Long-term rental property
The long term or annual rental property market in the Cayman Islands has always been historically strong due to the transient nature of the expat population, which represents about fifty percent of the overall population of the Cayman Islands. Those working under two or three year contracts as accountants or attorneys within Cayman’s financial sector are more likely to rent property than buy and even if they stay for longer and eventually buy a home they will most likely start out with a period of long term property rental. For many young professionals arriving in the Cayman Islands, renting property gives them the perfect opportunity to make the most of the Caribbean island experience by renting a beach front condo or a condo overlooking the water. There is usually a good selection of long term rental properties available on the market at any given time although demand for rental property is greater in high season which in the Cayman Islands falls between American Thanksgiving and Easter due to the increased staffing requirements of the tourist industry. Those looking for long term rental property should start their search about four weeks prior to move in date, although it is a good opportunity to peruse what the rental market has to offer during an on island visit for a job interview the turn over of quality properties probably means that if the rental property is at all desirable it will not stay on the market for more than about six weeks.
As one of the most beautiful island destinations in the Caribbean the Cayman Islands has an abundance of vacation holiday rentals to choose from although this is reduced by strong demand during high season which in the Cayman Islands runs from around American Thanksgiving through to Easter. For those looking for a beach front condo to rent then Seven Mile Beach, is the most logical place to start, not only is it one of the finest beaches in the Caribbean with west facing views for that perfect sunset but it is home to the vast majority of condos in the Cayman Islands. Seven Mile Beach has a great selection of vacation rental condos to choose from ranging from luxury residences at the five star beach resort of The Ritz-Carlton, Grand Cayman to small complexes of just six condos. The residences at The Ritz-Carlton, Grand Cayman provides a luxury hotel like experience with the space and opulence you’d expect from a luxury multi-million dollar apartment, the awarding winning Caribbean Club offers less of a beach resort feel but a great feeling of privacy and space and still has an onsite restaurant so you can dine in if you choose. There are other beachfront condos in the Cayman Islands the remainder of which are mainly to be found in the beach resort area of Rum Point and Kaibo, these vacation rental condos include The Retreat, Cayman Kai Sea Lodges, Kaibo Yacht Club, The Pools and Gardens of the Kai.