To find cheap apartments for rent, search online on sites such as Craigslist.org for local properties available for rent. Narrow the list to a few suitable apartments, and conduct price comparisons to find the best deal, advises MarketWatch.
Factor in the time of year when conducting a property search. During summer months, more people are looking for rental apartments, meaning the prices are likely to be high and the chances of negotiating for lower rent are slim. However, during winter, fewer people are out searching for apartments, which presents an opportunity to haggle for cheap rent, says Forbes.
Consider single-family owners who may opt to rent out an apartment when they face difficulties in selling the property. The price of such a rental tends to be lower because it may offer fewer amenities and the owner may prefer earning less from the apartment than having it vacant, reports MarketWatch. Since the landlord of such an apartment may not know the market rate, he is likely to price it below market value.
For-sale listings, either in local dailies or online, provide an opportunity for a bargain hunter. Approach a seller with an apartment that has been on the market for a long time, and discuss the option of renting the property, which may be a way to snag a lower-priced deal, says MarketWatch.