Highway robbery

I was just taking a peek at Bermuda's E-moo website at their apartment rentals section, and I have but one word...HIGHWAY ROBBERY! Well that's two words but hey, it's unbelievable. The price of a studio apartment in Bermuda is now USD $2,000/ mth. Who are these people kidding? I'd love for someone to make mention of that it's the expats that are driving up the rent prices in Bermuda because boy, I'd just redirect them to the greedy landlords. Half of the stuff they are passing off as new is not even nearly as good as what's available here in Cayman. Can we say highway robbery again?

Rent

Because I've been looking around for a two bedroom apartment in Cayman, I decided to check out the rental market in Bermuda - just for kicks. What I found shocked me. There are very few one bedrooms, in and around town that are going for less than USD $2,300 The ones that are, are further away at the ends of the island. What was worse was the prices for the two bedrooms. What used to go for USD $3,000 is now going for USD $4,000 When did the rental market undergo such a drastic increase? And who on earth can afford these prices anymore? In the past, expats have often received a bad rap as the cause for the rise in rental prices, because the general assumption is that most expats receive housing allowances from their employers. This is so not true. For a few years now, most employers are NOT extending housing allowances to even its senior staff. As a result of which there is is a new breed of thinking from locals themselves. Many of them are boldly stating that the demand in the rental market has made many local landlords greedy, and therefore they are the ones setting the high rental prices. Makes sense, doesn't it?

Like Bermuda, the rental market in Cayman is quite competitive and strong. In 2004, Hurricane Ivan unleashed such devastation that there were a shortage of rental accommodations in the aftermath. Understandably rental prices skyrocketed. Since then Cayman has been building and building and building, to the point where there is now an abundance of rental accommodations. For the first time since Ivan, rental prices have begun to stabilize and will hopefully decrease. A nicely furnished two bedroom, close to town will cost you about CI$1,800 (USD $2,200), which when compared to Bermuda is a bargain, because most places here are nicely furnished, inclusive of cable (some with pool & gym access). Still it's a steep price to pay. Of course, location is everything and when were talking about an island, it's anything but cheap.

the 2 year mark

As of Monday, it's been two years for us here in beautiful Bermuda. Neither of us noticed the anniversary date & I don't know how that happened. But in taking a moment now to look back at the past, I remember the most pressing thing that we were worried about when we first landed - finding a decent apartment & having about a month to do it in. Since Hubby had already started his then new job two days later, the onus was on me. I had to be proactive as soon as e-moo posted their rentals for the day because the good ones would be snatched up before I'd even had time to blink.

Due to the huge demand, landlords are able to be picky & choosy about whom they want renting their space. Words like 'Professional non-smoking couple' are ones that landlords like to hear. A question we'd often get asked is if we're married. You see as Bermudians are very religious, there are some that refuse to rent to unmarried couples. Being betrothed does not count either. Of the 10 apartments we looked at, only two ventured to ask about our marital status. Two that I can remember.

However, if you have pets it is difficult to find a one bedroom rental. Dogs or cats, it doesn't matter. You will more than likely have to rent a two bedroom house which can cost an upwards of $3,000 USD per month or houseshare. So, if you're planning on bringing the beloved canine or feline family member, I'd suggest you leave it behind. The move & the transition will be a lot less aggravating for all parties involved, meaning you & the pet. It's not so easy for your pet to adjust to a new place, a new sub tropic environment especially while you are away at work for the better part of the day. Friends have also told me that dogs here catch fleas fairly easily & the vet visits here don't come cheap if your pooch or kitty needs to make a trip to the doctor.

For the most part, however, if you do get a place with an ocean view, it's a good thing. For those of you looking to move to Bermuda & would like to have a clearer picture of the rental market, here's the link. Good Luck & Happy Hunting!