Renting Property in the Cayman Islands
When to Arrive on the Island
We usually recommend that new arrivals have temporary accommodation arranged for a week to 10 days when they first arrive. This is sufficient time to get a feel for the island, view properties with Julia Shriver our Rental Agent at Engel & Volkers and secure a place with all the necessary documentation needed to get into your new home.
Apartment/Condo or House?
The first thing you need to decide is whether you want to rent a house or an apartment. Generally speaking a home is going to be more expensive than a condo. However, a house is normally more suitable for a family because it offers more privacy and more room for children to play. This may incur extra expenses such as yard and pool maintenance so make sure to check.
Living in an apartment is an easy way to meet new friends, they are more likely to have extra amenities such as a pool or tennis courts or gym.
What are the Start Up Costs?
Rent is always paid in advance. All landlords require a security deposit which is at least equal to one month’s rent regardless of the rental value of the property. This money is held by the owner for the term of the lease and is refundable subject to any deductions for damage notwithstanding normal wear and tear.
The utility, cable and phone company will all require deposits as well: Electric CI$100 per bedroom; Water – CI$100, Telephone – CI$100, Cable TV – CI$90, High speed internet
Furnished or Fully Furnished?
There are very few properties listed that are unfurnished. Of those that are, appliances are nearly always provided. Generally speaking properties are either Semifurnished – appliances, hard furnishings, window treatments, beds, mattresses, OR Fully furnished – all of the above plus bed linens, bathroom linens and kitchen items and equipment.
Cayman Islands Customs will allow you to bring in your personal belongings duty free within the first 6 months of arrival on the island, if you have a work permit/residency in place and they have to be used personal items.
What is a good Location for a rental in Cayman?
Ocean/beach front properties are going to cost you the most amount of money. If you are willing to live close to the beach, but not on it, you can get an enjoyable properties at more reasonable rates. Canal front properties are also a good alternative especially if you plan to buy a boat!
Snug Harbour, Canal Point, South Sound, Parkway and Governors Harbour are all areas that have apartments and homes, in good residential areas close to town, the beach and all amenities.
Prospect is an area 10 minutes from town that more and more people are moving to. Bodden Town is about 25 minutes into town. There is alot of condos and homes in this area, with several gas station and grocery stores. However, morning rush hour traffic can be backed from 7am to 9am, if you do not have to drive the kids to school or if you can start work at 9:15 or later you will be fine.
The district of West Bay is a great rental area, now with the highway, (its is 3 years old in 2017) the drive into Camana Bay takes 7 minutes adn into Geroge Town another 10 mins. Wherever you live in Cayman you will never be far from the sea, shops, bus route and you will always feel safe.
What Can I expect to pay for Utility Expenses?
Electricity is Expensive on the island, because of the high standard of power we have and the cost to run the plants. The air conditioning is the most costly and the newer properties have more efficient and economical. An apartment that has the air running permanently is going to run up bills averaging between US$200 and US$400 a month or much more for a large home.
Water is safe to drink from the kitchen tap in Cayman because Cayman Water using reverse osmosis for the water. Budget around $25 per person. Cable TV and high speed internet runs between $50 to $150 per month.
What about Pets and Children?
Unfortunately, many owners are overly cautious when renting their properties. It is generally difficult to find a rental that allow cats and dogs as many have strata rules or HOA rules preventing them. Even if owners of these properties place restrictions on pets and occasionally small children, these restrictions can sometimes be overcome by offering a larger damage/security deposit, usually around an additional CI$500 per pet.