TENANTS


For those moving to the Cayman Islands with a new job, finding a comfortable rental property to call home is an important priority, a key to getting settled quickly and enjoying your new Caribbean life. Those visiting the Cayman Islands for the first time and therefore unfamiliar with the different areas should rest assured that their Cayman Islands Sotheby's International Realty rental specialist will be able to guide and assist them in every aspect of renting a property, from finding the best location to suit your new Cayman Islands lifestyle and budget, the best property within that location be it house or condo, to negotiation of lease, setting up utilities and then settling down in your new rental accommodation. With the aid of your Cayman Islands Sotheby's International Realty rental specialist you will find that long term rental of a property in the Cayman Islands is a straight forward and pleasant process.

Contact: Karina McDermot
Cayman Islands Sotheby's International Realty rental specialist
karina.mcdermot@sothebysrealty.com
+1.345.925.3800

“Your Cayman Islands Sotheby's International Realty rental specialist has access to the full gambit of rental properties on island, tell us what you are after & we’ll do the rest”

Before you arrive in Cayman
The sooner you reach out to your Cayman Islands Sotheby's International Realty rental specialist the better they will be able to advise you on many different aspects of Caribbean life and not just rental property and they will be happy to share their knowledge. Providing an accurate price point for the monthly lease will help your rental agent narrow the field, they can then present you with options within your budget and then guide you as to the best location and property to suit your long term rental requirements. Details as to children and pets are very important as not all landlords will accommodate these in their rental properties or sometimes they will require an additional security deposit. You should start specifically looking for rental property about four weeks prior to the date you wish the lease to begin; this may mean starting your rental property search before you arrive on island in which case the assistance of a rental specialist will be invaluable.

Arriving in the Cayman Islands
Many companies bringing employees to the Cayman Islands will offer them temporary accommodation on arrival so as to give them an opportunity to find suitable long term rental accommodation, once you are on island and searching for rental property in earnest the process should not take longer than a couple of weeks and in many cases much less if the search has been started prior to arrival. Your Cayman Islands Sotheby's International Realty is here to serve you, moving to any new country can have associated stress and anxiety, even moving to the Caribbean (although you may not get much sympathy if you mention this to your friends!) so we are more than happy to guide and assist you, the Sotheby’s reputation has been built, worldwide on excellent service and superior knowledge. All fees for tenant placement are paid for by the landlord so although this service of excellence is of significant value there is no cost to you the tenant, if you are looking for a rental property on your own you are missing out on an excellent resource.

The best long term rental property to suit your needs
Due to the transient nature of the Cayman Islands population, there is usually a good selection of long term rental properties for tenants to choose from. For many prospective tenants it is an opportunity to enjoy the best that Caribbean life has to offer and they will gravitate towards a condo rental on the beach and Seven Mile Beach is certainly the prime choice, although the monthly lease will be priced accordingly. There are less expensive waterfront locations some of which may also offer docking space for a boat, which is a popular commodity to own in the Cayman Islands. Your Cayman Islands Sotheby's International Realty rental specialist will help you find a property that provides the best balance of budget, accommodation, location and lifestyle for your needs.

Securing a rental property

Once your Cayman Islands Sotheby's International Realty rental specialist has found you a rental property you wish to call home, they will then assist you in the negotiation of the rate and terms of the lease with the landlord. A rental property can usually be secured for a specified period of time prior to signing the lease if a non-refundable deposit is put down. Most long term rental properties lease in the Cayman Islands for a minimum term of twelve months however if it is low season and you are looking at a Seven Mile Beach condo they may consider a term of just six months if it means the lease will expire prior to high season. Most landlords within the Cayman Islands use a standard form lease but this should be read carefully and discussed with your rental specialist prior to execution.

Attention should be paid to the following details:

Term of lease: can either the landlord or the tenant break this.

Maintenance of property: It may be the landlords responsibility to fix items of disrepair but responsibility for items requiring regular maintenance such as the cleaning of a swimming pool or gardening should be established in the lease.

Damage to the property: This will usually be paid for out of a security deposit; usually one month’s rent paid up front, be aware of the terms and conditions.

Insurance: It is the landlords responsibility to insure the property but personal items should be insured at the tenant’s own expense.

Utilities: The tenant is usually responsible for most utilities, the lease should address these items & how the payment of such will be set up.

Inventory: An inventory of items included with the rental property should be attached to the lease and agreed to by both landlord and tenant.

Once the lease has been agreed and executed a security deposit, usually consisting of one month’s rent will be taken as well the first month’s rent in advance. If the landlord has agreed to allow pets within the rental property an additional pet security deposit may also be required.