The best contingency out there is the layoff lease; if you lose your job you will get free rent for 1-2 months and a no penalty clause that allows you to break your lease.  Now that is the art of negotiation.

Forget all the free gym memberships and look for free utilities.  Today’s electric bill could set you back a few hundred and who need’s to look good when you’re sitting in the dark with no electricity because you used all your funds to pay the rent?

In any transaction there is a bargain waiting to be negotiated. Rental property is no different because vacancies are high on every list and landlords would rather get money than let units sit.

So if you’re seeking a deal but don’t know where to begin ask your landlord for some of these concessions:

1. Can you change your lease to month-to-month?
2. Remind them the rent is cheaper down the street (even if it’s only a few dollars) and you’re thinking of moving to save money.  Can they lower your rent?
3. Perhaps there is a smaller unit that is cheaper on a different floor?  Can you move there? 

Look for overall ways to save money.  If you drive to work why not look for a rental property on a metro line.  You might find a cheaper rental property and save money on gas by switching your routine to use a bus route.

Also, now may be the time to think of getting a roommate.  All of us like our privacy and if you’re not use to sharing it could become difficult but in tough times comes difficult decisions and sharing may just be your answer to save on money.