BATON ROUGE, La. (BRPROUD) – As of June, the average monthly cost of rent for an apartment in Baton Rouge is reportedly $1,128,
With housing and rental costs steadily increasing, a number of locals are concerned about maintaining their current living conditions.
For many, the looming question of what to do when rent becomes unaffordable is growing increasingly in need of a satisfying answer.
Just below are six related suggestions from financial experts. Hopefully, their advice will be helpful to locals who are struggling with skyrocketing housing costs.
Talk to your landlord
If your monthly rental cost suddenly goes up, it may be possible to discuss your financial situation with your landlord and ask if s/he has an alternative payment option available.
They may offer you a longer lease at a reduced monthly rate. Or, if you know you’re going to be short on cash for the next few months, you can also request an installment plan or waived late fees.
Anxiety about the conversation may be worse than the actual conversation. So, just give it a try and see if your landlord is willing to work with you.
Modify your living arrangements
You may be used to living alone, but if you can’t carry the cost of a suddenly exorbitant monthly rent fee, it may be time to call a friend and ask if they want to be roomies.
Another option is to consider subletting your apartment or a room if your lease permits. If you sublet your entire apartment, you can move in with a loved one who understands your temporary situation.
Look into private rentals
If your lease is up and you’re trying to find a place to live, it’s good to keep in mind that large, gated apartment communities can be significantly more expensive than private rentals, which are properties that are owned by an individual or family as opposed to a corporation.
Search Baton Rouge for private rentals such as modest homes, small apartments, or even guest houses that are separate from the main property.
These rentals may be more budget-friendly and their landlords more lenient when it comes to application fees or deposits because they don’t have to answer to a corporate office. As this is the case, a private landlord may also be more willing to negotiate rent amounts or overlook past evictions that could bar you from renting elsewhere.
Consider getting a loan
Think of any family members or friends who may be willing and able to grant you a loan that you can pay back in installments. This may help you to cover your rent for a few months.
If you can’t think of someone you know who can help, apply for a loan through your bank or through a Better Business Bureau-approved financial institution with solid reviews.
Get help from a local nonprofit
There are a number of organizations locally and statewide that are designed to help individuals who are experiencing financial hardships. Some may offer rental assistance.
United Way can help you access those services, call United Way at 211 and they’ll put you in touch with local resources.
Two national organizations that may be able to help are the U.S. Department of Housing and Urban Development (HUD) and The Salvation Army.
As a last resort, pay your rent with a credit card
While this isn’t a long-term solution, it can help cover rent for a month or two.
Some services allow for rental payments with a credit card. For example, Plastiq allows users to charge their rent to their card and then cuts their landlord a check on their behalf in exchange for a 2.85% processing fee.
You’ll have to pay the money back over time, with interest. But doing so can be a temporary solution to the problem of how to pay this month’s rent.
Click here for additional information related to housing in Baton Rouge.
