National

A Renter’s Plight

NASSAU, BAHAMAS – It all boils down to supply and demand, and according to Bahamas Real Estate Association member Philip Kemp, the local rental demand is high.

Published

2 years ago

August 2, 2023

Megan Shepherd

NASSAU, BAHAMAS – It all boils down to supply and demand, and according to Bahamas Real Estate Association member Philip Kemp, the local rental demand is high.

But, if you were to ask the average consumer, renters may beg to differ.

An audit of social media commentary shows potential tenants believe some of the existing supply oftentimes does not meet the quality for rent prices as advertised.

While potential tenants in other countries may benefit from rent control, Bahamian renters don’t have the same luxury. But can it work in The Bahamas?

BREA president, Nikki Beouf, says introducing regulations will mean a lot of research and consultation with licensed agents. As for how it may impact landlords?

And for the benefit of consumers, Kemp says overpricing units in this market may mean waiting months on end for a signed lease. As for buyers, he says beware and always use a licensed agent.