Ah, if rent was only a check for the amount. You’d live the good life in Chicago.
But a renter’s world is all about the marginal expenses, the dollars on the fringe that contribute mightily toward the whole enchilada that is the cost of living.
Food, utilities, furnishings–entertainment!–parking, commuting, et al. You get the picture. It’s crystal clear to first-time Chicago renter Brynne Smith.
The 24-year-old bakery manager and Lake View resident says renting is a far different ballgame from staying in college digs or with good old mom and dad.
“Every paycheck I get, I first and foremost take out my rent so I don’t spend it on other things,” says Smith.
Her parents sent her books on how to budget, but the world of hard knocks taught Smith a lesson renters can relate to: “Don’t try to live beyond your means.” And look for opportunities at every turn to save whenever and wherever you can.
But if you still can’t see the forest for the rent checks, we offer 50 renter-proven ways to shave a few cents here or pocket a few bucks there. We’re talking how to cut corners, trim costs and keep more money in your pocket or purse.
Sure, rent may be a fixed cost, but it’s possible–way possible–to hold the line or pare expenditures at least partially in your control.
Some savings fall into the “if you don’t ask, you don’t get” category, while others are common sense or a mixture of knowing where to find deals or tightening your belt a notch or two.
And you’ll need to stick up for yourself; landlords or apartment managers won’t volunteer information on “flexible” negotiation points. You’ll need to pry it out with direct questions.
Rent
– When it comes to rent, it doesn’t hurt to ask “Is that the best you can do?” Chris Grams, 28, did, and his landlord quickly knocked off $65 per month on a one-bedroom Lincoln Park unit. That’s an annual savings of $745. Grams, who works downtown and recently returned from a six-year stint in Tokyo, had some help however. “The place had a number of openings that had been on the market for a couple of months, and my friends told me it was probably a renter’s market,” Grams says.
– Ask if rent payments can be tied to your payday. Reduce the temptation to spend cash earmarked for rent.
– Look into affordable apartments partially supported by Low Income Housing Tax Credits. Visit Chicago’s Web site at www.cityofchicago.org and click the Your Government and then Housing link.
– Consider an independent search firm. Independents can show multiple units.
– Share the space. One or more roommates spread the costs.
– Use multiple leasing agents to aid your search. In hindsight, Lindsay Kenoe laments not touring with more agents who might have shown comparable units at lesser prices. “We didn’t shop around like we should have. We chose just based on location,” says the 23-year-old Kenoe, who settled on a Lake View unit with her two roommates.
The renter (you) typically does not pay the Realtor finder’s fee.
– You might negotiate rent discounts for a longer term lease, say 18 to 24 months.
– Are there any tasks you can do to lower the rent? Paul Holmquist, a 29-year-old staff member at Columbia College-Chicago, is the defacto building manager at his Albany Park building. “My wife and I noticed the grounds were in disarray,” so Holmquist asked if they could take over those duties. The busy owner quickly agreed and each month lops off 25 percent off the couple’s rent in exchange for changing hallway light bulbs and tending the small lawn and garden.
Utilities
– Are utilities included? Heat and water should be. Kristin DaRosa and her roomie got a nasty surprise this past March on top of their $1,400 Wrigleyville rent: a whopping $300 tab for heat. “We didn’t know the building was so inefficient and we were stunned,” recalls DaRosa, a 23-year-old communications account rep.
– Cellphone or land line? If you’re a big talker, go land line.
– Caulk or weatherstrip windows and exterior doors if you pay utilities.
– Gotta have Internet? A dial-up connection is cheapest, followed by a digital subscriber line (DSL) and high-speed broadband.
– Gotta have Internet II? Why have it at all? Chris Grams dumped Internet access. “I wasn’t using it as much as I thought I would,” says Grams.
– Use free online high-speed access at Chicago libraries.
– Take the seasonal sting out of heating and cooling bills. Visit peoplesenergy.com, click on “Payment Options.” Enroll in the Budget Payment Plan. That’s how DaRosa flattened out her huge utility bills.
– Remind your landlord new federal energy incentives reward installation of energy-efficient windows and appliances.
– Install programmable thermostats.
– A sunny southern exposure can save on lighting and winter heat bills.
– Adjust thermostats down or up while you’re away.
– Turn off lights when not needed.
– Why pump money through an air conditioner if an open window and fan will keep you cool?
– Replace incandescent light bulbs with lower energy fluorescent bulbs.
– Turn down the water heater thermostat a few degrees, if you have access.
– Heavyweight window drapes cut drafts.
Decor
– Paint is the cheapest way to change big wall areas.
– Ask hardware stores to discount–or give away–cans of custom colors rejected by other customers.
– Nothing wrong with “pre-owned” furniture. Eclecticism is in. Scour want ads, second-hand boutiques and flea markets. Kristin Cheeseman stocked her Wrigleyville unit with castoffs from family and friends. “You can always look at www.craigslist.com or talk to friends who have more furniture than they need,” advises the 24-year-old accountant.
– Sheets draped over curtain rods look chic for not a lot of dough.
– Just bought a used couch? Ask the seller if they can deliver it. The Holmquists turned to what Paul Holmquist calls “alley finds.” “We found our entertainment center abandoned in an alley,” says Holmquist. “If it’s clean and there isn’t anything living in it, it could be a keeper.”
– Permanent improvements you make (i.e. paint, carpet) might lower your rent bill.
– Area rugs or carpet? Area rugs, hands down. Plus, you can take ’em with you.
– If you must buy new, scour newspapers for sales or prowl known discounters. Tara Pendell shopped Ikea to outfit her $900 per month Gold Coast studio unit. “It’s the best,” says the 30-year-old account manager.
– Furnished units ultimately save cash. You dodge moving expenses or costs to rent or buy.
Transportation
– Get some exercise. Walk, bike or skate.
– Ditch the car. Rent a car for weekends or out-of-town travel. Steer clear of parking fees and insurance–and thefts.
– Given two equal units, opt for the apartment nearest transportation and groceries. Kristin DaRosa says it was important that “a grocery store and public transportation be within walking distance.”
– If you insist on your own wheels, you first need a city vehicle sticker. Stickers cost $75 to $90 per year. Melissa Stratton of the city clerk’s office has good news for some of you: Sticker cost is prorated for first-time residents or new car owners.
– Run, don’t walk, to buy a Chicago Card from the City Transit Authority at chicago-card.com. Use it like cash on public transportation. Frequent users can save money and charge the card to their credit card. Tara Pendell says it didn’t take long to calculate Chicago Card savings over cab rides. “If I get up late for work, it’s a $15 cab ride versus $1.50 for the train,” she says. Set your alarm.
Food and entertainment
– Do carry out, not delivery to your door. It’s easier to use coupons and spot specials. You also save on tips.
– Prepare communal grocery lists to avoid overlaps or splurging.
– Clip coupons.
– Eat at home.
– Prepare and freeze right-sized portions of entrees or meals.
– Entertain at home. Chicago’s nightlife is alluring but so is the prospect of hosting friends and co-workers on the cheap at your place. Think what a $7 glass of wine at a bistro can buy? BYOB saves money.
– Buy staple foods in bulk. Watch the sales.
– Brown-bag your lunch. With lunches easily pushing $10 to $15, Chris Grams opts to tote his lunch a few days a week.
– Shelve your credit cards. “The only checks I write are for rent and utilities,” says DaRosa. She heeded motherly advice to spend cash for all other expenses. “It’s so much more real when you see the money and it’s too easy to pull the credit card out and just swipe it.” She tucks cash in envelopes marked “food,” “clothes,” “entertainment” and “transportation.”
