Cayman Islands Rental Information

When to Arrive

This may seem like a strange thing to consider, but when you bear in mind that most leases and availability begins on the first of the month, then planning ahead makes sense. 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 your agent and secure a place with all the necessary documentation needed to move into your new home. Many companies actually pay for this temporary accommodation so ask ahead.

Availability

In most areas things have drastically improved in the last few years and the general feeling is that the whole island is fast becoming superior to pre Hurricane Ivan standards, including available amenities to the standard of homes to the basic infrastructure of the island.

With most repaired properties back on line along with many newly constructed properties, there is currently good availability for tenants seeking accommodation, and the prices for such are settling from the post Ivan rates.

The winter or “dry” season, which traditionally runs from December 15th through April 15th, has always been the busiest time of year, with tourists, new residents and employees all descending in a short period of time.

Many new employees, especially seasonal workers, begin arriving in September. Accounting staff and bankers tend to come in October, and once into December it can get very difficult to find good accommodation at a reasonable rent. Many seasonal staff and teachers begin to leave in May through July, with the next batch arriving in August. Many current residents use this time to look around for new accommodation or just to catch up with the market changes.

Apartment or House?

The first thing that you need to decide is whether you want to rent a house or an apartment. Generally speaking, a house is going to be more expensive than an apartment but there are some good deals around. However, a house is normally more suitable for a family than an apartment, often with more privacy and more room for children to play. However, they do sometimes tend to be a bit isolated so if mum is staying at home it can mean the need for an extra car. House living can incur extra expenses such as yard and pool maintenance which are sometimes, but not always, paid by the landlord so make sure to check.

Living in an apartment is an easy way to meet people. They are usually within walking distance of some shops, and they are more likely to have extra amenities such as a pool or tennis courts, and are generally more readily available.

Start-Up Costs

There are a number of general rules of thumb to follow when renting a property. Rent is always paid in advance. Rents are usually due on the first of each month. If moving in mid month your first rent will normally be pro rated. All landlords require a security deposit, which is at least equal to one months 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 not withstanding normal wear and tear. Any interest accrued will be in favour of the landlord.

If a landlord is accepting pets, there are often additional deposits for this. The utility, cable and phone companies will all require deposits as well:

Electric – CI$100 per bedroom or $500 along 7 Mile Beach for a unit in access of 1100 square feet.
Water – Water Authority - at owners discretion, but usually CI$150.
Cayman Water – no deposit.
WestStar Digital Cable – CI$90 hook up fee which is non refundable.
Telephone – CI$250 deposit for an overseas line.
Direct debit and on line banking options are now available to pay all bills.

Location

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 very nice properties at more reasonable rates. Canal front properties are also a good alternative.

Snug Harbour, South Sound, Parkway, and Governors Harbour are all areas that have apartments and/or houses, in nice residential areas close to town, the beach and all amenities. These areas did sustain considerable damage from Hurricane Ivan though so supply in some of these areas especially South Sound is very limited but things are coming on line quite quickly.

Prospect is an area 10 minutes from town that is popular with expatriates. Many new homes and apartments are springing up there, and a new shopping centre and supermarket is now complete. There is even a surf and skate board park that is very popular.

The districts of West Bay and Bodden Town are both within about 20 minutes of George Town and have cheaper, more traditional style houses as well as apartments. Wherever you live in Cayman, you will never be too far from the sea, shops, a bus route and you should always feel safe. Times are changing though and common sense dictates that doors and windows should be kept closed and locked.

Furnished or Fully Furnished?

There are very few properties that are listed that are unfurnished. Of those that are, appliances are nearly always provided. Always double check about blinds and window treatments.

Generally speaking properties are either:

furnished: -appliances, hard furnishings, window treatments, beds, mattresses, etc.
or fully furnished: - all of the above plus bed linens, bathroom linens, and kitchen crockery and equipment.

Televisions, stereos and VCR’s are a separate issue so always inquire, though televisions and microwaves are becoming the standard. Remember if the property is only furnished, the purchasing of those extra items will add to your start up costs. Some people do choose to travel with these items as there is a large allowance for personal belongs before duty is paid. However, this only applies if you have a work permit / residency in place, if the belongings are more than 6 months old, and if they are brought in within the first 6 months. Do bear in mind that if you bring them with you, and the property you pick is fully furnished, you may have to store them yourselves.

Utilities

Electricity is not cheap on the island, because of the usage of air conditioning. Most of the newer properties actually have split zones, which make them more economical. An apartment that has the air running permanently is going to run bills up to about $250-$350 a month. However, by only using it in an evening or during the summer months, the bills will average between $200 and $300.

Water is not too bad here in Cayman. It is drinkable but most people prefer to drink bottled water. This can be bought at the supermarket or delivered to your door on a monthly account. Average bills for piped water for families of 4 with lots of laundry can be around $150, but most couples will only pay around $80 a month. Along Seven Mile Beach properties also incur a sewage charge. Check with your agent who is responsible at your property for the bill.

Most homes are equipped with electric stoves but some of the older homes, and ironically more modern kitchens use gas. It is provided here in bottle form and is very economical. The bottled gas company will deliver to your door as needed.

Digital Cable TV runs to $64.95 per month not including pay per view options. There are 4 movie channels, 2 sports channels, all the US networks and so forth. Additional packages at an extra charge can now be added. Some apartment complexes have a package deal with the cable company offering a discounted rate. Check with your agent. Many units now offer satellite TV with the tenants choosing their own packages. This usually gives you about 60 channels starting at around $75 per month.

Pets & Children

Unfortunately, many owners are overly cautious when renting their properties and put restrictions on their tenants. It is generally difficult to find apartments that allow cats and dogs as many have management (strata) by-laws preventing them. It is getting easier as times go by and smaller complexes and private homes are more reasonable. Even if landlords of these properties place restrictions on pets and occasionally small children, these restrictions can sometimes be over-come, by offering a larger damage/security deposit, usually around an additional $500.00.

Transport

Public transport is regulated in the Cayman Islands. There is a bus service that runs to each of the main areas of the island making getting around that much easier. They are abundant during rush hours. They are usually only a couple of dollars regardless of where you want to go. There are a few official bus stops around but it is easier just to flag one down when you see it approaching (single deck mini buses) and they will normally drop you at a spot that is mutually convenient.

There are a large number of taxis operating on the island and, like the buses, these are regulated with a central committee fixing the more than reasonable fares. Again, these can be flagged down or the numbers for them can be found in the local phone books.

Cars are readily available on the island for purchase, new and second hand, due to the transient population. Bringing your own vehicle from overseas can be an option but duty charges vary between 25-40% depending on the value of the vehicle, regardless of age and when it is brought down. Remember also that the climate here can be very tough on vehicles.

Medical Facilities

The facilities on Grand Cayman are very good. There are an abundance of private clinics as well as Government Health Clinics in each district. In George Town there is the Government Hospital and the privately run Chrissie Tomlinson Hospital. Both provide a full range of modern, up to date care in good surroundings. In cases of extreme illness or injury patients are air lifted to the United States for further care.

Note: Medical Insurance is compulsory in the Cayman Islands.

Education

Education has come a long way in the last 8 years, with young people no longer needing to go off island for the best in secondary and further education. As in health care, there are a vast range of governmental and private schools in the Cayman Islands, though expatriates are required to send their children to one of the many private schools on the island.

Day care and preschools often provide care for babies allowing mums to return to work when necessary up to the age of 5. This is complimented by Kindergarten in the private schools, and then standard education is available in both the American and British systems right through the grades to high school and college.

Both Cayman Prep & High School and St. Ignatius Prep & High School, as well as Triple C School offer a full range of education to A level / graduation standard that are affiliated with many of the colleges in the US and UK.

The Cayman Islands International College is the Islands’ “University” offering many degree programs. Local students as well as many overseas students attend the site located in Savannah.

The UWIDEC Cayman Islands offers both technical and academic programs from fun to degree level and these are available to all. Located in George Town.

For further information on available rental properties www.thpm.ky