Styles of Housing
There are various types of housing to choose from: family homes, townhomes, condominiums, apartment complexes or rooms/apartments carved out of larger houses. Detached four and five-bedroom houses are less common, however, there are some available but typically at a higher cost. Two bedroom condos and apartments tend to be the most readily available. The style of property available can vary from ultra-modern to older style “Caribbean” feel properties. We provide knowledge and advice to our Clients to ensure that the properties available are in the best possible condition to enable to attract the best tenants.
Most prospective tenants want to live in the ideal location. As with the property market in general, the best locations attract the highest rents. The Seven Mile Beach corridor traditionally attracts the highest rents in Grand Cayman due to its proximity to the beach and the convenience of being located close to most of the stores and restaurants Grand Cayman has to offer. For those with children, South Sound tends to be popular with its close proximity to schools, yet still close to George Town and not too far from the beach. West Bar\y offers more secluded accommodation to the North of Seven Mile Beach but access to the Seven Mile corridor and George Town is a short drive away, particularly with the new road infrastructure in place. Moving out to the East, Red Bay and Propspect are becoming more popular destinations for renters. Again it is just a short drive into town from these districts and rent tends to be lower. Every tenant has a different “wish list” of what they need from a rented property. We are on hand to offer advice and share our knowledge of the different districts to enable you to make a choice. Use our Search Engine to help find a property most suited to your needs or contact one of our rental agents Colleen Martin or Risa Golberg-Ebanks.
When you find the place that is right for you, you will need to put down a security deposit, which is generally equivalent to one month’s rent. This is held against non-payment of rent and damages to the property. You will not typically be allowed to move into a property until the security deposit and first rent payment have been deposited.
Overseas cheques from banks outside the Cayman Islands are rarely accepted by banks in Cayman. The majority of Real Estate companies no longer accept cash but they will provide you with an account to which you can deposit/transfer funds into or they will accept cheque or bank draft. Wiring funds is typically fairly easy as long as the amount is under $10,000.00. BCQS can provide you with wiring/transfer information for this. This process can take up to 14 business days to complete.
In addition to the rent and deposit, you will have additional start-up costs related to your new accommodation:
Utilities Deposit: Estimate approximately CI$150 for water, CI$100 per bedroom electricity and CI$100 for telephone if setting up direct-debit standing orders. Otherwise, you may be asked for double these amounts.
Maintenance Costs: Make sure the landlord will take care of maintenance costs associated with garden and pool care, if applicable, garbage collection, pest control, and servicing of general systems such as a/c. These costs are borne by Landlords but always check your lease to be sure.
Cable TV, or other TV service is more often than not included in with your rent, however again your lease will specify this. If Cable TV is not included in your rent, the cost for basic Cable is around CI$70.00 per month
Insurance: Insuring personal belongings is the responsibility of the tenant. The Landlord will be responsible for insuring the building.
Furnishings: Most units come furnished, which makes it easier for those shipping belongings from overseas. Some may be ‘fully furnished’ (linens, kitchenware and appliances are supplied as well as furniture). A television may or may not be included in a ‘fully furnished’ unit, others may be advertised as ‘furnished’ and provide the bare minimum: beds, sofa, table and chairs, as well as major appliances. Each property is different.
Pets: It is much more difficult to find housing where pets are accepted, especially if you are looking for somewhere on Seven Mile Beach. Some complexes do accept pets but will ask for an additional security deposit, which can be as much as CI$500 per pet.
Children: Some owners/complexes may not allow children or will only allow children above a certain age.
Non-Smokers: Many landlords will only rent to non-smokers.
No Sharers: Sometimes landlords will require apartments not be shared, i.e., only one family per unit.