LANDLORDS
With around fifty percent of the Cayman Islands population being expat and many of these holding short term
work permits there is a large pool of potential tenants and a strong rental market for landlords to lease
property in. The Cayman Islands has the highest income per capita in the Caribbean and employs many high
earning attorneys and accountants in positions relating to the Cayman Islands financial industry thus
providing a high calibre of tenant looking for rental properties of an equally high standard. These market
factors mean that the Cayman Islands is a great place to be a landlord and own investment property for good
return on investment.
Cayman Islands Sotheby's International Realty is able to offer the highest level of service to landlords looking for tenants to lease their
property. Cayman Islands Sotheby's International Realty is the only company on island that offers professional quality photography as
standard for all of its long term rental property listings making it very easy for landlord’s to choose which real estate company will
represent their property. Once professional photos have been taken of your rental property it will be displayed on the most comprehensive
real estate web site for rentals in the Cayman Islands: www.sircaymanislands.com
It will also be disseminated throughout the various Sotheby's International Realty websites and their affiliates including
www.sothebysrealty.com, Wall Street Journal and the New York Times. Locally, print media will include weekly placement within the highly
visible Cayman Islands Sotheby's International Realty rental section of the Caymanian Compass.
The three major components in getting your property ready for renting & making it an easy choice for a tenant to pick your property as
their next long term rental home are listed below.
Preparation
As with the sale of a property, time and effort should be made to ensure that the property is in tip top condition with regards to the
basic mechanical, electrical & plumbing, this is often more pertinent with a rental property because at least when buying a home the price
can be negotiated with a view to the purchaser making upgrades to the house or condo themselves, tenants prospecting for a future lease
want to have an immediate level of assurance when looking at a property that the landlord maintains his properties to the highest standard,
this will give them confidence that if something does require repair in the future the landlord will be quick to remediate the problem.
Price
As with any product or service being sold price is key, it is critical to price your rental property according to the market and the most
successful landlords are usually those who realize that negotiation of price is a great deal more cost effective than leaving the rental
property empty for even a couple of months. Your Cayman Islands Sotheby's International Realty rental agent will be able to advise you as
to the best price at which to bring your rental property to market and will be able to negotiate the best price possible for the lease.
Presentation
Presentation is closely related to preparation but is more concerned with the finer details, preparation is to ensure that everything is
working correctly but presentation is equally as important in making sure your rental property is looking its best. It is essential that
your rental property is clean, that is SPOTLESS! If a previous tenant has just completed a lease, the property may benefit from a fresh
coat of paint, carpets or tiles make need to be professionally cleaned and close attention to detail should be paid in areas where hygiene
is of paramount importance to tenants, these include the kitchen and bathrooms. Missing or broken crockery should be replaced, as should
any bed linens or towels that are showing signs of wear. Once all remedial and improving work has been completed your property is ready for
its professional photo shoot, the temptation to get things moving as quickly as possible and schedule a photo shoot for the day your
previous tenants move out should be avoided, in the long run you will spend more time sourcing a tenant than if you wait to take photos of
the property when it is looking immaculate.
