Saving Money While Renting
Tips for First-Time Tenants
Renting for the first time can be overwhelming—but it doesn’t have to break the bank. Here are practical, smart, and often-overlooked ways to save money as a first-time tenant.
1. Choose Your Location Wisely
Neighborhoods matter. Rent prices, transportation costs, and convenience vary drastically depending on location.
2. Furnish for Less
Save hundreds by skipping overpriced furniture retailers.
- Look for free or low-cost options on Facebook Marketplace, Craigslist, or student groups.
- Try community “buy nothing” pages for free furnishings.
- Repurpose items—a storage bin can double as a nightstand.
3. Time Your Utility Use
Many utility companies offer off-peak rates.
- Run laundry or dishwasher at night.
- Turn off unused appliances during the day.
- Use natural lighting whenever possible.
4. Use Smart Plugs and LED Bulbs
Smart plugs help manage energy usage more efficiently, and LED bulbs can reduce electricity bills by up to 75%.
| Appliance | Monthly Cost (Traditional) | Monthly Cost (Smart/LED) |
|---|---|---|
| Lighting (6 hours/day) | $8.00 | $2.00 |
| Space Heater | $30.00 | $18.00 |
5. Meal Prep and Bulk Groceries
Eating out adds up fast.
- Buy in bulk with roommates and split the cost.
- Prep meals for the week.
- Use a freezer to extend food shelf life.
6. Renter’s Insurance Discounts
Don’t skip renter’s insurance—many policies offer discounts for:
- Fire alarms or sprinkler systems
- Secure entry buildings
- Bundling with auto insurance
Cost: As low as $5/month with discounts.
7. Rent During Off-Season Months
Demand spikes in August and January. Try renting in:
- October to December
- March to April
Landlords are more flexible and likely to offer discounts or waive fees.
Quick Wins Checklist
Save Smart from Day One
Save on electricity by automating your lighting and unplugging devices when not in use.
Use Tentunit filters to find properties with energy-star appliances or well-insulated windows.
Split rent and utilities by teaming up with budget-conscious peers.
Use local marketplaces (like Facebook Marketplace or Craigslist) for budget-friendly furniture.
Some areas charge less for water and electricity at night or on weekends.
Some insurers offer lower premiums if the building has security systems, fire sprinklers, or if you bundle policies.
Visualize rent, amenities, and cost-of-living comparisons to find affordable locations.
Apps like Mint, YNAB, or Goodbudget help track spending, categorize expenses, and build saving habits.
Meal prep and bulk groceries can save hundreds per month over takeout.
Keep your entertainment expenses in check without sacrificing social life.
How Tentunit Helps
- Split Rent Feature: Share rent and bills directly through the platform.
- Neighborhood Tools: Compare affordability and amenities by zip code.
- Lease Transparency: Know all fees upfront before applying.
For more student budgeting tips, visit Tentunit Help Center or reach out to our peer advisors for support.