Residential and commercial rentals

You’ll need a work permit to be able to live in the Cayman Islands. You may also require a guarantor for your lease (a friend or family member who is resident here).  

Prospective commercial tenants must provide:  

• A current copy of their Trade and Business License   
• A current copy of their ID for themselves and their guarantor   
• A current bank reference letter for themselves and their guarantor   
• A current Certificate of Good Standing  

 Prospective residential tenants must provide:  

• A current employer’s letter or bank statement showing monthly/annual salary    
• A current copy of their ID for themselves and their guarantor   
• A landlord’s reference letter   

Strata means that while individual apartments or townhomes are owned by the buyer or investor, the shared areas (such as gardens, pools or parking) are owned and maintained by a strata corporation. This is typically managed by the property owners themselves or through a professional management company.

Yes. For residential rentals, this is usually 6-8 weeks rent, and you’ll also be expected to pay a month’s rent in advance. Rent is usually collected monthly by bank transfer or cheque.

Commercially, you’ll need to pay a security deposit and a month or a quarter’s rent in advance. (Rent is calculated by the square foot.)

In some commercial rentals, tenants may be required to contribute to Common Area Maintenance, commonly referred to as CAM. These charges cover the upkeep of shared spaces within the property, such as parking areas, landscaping, lighting and common walkways.

CAM charges are separate from base rent and only apply where specified in the lease. Not all commercial properties include CAM, so it is important to review your lease terms carefully to understand what, if any, shared maintenance costs apply to your unit.

Additional costs can vary, so it is important to review your lease carefully to understand what is included in the rent and what is your responsibility. Tenants should budget for utility deposits and ongoing bills such as water, electricity, gas and internet. You may also wish to arrange insurance for your personal belongings.

Bringing pets can be challenging. Many rental properties—especially those in strata developments—do not allow them, even with an additional security deposit. If you’re relocating with pets, confirm the property’s pet policy before signing a lease.

Securing school places for your children can be difficult owing to long waitlists at both public and private schools. It’s advisable to research and apply for school placements as soon as possible if you’re planning to relocate with children. Homeschooling is another option, but you must apply to the Department of Education Services, and this should be done in advance so all the necessary checks have been completed in time.

Simply put: yes, it is! As with anywhere, housing costs do vary depending on location, size and property type (renting near Seven Mile Beach, for example, will cost more than a similar property further from the beach). If you’re coming from an expensive city such as New York, you may be used to a higher level of cost. Liaise with your employer to see how they can help with moving expenses (for example, shipping your possessions) or with a contribution to compulsory health insurance. Think about car purchase and insurance – and you may need to apply for a Cayman Islands driving licence (if you’ll be on the islands for more than six months).