If you’re a prospective or new landlord, the best place to start is with this Landlord Guide. It contains an accumulation of steps you should consider when listing your investment property for tenancy occupation.
this is just a general guide for Landlords who are owners of Caribbean homes. Any information provided is not legal advice and should not be treated as such. The information in this guide/webpage is provided without any representations or warranties, express or implied. You should seek help from a professional for any legal matter
In recent years, the Caribbean long term rental market has been in high demand, from both locals and foreigners. Particularly, those running away from Covid-19 infected areas. Also, work from home, enables nomads, international business people, tech entrepreneurs to work from an idyllic location or next to the beach. BTL properties give renters’ the opportunity to stay in your house long term and pay a stable rent, your income. You must ensure you have a water tight tenancy agreement, deposit agreement, insurance, working amenities within the property and fulfil the tenants needs. Often times, these issues may cause the biggest disputes to between the landlord and the tenant.
I see a lot of landlords make this mistake; they have unrealistic expectations and end up asking above the odds. It’s an expensive mistake to make because it could mean the property remains vacant longer than it has to be, which will effectively cost more than having a realistic asking price in the first place. Landlords commonly overprice their properties because they put their heart and soul into getting a property ready, so they put a value on their blood, sweat and tears, which gets passed onto the asking price. In reality, tenants won’t care how or why a property looks the way it does, as long as it looks acceptable to their standards and in accordance with surrounding market rents.