Many of the property owners in the Grand Cayman area don’t live at their properties all year long. Some choose to hold on to their properties without living on the island all year long. If those owners fail to hire a Cayman residential property management company, there are several hazards the property faces if left alone.
Bugs
Grand Cayman condo rentals can get bugs if the owner does nothing to prevent that from happening. Bugs are naturally deterred by people living in a space. When owners are away, measures like bug barriers and sprays have to be taken or else the home can get overrun. If you’re trying to rent your property to others, this is unsightly and will lead to poor reviews that won’t make your rental business last long.
Mold
Moisture is prevalent in the air around Grand Cayman, and commercial and residential property is especially susceptible. Cayman commercial property management looks out for mold and runs the air conditioner to help dehumidify the space and keep it mold free. That means safer breathing conditions for tenants. Residential owners should do the same.
Property Value
All of these hazards add up. Unkempt property means fewer tenants, which means less money to spend on renovations. Overtime, that means lower property values.
Your investment in Cayman Islands real estate improves more over time if you are willing to reinvest. The Cayman Islands remain one of the most sought after tourist destinations in the world thanks to a particular standard of aesthetic.
Bio: REM Services is a Cayman Islands property management firm that specializes in both commercial and residential properties on the island of Grand Cayman.