d gotten a good price on a place. The price of rent is never fixed, and value in this context is subjective. However, today you can find the average rent in just about every part of the US by using sites that collect data daily. Because these sites are constantly updated with any data that comes in, they stay relevant.
Knowing what most people are paying for rent does not guarantee you the same price. Your future landlord may claim that there are reasons their place costs more. But it does give you room to negotiate. It is much more difficult to try and negotiate a good price when you don’t have any up-to-date information to use as leverage.
Renting in 2022 is more expensive than ever before. Finding the right place at the right price is not easy. But tech has made a difference. Nowadays, instead of going from one place to another with no real idea of what to look for, you can skip right to the apartments most suitable for you.