When you’re budgeting for your apartment, make sure to account for the cost of utilities. If you don’t, you’ll be in for an unpleasant surprise when you get your first month of bills.
We’re going to give you an overview of the utilities you’ll need to consider when you’re renting an apartment.
Before we dive into it, a quick disclaimer: you may not be required to pay for all of these bills. It will depend on the building you’re living in and the property manager you’re renting it with. To find out what utilities you need to pay for, ask your landlord or review the details of your lease.
We use water each time we run the dishwasher, wash our clothes, flush the toilet, or take a shower. Naturally, the cost of it adds up. Of all the utilities, it’s most common for landlords to pay the water bill.
In Manitoba, we rely on hydroelectricity to power the appliances in our homes. The cost of this bill varies from tenant to tenant. For example, if you work from home, you use electricity most of the day, which means your costs can be higher.
If your building uses natural gas to heat or cool the apartment, you’ll likely need to cover the cost of it. On average, it’s less expensive to heat an apartment using natural gas than electricity.
There’s not much you can do these days without a strong internet connection. If you don’t want to miss the next Bombers or Jets game, you’ll want to pay for cable, too. At some properties, the costs of internet and cable are included in your monthly rent.
If tenant insurance is optional at your building, you might be tempted to skip out on it. However, most tenant insurance plans are surprisingly affordable, even on a tight budget.
When you add up all these costs, it might amount to a significant chunk of cash. Remember to keep the cost of utilities in mind when you’re budgeting for a new apartment.
You’re used to paying one price for electricity, but once winter rolls around, you’re stuck with a much higher bill. What happened?
It’s not unusual to see increases and decreases in your monthly utility bills. Try to set aside a savings account to prepare for any unexpected bills.
Wondering how to budget for the cost of your utilities? This next tip won’t necessarily save you money, but it will help you manage high electricity or natural gas bills: By enrolling in Manitoba Hydro’s Equal Payment Plan, the cost of your utilities will be averaged out over 12 months. That way, your payments will be consistent and easier to budget for.
When you’re crunching the numbers for your apartment budget, make sure to account for utility costs. Looking for a Winnipeg apartment rental? To learn more about the listings on our website, contact Globe Property Management today.