Start-Up Cost and Utilities

Start-Up Costs

There are a number of general rules of thumb to follow when renting a property;

1. Rent is always paid in advance.
2. Rents are usually due on the first of each month. If moving in mid month your first rent will normally be pro rated.
3. 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 not withstanding normal wear and tear. Any interest accrued (which is minimal) is currently generally in favour of the landlord.
4. 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. The basic monthly package starts at CI$77.00
• Telephone – CI$250 deposit for an overseas enabled landline.
• Internet is available through both LIME and through WestStar TV.

Direct debit and on line banking options are available to pay all bills.

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 but the fuel factor attached to the bills by the one provided CUC contributes for the majority of the bill. 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 only in an evening or during the summer months, the bills will average between $200 and $300. Larger properties and home will run at approximately $500 per month.  It is not recommended though to not use air conditioning for the majority of properties and many leases actually insist it is used, as due to the high humidity levels in Cayman, it does not take very long for mold or mildew to build up in a property when the air conditioning is not used, including when away for a weeks vacation for example. 

Water costs are not too bad here in Cayman. It is very drinkable though some 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 $120 - $150, but most couples will only pay around $50 - 80 a month. Along Seven Mile Beach properties also incur a sewage charge of approximately $75-$80 per month. Check with the agent or Landlord who is responsible at your property for the  actual costs.

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 at $77 per month for the basic package not including pay per view or HD options. There are 4 movie channels, 2 sports channels, all the US networks and so forth. Additional packages at an extra charge can 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.