How to save as a renter - property types

Depending on your lifestyle, there are several different property types that can help reduce your rental cost.

1. If you are single, then renting a small room is all you need and gives you the cheapest savings. You shouldn't need to worry about maintenance, property insurance, house insurance or even paying the hydro bills on time. But you do need to worry about your room mates. They may be too noisy, too quiet, too dirty or just too nosy.

2. If you prefer more luxury or have more people like a mate, then a small apartment. The cheapest would be a basement apartment.This give privacy time for you and your significant other, but it should be more expensive than renting a room.

3. If you have a family, then condo townhouse or a large apartment. You may be expected to pay the hydro bills. You may even be expected to shovel the snow and mow the lawn.You may consider a house, but you will most likely have to mow the lawn, pay hydro bills and worry about fee almost similar to a homeowner.

4. If you are broke and afford anything, ask the government for social assistance. The Canadian government are extremely helpful to those who are about to evicted and can no longer afford to pay for the rent. Do not ask your landlord for free rent. Clearly, their first priority would be to kick you out!

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