FOLLOW BY EMAIL & RECEIVE AUTOMATIC UPDATES

Monday, 21 December 2015

THREE WAYS OF REDUCING YOUR RENT OBLIGATIONS



 Go and stay at a family house.
As the economic environment gets worse in Zimbabwe many people are losing their jobs. Many of these people’s training was through an education system which focused them on  getting a good job. So many of them also find it very difficult to begin a new life as entrepreneurs. Despite all this the rent and bills at home have to be paid. However, in my experience as a property consultant I have discovered that one of the best solutions to this problem under these circumstances is for one to return and stay at the family home. Staying at the family home has great advantages than many other options. One of them is that you are under no pressure from rent or contractual obligations because your stay is more of a concessionary arrangement .

  





Rent in less expensive suburbs.
Another option for reducing your rent obligations is to rent in less expensive suburbs. If you are now struggling to regularly pay rent its also a sign that you can no longer sustain the payment of rent required in the area you are lodging. I know there is a lot of emotional attachment to certain areas especially if you stayed for years but unfortunately your pocket does the decision making when it comes to choices of places to rent. You have to sacrifice and let it go. With time the fond memories will fade away!  

 When you can no longer afford vacate premises before more arrears accumulate.
If the source of income that used to provide your rent is no longer there you should move out of the premises as soon as possible. This helps avoid an increased accumulation of arrears and penalties. The land lord has rights to claim these through the Sheriff Of Court.  No miracles will happen so that you will be able to afford again your rent in the near future. Leave in the reality of your situation. Assess if there are less expensive suburbs or a family home you can move into.
Many people hold on to properties they can no longer afford to pay rent for and I do not know why.  This however, is ill advised because it leads to unnecessary loss of time and monetary resources at the civil courts.

No comments:

Post a Comment