Real Estate

Is It Possible to Find a Rental Property in Cayman by Our Own?

February 16, 2021
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Living on a rental property has its perks. Renting will not overburden you with EMI payments, taxes, or other legal issues that come with owning the property. You can relocate effortlessly and shift to cities where you get good work opportunities. The benefits are abundant.

Living in the Cayman Islands is a dream come true. The beauty of Cayman is unfathomable; the nightlife is eccentric, the cuisine is a gastronomical delight, and the people are as welcoming. 

Below mentioned are a few pointers you can keep in mind while finding a perfect paradise for you.

  1. The time is ticking – 

The Cayman market has seen dramatic growth since 2013, and the tourism industry is on the rise. The prices are increasing gradually due to the surge in residential construction and inventory being low.   

Now, if you are looking for houses on rent in Cayman, you have to narrow down your choices as soon as possible. Do not wait for too long to decide on the rental property.

  1. Know Cayman Geography – 

The Cayman Islands are a British Territory located in the western Caribbean Sea. It comprises the Grand Cayman, Cayman Brac, and Little Cayman. Furthermore, Grand Cayman has an excellent neighborhood and is an ideal choice. 

Factors that you have to consider while choosing a place for rent is whether you want –

  • waterfront – generally the most expensive properties, and perhaps the lowest inventory 
  • canal-front
  • secluded inland property

Another factor to consider is whether you want it near schools, offices, shops, and supermarkets? You can search for Grand Cayman condo rentals online to get a sense of availability.

  1. Your Budget and Other Cost

Determine your budget and stick to it, since it has its advantages. Apart from it, be upfront and discuss any hidden costs with the owner. You might have to pay a substantial deposit (generally an entire month’s rent) and the first month’s rent beforehand. 

It is advisable to carry Cayman Cash with you since foreign cheques are rarely accepted. 

  1. Avoid ‘Temptation to Buy’

Did you spot a “For sale” sign? Well, slow your horses there. Going by what ex-pats have to say, you should give yourself time to get well-acquainted with the culture, island, and neighborhood and then buy a property. For starters, a flat or condo on rent is the best option, and it is the best way to explore the island and to get comfortable with the new life.

All this research can later help you decide whether you want to buy the property.

You can do it!

But professional help won’t hurt.

If you are on a hunt for Cayman Islands real estate rentals, doing so all by yourself can be very much possible but as exhausting. Managing your job, life, and looking for a house on rent will not be easy and is not a one-person job.

Thanks to the real estate management services, the transition can be more manageable. They will guide you through the best options suiting your needs and budget— a win-win for both.