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What are some tips for finding cheap rental homes?

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Quick Answer

Finding cheap rental homes involves being persistent in an online search for an ideal property and making price comparisons of similar homes, states MarketWatch. For-sale listings and single-family home listings provide opportunities to find lower-priced deals.

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Full Answer

Rental listings sites such as Rent.com provide an ideal starting point in the search for a cheap rental home by letting individuals compare the rates for available rental units. Through persistent involvement in the search, an individual increases his odds of finding an ideal property. Informing family members or friends about a property search may allow a person to find a great rental home before the owner lists it, according to MarketWatch.

A bargain hunter should consider looking at for-sale listings to identify homes that have been in the market for a long time because their owners are more likely to consider rental offers. Listings of single family homes tend to be underpriced in relation to comparable rentals since they offer fewer amenities and owners may not know the going rates in a given area, says MarketWatch.

By searching comparable rentals in a given location, an individual determines the competitiveness of the rental price relative to the market. A site such as Rentometer.com lets individuals analyze rental rates in a neighborhood to find the best deals. Such information facilitates negotiations with a prospective landlord for lower rental rates, notes MarketWatch.

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