According to the statistics, NYC citizens spends over 30% of their income on rent, and that’s quite a lot. With the escalating rental costs and demand in the city, a renter is likely to face issues managing their monthly rent payments.

But managing your apartment rent is not impossible. Several techniques and financial tips can help residents cut down their monthly rental costs.

In this blog, the Brick & Galo Realty team has put together some bestpractices that can help new and experienced renters optimize their monthly rent payments. Follow these tips to become a pro renter in NYC.

Put the Rent Money Aside Before Anything Else

Spending your monthly income without prioritizing your expenses is a big mistake. Renters must always allocate the rent money before paying off any other expenses. A good rule of thumb is to always pay your rent first. Or, if you have a preset date for rent payments, we recommend you transfer the rent money into another account.

No, we’re not saying that your bills aren’t important, but paying apartment rent should be your top priority in a fast-paced city like NY.

Invest Time in Budgeting

Food, clothing, entertainment, studies, and transport are some of the other main expenses renters need to allocate money for. This is when you can leverage some research. Take your time to study the ins and outs of personal finance and budgeting. Believe us; it can take off a whole lot of burden every month.

With a well-curated budgeting plan, you can save yourself from over or underspending your income, and it will also allow you to gain better control over rent payments.

Be Strategic About Your Housing

If you’re following all kinds of financial planning and budgeting tips and still struggling to pay monthly apartment rent, you might be living in the wrong housing unit. New York can be an expensive city to live in, especially if you don’t choose the right NYC apartment rental.

For example, there’s no need to rent a two-bed apartment in NYC if it’s just you and your little furry friend. Similarly, families should assess their needs before renting an apartment to not throw their budget under the bus.

Check out Brick &Galo Realty’s wide array of NYC apartment rentals to find a housing unit that fits your budget and personal requirements.

From spotting the right listing to scheduling a viewing and signing the lease, our team can handle it all. Brick & Galo Realty’s expert team can help you in finding safe and well-maintained apartment rentals in Brooklyn and Manhattan.