How Yo Live Tent Free

14 Proven Ways to Live Completely Rent-Free

It is quite feasible to live without paying rent. How to live in any city without having to pay rent or a mortgage is explained in detail. It’s bad enough that rent consumes the majority of your earnings. And it’s made worse by the fact that rent rates are rising at an alarming rate. Many people, however, are able to live fully rent-free with the help of a few clever techniques. That translates into more money in your pocket and more money available to help you achieve your financial objectives in the future.

Plus, go all the way to the end to find out the top 5 recommendations for staying rent-free.

Have Others Pay Your Rent

Having a roof over your head doesn’t have to be expensive at all. Check out the following list of 14 legitimate methods to live rent-free.

1. Rent Out a Room on Airbnb

Many people are able to live rent-free in their homes, and others are even able to make a profit from their properties. If you have a spare room, you may make some additional money by advertising it on AirBnB or another similar service. This is an excellent method of covering your rent payment. You should try to locate a long-term renter who will cover the costs of the property. However, short-term leases may also be an option, particularly if you reside in a tourist-friendly section of town.

Depending on where you live, there may be limits on how you may share your house.

2. Sublet Your Apartment

If the flat is in your name, you might try to sublease it to earn additional money if you have the time. Rate costs can be mitigated by subletting the property for a higher rent than you are paying each month. Living with roommates may be a smart financial option for everyone concerned, especially when it comes to saving money. The cost of splitting a 3-bedroom apartment or house is typically less expensive than the cost of renting a 1-bedroom apartment or house alone. You may even turn this into an additional source of income by renting out other residences that you are not currently occupying.

Don’t forget to double-check your rental agreement before you sublease a room.

3. Manage a Property

If the flat is in your name, you might try to sublease it to earn more money if you have extra space. Rent costs can be mitigated by subletting the property for a higher rent than you pay each month. It is possible to save money by living with roommates, which is beneficial to all parties concerned. Apartment or house sharing is frequently more cost-effective than renting out a single room in a 1-bedroom apartment alone. By renting out other residences that you are not presently residing in, you may turn this into a side venture.

Don’t forget to double-check your rental agreement before subletting. Depending on the landlord, some may have certain conditions for subletting, while others may not permit it at all.

4. House Hack Your Way to Free Rent

The cost of becoming a homeowner is high. You may generate enough money from house hacking to pay off your mortgage and then some by doing so. Buy a house and live in one portion of it while renting out the rest to pay off your mortgage. This is known as house hacking. The first step is to purchase a residence. According to conventional wisdom, it’s a good idea to set aside 20% of your income for a down payment on a house. However, if you’re thinking about home hacking, a down payment of 5 percent or less is achievable through conventional, FHA, or VA loans.

You’ll be responsible for making sure everyone pays their rent on time and for maintaining your property.

Rent-Free Jobs

If you’re prepared to put in the effort, there are a variety of options for living rent-free. These jobs may be able to assist you in obtaining free housing.

5. Teach English Abroad

If you have a strong desire to travel, you should try teaching overseas. You might earn money by teaching English in several nations across the world. The government of several nations, like China and South Korea, provides free lodging and airfare for English instructors. Despite the fact that many nations need you to locate your own accommodation, the cost of living in many of them is far lower than in the United States. In many nations, you do not need to have a previous educational background in order to get started.

6. Volunteer With Peace Corps or AmeriCorps

Those with a strong desire to give back can consider becoming a volunteer with Peace Corpsor. AmeriCorps may be a highly rewarding experience. Participate in programs such as hunger relief, education support, and disaster response. You will get accommodation and a monthly living stipend in exchange for your service with the Peace Corps. You’ll also receive a lump amount of around $10,000 after two years. Despite the fact that AmeriCorps does not usually provide housing, they do provide a stipend to assist with living expenses.

Traveling and receiving free accommodation and board is the next strategy to try.

7. Become an Au Pair

Au pairs are people who reside with a host family and offer live-in childcare. There are several chances available in countries all around the world. In addition, you will be able to live in your host family’s house without having to pay rent. As a result of the fact that you will be living with a host family in another country, this is an excellent chance for cultural interaction. To work as an au pair in certain countries, you must have a basic understanding of the language. If you’re interested in learning a foreign language, immersing yourself in the culture will help you acquire it far more quickly.

Each nation has its own set of criteria, which may include age restrictions. Au pairs are often between the ages of 17 and 30 years old. Au pairs are often placed with a family for a period of one year or more.

8. Trade Services for Free Rent

Do you have an excellent sense of taste in the kitchen? Can you clean up a house or lend your car to your housemates so that they can get about more easily? If this is the case, you may be able to bargain your way into receiving free rent. This is most effective when done with friends that trust you and vice versa. Instead of paying your housemates in cash, you may provide them services that they would find useful. This might include everything from cooking to taking care of their pets, and it could even include other things.

9. Become a House Sitter

House sitting may be a lucrative side business that allows you to earn additional money while also receiving free lodging for a short period of time. You can provide home sitting services for those who are traveling on vacation or on business trips. You could also be able to locate someone who has a vacation house that they don’t use very frequently. Leaving a house unoccupied for a lengthy period of time might be dangerous. As a house sitter, you have the ability to discourage intruders while also keeping up with the general condition of the residence.

10. Become a Resident Assistant at Your College

Not all college students are required to pay to live in residence halls. Many colleges and universities do not require resident assistants to pay for their housing and board. To me, as a penniless college student, this is a really good bargain. As the Resident Assistant (RA) on your floor, you will assist other students with any difficulties they may be having with residence life. If you already have a hectic schedule, this might not be the best option for you. However, if you can find the time to take on the additional responsibilities, it can significantly lower the financial burden of education.

11. Find a Job That Provides Housing

There are a plethora of career options that provide free room and board in addition to your normal wage, including the following:

• Jobs in the tourist industry that are seasonal, such as park ranger and on-site security.

These positions range from part-time work to full-time professions. Some careers demand more education and training than others, and some jobs require more training than others. Travel nurses, for example, are required to hold a valid RN license at all times. However, it is generally more lucrative than the other vocations on the list. Any of these careers can you an excellent opportunity to travel while also keeping your work life interesting.

Other Rent-Free Options

Not interested in taking on a new job or sharing your house with strangers? Take a look at these fantastic options for low- or no-cost rental housing.

12. Get Free Money From the Government

No want to change your work or live with strangers? No need to worry. Examine the following excellent options for low- or no-cost rental housing.

13. Try OutVanlife

Living in an RV, van, or other vehicle is an excellent option if you’re a free spirit who doesn’t want to be tied down to a certain location. Vanlife has surged in popularity, and it may provide a great deal of freedom for individuals who work from home or from remote locations. Purchase and conversion of a vehicle into a functional dwelling will necessitate the use of the funds.

However, you will not be required to make another rent payment in order to retain a roof over your head after that. This significant shift in way of life may be quite gratifying, but it is not for everyone. Prepare to live much more simply and in a lot smaller place than you are used to.

14. Move in With Your Parents

It is not a source of embarrassment to return home in order to save money. In fact, it’s a fantastic time to reevaluate your financial situation and begin saving more money than you ever have before. Without a doubt, you don’t want to take your parents’ love and support for granted. Make sure you communicate your expectations for your contribution to the household. In exchange for free or inexpensive rent, you may help out with household duties, look after younger siblings, or prepare meals for your family.

How to Choose a Rent-Free Method

Think about the amount of effort and convenience each alternative will need before deciding on a rent-free solution for your situation. For example, if you have to get a new job in order to qualify for free rent, this will require more work than just moving in with your parents. Moving in with your parents, on the other hand, is more convenient. On a scale from 1 to 5, the following 14 rent-free methods rank in order of effectiveness:

Method	Effort	Convenience
Rent Out Room on Airbnb
Sublet Apartment
Manage a Property
House Hack
Teach English Abroad
Volunteer
Au Pair
Trade Services
House Sit
Resident Advisor
Find Job
Vanlife
Move in With Parents
Government Assistance

Top 5 Tips to Live Rent-Free

1. Take the time to go over all of your rental agreements. Twice. In the event that you intend to sublease or offer your property on Airbnb, be certain to pay close attention to the conditions of your rental agreement. Each location is unique, and you don’t want to run the danger of violating your contract or breaching the law. Set aside a portion of your rental revenue to pay your tax obligations. Rental income is treated as taxable income by the IRS. Take the time each month to set aside a percentage of your earnings in order to avoid any unpleasant shocks at tax time. Make certain that you have renters insurance in place. Renters insurance provides protection for not only the flat itself, but also for the goods you keep within the property. Renters insurance will cover the cost of replacing your belongings if they are destroyed. Maintain a suitable range for your rental costs. If you’re subletting or house hacking, make an effort to charge a reasonable rental rate. No one wants to be taken advantage of, especially if they are renting to friends and family members. If background checks are required, they will be performed. If you’re renting to strangers, you might want to consider requesting a background check. This will indicate whether or not your prospective renter has ever been evicted, as well as whether or not they are lying about their identification.

Bottom Line

There are a variety of options for those who want to live rent-free. Some of these strategies will need a significant amount of effort. However, it is worthwhile if it allows you to save more money in the long term and achieve your financial objectives. Which of the following would you do with the additional rent money you’ll save?

• Put it to good use
• Spend the money on a vacation or put it into a savings account.

A personal financial comparison and reviews website, CreditDonkey, employs Donna Tang as its director of purpose and audience development. Write to Donna Tang at [email protected] with your questions or comments. Follow us on Twitter and Facebook for the most up-to-date information.

How To Live Rent Free

This post contains affiliate links, which means that if you click on them, we may make a small commission at no additional cost to you. Saturday night in Chicago, and I’m gathered on the back porch of a three-story walk-up, speaking with a few of pals about the process of finding an apartment. Apartment rates in Chicago have increased by 4.8 percent in the last year, with prices in the most desirable districts increasing by 15 percent year over year. Rents have increased by more than 50% in the last four years.

It’s completely crazy.

“It’s really difficult, guy,” he says, fatigued after spending the entire day looking at flats.

He went on to say that he hadn’t saved any money in the previous two years because “I get two salaries a month – my rent salary and my student loan payday.” He said that he received two paychecks each month due of his student loan payments.

I’m pumped to be able to discuss money with my homies. I couldn’t help myself since I’d had a few glasses of wine. “What if I told you that you could live rent-free for a while?” He is aware that I write about money on my site, yet he still treated me as if I were an idiot.

Can I Really Live Rent Free?

Yes, it is possible to live without paying rent. As a result, it can make a significant impact to your future net worth. So many people overspend on rent – they acquire the “luxury apartment” (I despise that word) in a desirable area and spend 50 percent of their take-home income on a place to call home. Those renting luxury apartments (I despise the term “luxury apartments”) are primarily middle-class people who are still living paycheck to paycheck. Then they claim they don’t have enough money to put aside for the future.

I usually recommend that you begin by attempting to reduce your largest cost first, because the future value of investing that savings might provide can be significant.

Pay yourself first by putting aside at least 20% of your income, and then you can spend the remainder.

Keeping your living expenditures under control is essential if you want to retire early, achieve financial independence, or achieve financial freedom – or whatever term you choose to use – and live comfortably in retirement.

Save Money on Rent

A somewhat different point of view was provided in this prior Millennial Money podcast episode, which discussed saving money on rental housing costs. When I first began my road toward financial freedom in 2010, I made the decision to reduce my rent from $1,500 to $800 per month and put the difference in savings. Every dollar I saved back then, following a basic investing technique, is now worth $3.25, making every dollar I saved worth $3.25 today. The entire amount of money I saved by downsizing my apartment for a year (while still saving money to purchase my first home) is now worth $27,300, which is a return on my investment.

That’s preferable than granite countertops in every way.

What if you were able to live rent-free, or even generate money from your rental property?

5 Ways to Live Rent Free (or actually make money renting!)

1. Pay rent and then sublet for additional income (the Rent Side Hustle)
2. Rent a house and rent out the other rooms
3. Airbnb
4. Buy a house and pay the mortgage with renters (House Hacking)
5. Rent a house and rent out the other rooms
6. Rent a house and rent out the other rooms Bartering for Free Rent (Value Exchange) is an option.

1. Rent an Apartment, Then Sublet it for More Money (aka “The Rent Side Hustle”)

Despite the fact that I only did this once for two months, it was a complete success, and I earned $1,200. To be quite honest, I wish I’d thought of it sooner. It is an approach that I strongly suggest. The concept is straightforward: you sublease your flat for more money than you pay in rent and put the difference in a savings account. You may even go out and hunt for an apartment with the express purpose of doing this, and it will be much simpler if it is another unit in your building or an apartment you are already familiar with, as this will make things much easier.

1. There are occasions when money is hidden between the lines.
2. A buddy of mine, whose landlord hasn’t raised his rent in five years, asked me to promote it to him.
3. He now sublets the property and earns $1,200 per month.
4. For example, communities with frequent student turnover or buildings with management firms that are overworked and underpaid (most of the time!) make this extremely simple.
5. In the event that you take over a lease, you will be able to sublease it immediately for additional income.
6. Make certain, though, that you do your assignment.

One advantage of rents rising so rapidly is that, if you’ve lived in an area for a time, you can probably sublease your apartment for a lot more money than you’re now paying. Unless your landlord is really knowledgeable, you should look for a new landlord.

2. Rent a House, Sign the Lease, Then Rent Out the Other Rooms (and your treehouse?) at a Higher Rate

While this is a convenient method to live rent-free, it is important to note that you are responsible for collecting and paying the rent. Find a wonderful apartment at a great price, lock it up, and then rent it out to friends or other people at a greater per-room cost than you are now paying on your mortgage or rent. Adding $100-$200 to each individual room charge to cover the expense of your own should be quite simple if you’re staying in a 3, 4, or 5 bedroom apartment or house, depending on the size.

You can tell them that their rent will be slightly higher because you are shouldering the burden of the lease and making payments.

This is a genuine Craiglist advertisement.

FTW!

3. Airbnb Your Extra Rooms, and/or Your Full Apartment When You Travel

The fact is that this is a no-brainer, and I know a number of individuals who not only live for free, but also generate money from their flat. However, you should be cautious since your rental agreement, particularly if you reside in a corporate building, may contain provisions prohibiting house sharing. If you have a landlord that is from the old school, it is probable that they will not have any limitations, but it is best to double-check. Aside from that, make sure you set aside money for taxes because Airbnb revenue is taxable, and I know a few individuals who have been burnt by the IRS because of their Airbnb profits.

4. Buy a House With as Little as 5% Down or with an FHA Loan, Then Rent the Rooms to Cover the Cost of the Mortgage (aka “House Hacking”)

Let’s take it a step further and purchase a home so that you may make an investment, earn some money renting out rooms, and then live rent-free! Wha? Isn’t that the perfect trifecta? One common misconception is that you must make a 20 percent down payment. Many people, in my opinion, delay purchasing a home until they have a full 20 percent down payment, so missing out on possibilities to invest in rapidly rising real estate areas. While it is not always advantageous to purchase, given the extremely high rents in most cities, it is possible that purchasing will not be more cost effective in the long run.

purchase calculator in the link below), it is possible to make a significant amount of money on their investment.

Check out my post on how to determine if it is best to rent or purchase a property in your area for more information. Note: Keep an eye out for a forthcoming series of in-depth guest articles and podcasts on how to get started with house hacking.

5. Live at Home or with a Friend and Barter for Free Rent (aka “Value Exchange, Not Freeloading”)

This is actually a lot more prevalent than you may think, especially among younger people. If you have anything of worth (be it talents or an item such as a car), you may trade it for a reduced or even free rent in exchange for it. An anonymous Millennial Money reader recently contacted me to share her experience with me, stating that she provides free rent by allowing her housemates to use her car and cooking for them. If you decide to move back in with your parents, you can do the same thing – bargain for the luxury of free rent in exchange for the option to save and invest your money instead of spending it.

Important Tips to Living Rent Free

Here are a few words of caution: 1. Rental money is taxable income, so be cautious and make sure you set aside at least 30% of your rental revenue for tax purposes. 2. Always make sure you have renter’s insurance, and look for insurance that will cover the property even if you aren’t the one who is renting it out! 3. Pay attention to the fine print of contracts (yeah, I know it’s a hassle, but it’s worth it). Every rental and sublet arrangement is different – so be sure you cover all of your bases and that what you are attempting to accomplish is lawful under the terms of the agreements you are working under.

Maintain your composure.

Communicate in a straightforward manner with them.

If you decide to move back in with your parents, offer to pay rent or to perform enough chores/add enough value to ensure that you don’t take advantage of their goodwill by taking advantage of their generosity.

A Dozen Ways to Live Rent Free — Ethan Maurice

Ethan Maurice wrote this article on May 15th, 2019. In order to avoid having to pay rent, I’ve been doing all I can for the past five years. It’s true that I’m a restless traveler who avoids leases mostly for the sake of geographic independence, but you’d be amazed how much time rent may cost you in a year. I’m not a big fan of articles that are primarily comprised of statistics, and perhaps you aren’t either, but these are some eye-opening figures. Please bear with me as we begin with some basic arithmetic.

Consequently, at $800 a month, you’re much below that threshold, and you’ve managed to include in your utility costs as well.

$800 per month multiplied by 12 months is $9,600 per year As a result, you would need to earn $9,600 per year in order to trade a living space.

When a lease comes to an end, it’s just an additional $9,600 that you have to pay in order to keep afloat financially.

Now, we’ll run the math using a few alternative hourly wage rates, assuming you’re working full-time (40 hours per week), to see how much time it takes to pay rent every year based on the assumptions you make.

At $10 Per Hour:

The percentage of your income that is subject to taxation fluctuates depending on how much money you make in a given year. Throughout this essay, I’ll be calculating the tax % with the help of this helpful paycheck calculator. If you earned $10 per hour and worked 40 hours per week, your take-home pay would be 83.20 percent after taxes. As a result, a gross pay of $10 per hour is really $8.32 per hour. Putting the numbers together: $9,600 per year multiplied by $8.32 per hour is 1,154 hours of work per year.

That equates to 7 months of full-time employment every year to fund the $800/month rent payment.

At $20 Per Hour:

If you earned $20 per hour and worked 40 hours per week for the whole year, you would take home 80.42 percent of your earnings after taxes. As a result, a gross pay of $20 per hour is really $16.09 per hour. Putting the numbers together: Annual salary of $9,600 divided by hourly wage of $16.09 is 597 hours of labor each year. 597 hours divided by 40 hours per week is 14.9 weeks of full-time work every year. That equates to more than three and a half months of full-time employment every year to afford the $800/month rent.

At $30 Per Hour:

If you earned $30 per hour and worked 40 hours per week for the whole year, you would take home 77.11 percent of your earnings after taxes. As a result, a gross pay of $30 per hour is really $23.13 per hour. Putting the numbers together: Taking $9,600 per year and dividing it by $23.13 per hour is 415 hours of labor every year 415 hours divided by 40 hours per week is 10.4 weeks of full-time work every year. That equates to more than two and a half months of full-time employment every year to afford the $800/month rent.

At $40 Per Hour:

If you earned $40 per hour and worked 40 hours per week for the whole year, you would take home 75.33 percent of your earnings after taxes. As a result, a gross pay of $40 per hour is really $30.13 per hour. Putting the numbers together: Annual salary of $9,600 divided by hourly wage of $30.13 is 319 hours of work every year 319 hours divided by 40 hours per week is 8 weeks of full-time work every year. For $800/month rent, that’s two months of full-time work every year to make ends meet.

In Summary:

If your rent and other housing bills total $800 per month, you should do the following:

• At $10 per hour, you can work 7 months per year at full-time
• At $20 per hour, you can work 3.5 months per year at full-time
• At $30 per hour, you can work 2.5 months per year at full-time
• And at $40 per hour, you can work 2 months per year at full-time.

According to this, if I can avoid paying rent, I will be able to save myself many months of full-time employment per year. When I work for money (which I have done fewer than two times in the previous five years), I am often paid between ten and twenty dollars per hour, depending on the circumstances. In accordance with the figures above, simply avoiding rent saves me around four months of full-time employment every year. It is easier to understand the genuine cost of anything when we transfer the value of money into time.

Asking yourself, “Would I rather work four months more this year for rent or find an alternative?” is far more concrete than pondering the question of whether to make $800 a month. Throughout the past five years, I’ve consistently opted for an alternate living scenario.

Two points before we venture ahead:

1. Purchasing a home rather than renting is the most prevalent option in this area. As a result, those months of full-time employment become your equity rather than the equity of your landlord. And, given that the lender often receives more than 40% of the total cost of a mortgage in interest, this represents a significant gain in the amount of money and time saved by the borrower. Furthermore, the cost of real estate appears to be growing at an alarming rate, making purchasing an enticing alternative if you want to remain in one location.

1. Rent payment simplifies one’s life.
2. You have complete freedom to do whatever the heck you want — relax, concentrate, or anything else — because it is your world, your impenetrable bubble.
3. But what if you don’t want to put in the time to earn the money to keep a roof over your head for several months each year?
4. Perhaps you don’t want to be tied down to a specific location?
5. It’s a strange thought to think of not having to pay for a place to live.
6. However, this is far from the reality.
7. Inevitably, we will not be able to cover them all.

Several others are a little shadier than I’d want to venture.

Personally relevant and unforgettable instances are more intriguing and memorable than generalizations – I’ll provide them as soon as I am able.

List your property on AirBnb.com.

In exchange for $200 a night on Airbnb, she rested on a friend’s couch while her house was being rented out by others.

There is a significant difference between what a home is valued nightly on Airbnb and what it is worth yearly with a lease.

2.

The four of us shared a huge, loft-style four bedroom apartment near campus during our final year of college, which cost $1200 a month for the three of us.

We had a fantastic time, and I wouldn’t alter a thing about it.

For $500/month, I could have easily rented three rooms for the whole year, not only paying my own rent but also earning a few hundred dollars a month on the side.

Take up residence in a car.

The vanlife movement has resulted in some truly wonderful, completely functional residences on wheels, which are particularly appealing to those who work from home or who travel frequently.

There are advantages and disadvantages to mobile living, with the advantages include saving time and money.

4.

It is not possible to avoid paying rent in another nation, but if you are from the United States or another costly real estate market, renting in another country can be a fraction of the cost.

However, when compared to other locations, this is still rather pricey.

5.

While traveling, there is no requirement to pay rent.

I had just returned from Kathmandu, Nepal’s main city, where I had paid ten US dollars per night for a hotel room (breakfast included).

In Nepal, there is a free room on the Annapurna Circuit (as long as I promised to eat dinner and breakfast there).

Take it easy.

Roughing it is a difficult endeavor, and the majority of people are not interested.

While biking a bicycle across the United States, I discovered “stealth camping,” which consisted of rolling into cities with no clue where we were going to stay, pitching a tent somewhere obscure after nightfall, and departing early the next morning.

Life in the hull of the forty-nine passenger American Glory.

Work seasonal jobs.

Take seven months off to travel, read, and write.

In the summer, I lived in the lodge’s spacious manager’s office and bedroom above it, which I “rented” for fifty bucks a month.

My brother working out in my “manager’s office” with a bison grazing out the window.

12.

Websites likeTrusted HousesittersandNomador, connect homeowners and house sitters, finding the former someone to watch over their home while they’re away and the latter a free place to stay.

I was looking for a place to write and applied for half a dozen gigs throughout the United States, but I never received a single reply back.

Be mindful of stereotypes with this one.

Live with your parents.

the stigma.

I know — your own space is a wonderful, wonderful thing.

I tend to live life in chapters, five months here, three months there etc.

Any longer and I’ll get stir-crazy, but within a few weeks we have a good time.

Converting dollars and cents to days and hours allows us to see how we’re spending our lives. If the numbers don’t add up in our favor, we are free to rethink it all, adapt in whatever ways we see fit, and live as creatively as we please.

10 Creative Ways to Live Rent Free (Seriously) During COVID-19

Disclosure: This post may include affiliate links, which means that if you decide to make a purchase or join up for a service after clicking on one of my links, I will get a commission at no additional cost to you. For additional information, please see our disclaimer. Do you want to know how you might legally live without paying rent? The good news is that I am going to discuss 10 methods in which you may make that a reality with you right now. Real estate and housing expenditures are the most significant drains on personal income, especially if you reside in a leased facility, according to the Census Bureau.

While at the same time, it appears that the best budgeting advise for rent expenses is that they should not account for more than 30% of one’s gross income.

However, although certain rent hacks might help you cut your rent price in half, there are also a few real techniques to avoid paying rent entirely (without having to buy a property), and that is what we will examine today in detail.

Living Rent Free Saves a Lot of Money

How much money could you save every year if you didn’t have to pay rent? It’s a lot, as you can see. According to a recent research from Apartment List, the typical median cost of a 2 bedroom apartment in the United States is around $1,200 per month. Rent-free living allows you to save $14,400 every year, or $72,000 over the course of five years. Consider what you might accomplish with this extra cash. Would you use the money to invest for retirement, pay off debts, or go on that trip you’ve always wanted to take?

Once you start looking for methods to live a life of freedom, you will be able to do so year after year.

Ways To Live Rent Free

If you’re wondering where you can live rent-free, the answer is: almost wherever you choose. Here is a selection of choices for rent-free living that you might be interested in:

1. Become a house sitter

Owners who are going on vacation or who are forced to leave their homes unattended for any other reason will pay you to reside on their property while they are away. Depending on your position, you may be in charge of the basic maintenance of the house, such as watering the grass, taking care of the pets, forwarding the mail, and, of course, keeping criminals at bay. In accordance with your employment contract, this may be regarded a full-time or part-time work with the added benefit of free accommodation.

2. House hack your way to free rent

Owners who are going on vacation or who are forced to leave their homes unattended for any other reason will compensate you for living on their property while they are away. Depending on your position, you may be in charge of the basic maintenance of the house, such as watering the yard, taking care of the pets, forwarding mail, and, of course, keeping criminals at bay.

In accordance with your employment contract, this may be deemed a full-time or part-time position with the added benefit of free housing.

3. Elderly or live-in caretaker

The fact that some older people want to live in their own homes rather than in a nursing facility raises the question of what this means for you. In exchange for a free lodging, you may provide your services to others. Just be aware that you will most likely be providing basic services such as chores and errands, and that a great deal of compassion will be necessary. For additional information on these opportunities, use websites such as Craigslist or Facebook Marketplace.

4. Live in a van or caravan

In contrast to the home sitter option, this rent-free alternative necessitates a little initial investment as well as some engineering skills. There have been movies where entire families live in recreational vehicles (RVs), but it is just out of reach for the great majority of millennials due to the high cost of living. A van, or even a caravan, on the other hand, is far more affordable. If you want to live in your van, you can purchase an old van and restore it in such a way that it is habitable.

1. Many individuals become addicted to the freedom that comes with living in vans, but there are some clear drawbacks to this type of arrangement as well.
2. Furthermore, living conditions are quite confined and might become unsanitary if not properly maintained.
3. These are all aspects that must be meticulously arranged ahead of time, but they are not too difficult for those with a sense of adventure.
4. It makes for some intriguing reading.

5. Make a boat your home

This rent-free living choice is very similar to the preceding one in terms of benefits. Instead of having a house on wheels, you have a house with sails attached to it. It goes without saying that you’ll need to acquire a small, solid boat and find a suitable location near the pier where you can ‘park’ it, ensuring sure the location is protected from severe winds and waves. This notion is not acceptable for everyone due of the numerous concerns that must be addressed:

• Motion sickness — even if you are not sailing on an open ocean, your boat will softly rock from side to side at all times during calm weather. Whenever the wind comes up, the waves become more powerful, and your boat may be swept away along the canal or river if the mooring pegs get dislodged. Proximity to town– it goes without saying that this option will not work if you do not reside in a town that has a river or canal running through it. Performing routine repairs may allow you to save money on rent, but you will still be required to purchase fuel for the engine and lighting system. The batteries must be serviced on a regular basis, the deck must be wiped clean every day, waste from the toilet must be emptied everyday, and the water pumps must be serviced on a regular basis.

When it comes to living rent-free aboard a yacht, there’s a lot of trouble involved, so the desire has to be more than simply saving money if you want to fully enjoy the experience.

6. Live with relatives

Many cultures throughout the globe consider it quite normal to continue to live with your parents after the age of 18, or to live with your relatives in another city or country for lengthy periods of time after the age of 18. Occasionally, volunteering to pay rent may even be deemed disrespectful in these cultures due to a strong feeling of community that exists in these societies. In order to express your thanks, you would most likely feel compelled to lend a hand around the house.

You may always contribute to the household budget by helping with shopping, maintenance, housework, or even paying the rent, if your relatives are alright with it. This is a simple approach to save money while attempting to get back on your feet after high school or college graduation.

7. Get a job that comes with free accommodation

There are many different types of employment that include free housing as an added benefit. Certain positions in the real estate industry, such as property managers, are permitted to reside on-site since they are responsible for the day-to-day operations of the property. In both big and small scale real estate projects (such as housing communities and apartment complexes), this role can be used to both large and small scale projects (like motels or hostels). A significant amount of responsibility, such as tenant management, lease agreements, rent collection, maintenance and so forth, is attached to the perk.

Jobs in other industries have perks that are comparable to these.

8. Do chores in exchange for rent (Barter roommate)

It was mentioned before in the article when addressing how living with your family might minimize your rental expenditure and how you may want to help around the house with tasks to show your thanks for their generosity. Provide assistance around the flat if you opt to share an apartment with others in exchange for not being required to pay rent. You could prepare meals, do laundry, shop for groceries, or do whatever else that your roommates believe is appropriate for you. Barter roommates are sometimes referred to as roommaids, and while the moniker doesn’t seem particularly appealing, your wallet will be delighted as it grows in size over the course of several months.

9. Recover your rent through extra income

This is not a completely rent-free living arrangement, but it does assist you in recouping some of your rent expenses. You may market your space on Airbnb or sublease your apartment or house at a rate that allows you to recoup the full amount of your rent expense or even make a little profit on the rental. In the event that you’re having problems locating renters who can commit to a 6 month to a year lease, consider experimenting with short term leasing to tourists and vacation travelers using internet marketplaces.

• Make certain that subletting does not violate the conditions of your lease agreement with your landlord. Rent revenue is taxed, therefore you should consider in the amount of tax you owe when determining the amount of rent you charge your renters.

10. Couch surfing

It is possible to save money on rent by traveling throughout the country and living on strangers’ sofas from city to city. If you don’t mind scrounging about from time to time, this is a clever approach to save money on your rent. With websites such as CouchSurfing.com, it is also not difficult to locate a sofa to sleep on when traveling. This may be the ideal alternative for you if you are single and wish to travel around other states.

Why You Should Always Negotiate Rent (And How to Do It Right)

If you looked through the list above and couldn’t locate a place that was a good fit for your needs, you can still manage to afford rent by negotiating your lease. If you have never negotiated a rent before, you should discover why it may save you money and how to negotiate a rent on a house or apartment before signing any documents. When most people hear the word “negotiate,” they immediately think of automobiles and business transactions; however, renting a home does not spring to mind. In reality, the majority of Americans are unaware that they can negotiate the price of their rent in order to receive rent assistance.

If you have never negotiated a rental agreement before, you should discover why you should do so in order to save money. Despite the fact that it is not possible to live rent-free, it is still worthwhile.

Is Negotiating Rent Worth It?

In the event that you have never haggled before, you could feel a little self-conscious about commencing now. Based on where you live and the facilities available, the outcome of your discussion will be different from the one described above. As a result of the high cost of housing, saving a few dollars per month may result in significant savings over the long term.

How to Negotiate Rent

Tenant negotiation is most effective when the landlord feels like he is also winning; this does not imply bilking your future landlord out of money in order to get a better deal. You may bargain for a lower rental rate by doing the following:

1. Highlighting your strengths as a tenant

When starting the search for your new apartment, you should be prepared to make a few sacrifices – such as signing a longer lease and paying several months’ rent in advance – in order to demonstrate to your landlord that you are in good financial standing. If your landlord raises your rate, you should remind him or her of your excellent tenant record, which includes being nice to your neighbors and paying your rent on time. This will provide him with some motivation to retain your rent at its current level.

2. Offer to end your lease during summer

Because it is much simpler to locate renters during the summer months, you might consider offering to terminate your contract at that time in exchange for a cheaper rent. Offering to terminate your lease over the summer will be an enticing inducement for your landlord, and he may be willing to reduce your rent price as a result.

3. Be open to compromise

Because it is much simpler to locate renters during the summer months, you might consider offering to cancel your contract at that time in exchange for a cheaper monthly rent payment. In exchange for agreeing to terminate your lease during the summer, your landlord may be willing to reduce the amount of rent you are paying.

4. Ask about lease extension

When you demonstrate to the landlord that you want to remain in the flat for an extended period of time, he will perceive that you are a reliable investment. For example, if your lease is for a year, you should consider offering to extend it by another year or two if possible. It is possible that your rent may be reduced by the property owner or management since he will not have to deal with a new renter for an extended period of time.

5. Find out if the rent is negotiable

When looking for an apartment, you should inquire as to whether the rent is flexible with the possible landlord before signing a lease. A large property management business is unlikely to be prepared to negotiate the rent, but an independent landlord may be more accommodating. If you are facing a price hike in your apartment complex, you should bring it up at least one month before your lease expires so that you have enough time to make other arrangements.

6. Have alternative plans

When looking for a new apartment, it’s important to have a few options on your short list of possibilities. A hazardous strategy would be to pick one apartment and hope that the landlord would cut the rent on that particular flat.

This is particularly dangerous if you have already made arrangements to depart your previous location. Choose at least three locations where you would want to relocate – doing so boosts your chances of being successful and obtaining a reduced rental rate.

Living Rent Free is Possible

If you are wanting to negotiate your rent or live fully rent free, the advice provided above will be quite useful. Any negotiation can be difficult, especially if you don’t want to upset anyone, but these are only a few of the most typical methods of obtaining a rent-free apartment or house. Have any of these ever piqued your interest? Please let us know how things turned out for you. Several sources are used, including the Joint Center for Housing Studies (Harvard University) and the Pew Research Center.

Brian Meiggs is a writer and musician from the United Kingdom.

He specializes in assisting millennials in following the wise money in order to boost their earning potential and begin to accumulate wealth for the long term.

Many prominent magazines, including Yahoo!

How To House Hack And Live Rent Free

Entrepreneurcontributors express their own opinions, which are not necessarily those of Entrepreneur. I recently assisted one of my workers in achieving financial independence through the purchase of real estate. Part of this involved assisting her in locating residences in which she could share and live for free, a process known as house hacking. The concept of house hacking is straightforward: if you can afford to buy or rent a property with more bedrooms than you want, you may rent out the extra rooms to generate income to support your rent or mortgage payments.

This means that you can reside in a home without paying a rental fee in either case.

If you are OK with the idea of sharing a home with others, this technique may be right for you.

The practice of home hacking may not be to everyone’s taste; yet, it is a terrific method for many young professionals to save money.

House Hacking: Renting

Consider the scenario in which you wish to save money on rent. Alternatively, you may rent a room in a shared house in an economically depressed district. You would still be required to make monthly payments, and it would not be the most pleasant environment in which to live. But what if you could live in the most desirable neighborhood in town, the sort of neighborhood that everyone wishes to live in? Consider the possibility that you may live in such a beautiful location with no monthly rent cost.

• The solution is to hack into someone’s home.
• For example, you may rent a three-bedroom apartment.
• It is feasible to rent out the two remaining rooms at a price that will pay the entire rent due to the popularity of the surrounding region.
• It is true that obtaining the permission to do this with the landlord is the most difficult part of the process.

You will also most likely not be able to locate a landlord that is ready to do this right away. You must keep looking until you locate a landlord who is willing to work with you on this agreement.

House Hacking: Buying

If you are a first-time buyer in the United Kingdom, you can obtain a mortgage for up to 95 percent of the purchase price of a residential property where you intend to live. This implies that, as long as you meet the requirements, the deposit is not the most difficult obstacle to overcome. All that remains is for you to figure out how to pay for your mortgage and other expenses. The first thing to think about is acquiring a mortgage that is simply for interest. This indicates that you are simply deducting interest from your account, not the principal.

1. If you wish to lower your mortgage payments to zero, however, this is not an option.
2. Consider the following scenario: you purchase a three-bedroom property with spacious rooms and the possibility to convert the sitting room into a bedroom.
3. If you handle everything correctly, you should be able to cover the mortgage payment as well as portion or all of the property’s upkeep costs.
4. It is necessary for you to conduct considerable study into the local market because this strategy will not work for every property.
5. Related: 5 Steps to Purchasing Your First Investment Property in the United Kingdom

Risks and Challenges

There are dangers and obstacles associated with accomplishing all of this, which you should be aware of before taking any action. First and foremost, you will be in charge of locating renters. If you can’t locate any, or if you find some that are terrible and cause issues, it is your fault. If the rooms are not occupied during void periods, you will need to factor this into your calculations. Always set away a portion of your income for unforeseen circumstances in which you will be required to make payments on your own.

It is possible that you will be required to bring in a guarantor.

Instead of going via your bank, use a whole of market mortgage broker to locate all of the bargains that are available to you.

If you want to become a home hacker, you will face a number of difficulties that you will have to conquer.

If you are willing to put in the effort, you may be living rent-free.

This is not a road for everyone, but for others, it is an answer to their prayers as well as an opportunity to invest for their future financial security. If you want to buy investment property now, you should do it before the market crashes.