Nassau Bahamas
Both in the expensive vacation rental sector and in the ordinary rental sector, the eviction of tenants is absolutely not a problem. propertyfinder
Rent: Do landlords and tenants agree to rent freely in the Bahamas?
There are two broad groups of rentals in the Bahamas: expensive vacation rental units and rental units for residents, with tenancies lasting about a week to a month. Rent may be freely negotiated and adjusted in both markets with the exception of those covered by the Rent Control Act.
The 1975 Rent Control Act covers housing of less than B$25,000 (1 B$=1US$). The rent shall not exceed 15% of the house and land value, 20% if furniture is included. Obviously, this law does not cover multimillion holiday resorts. According to one minister, no house in Bahamas is worth less than B$25,000 right now.
Deposits
There appear to be no legal deposit restrictions. Security and advance payment for rent for the first month and last month is normally required for common tenancies.
For holiday homes, deposits vary by unit size and location. A reservation fee of 30 to 50% of the total rent is usually paid in advance. Usually, the remaining rental fee is paid between 45 and 60 days before arrival. A cancelation fee of approximately $50 to $100 is charged for the reservation fee. A refundable security/damage deposit of about $250 - $500 is also required. The tenant can renew his weekly or monthly lease unless there are other reservations.
What are the rights of landlords and tenants in the Bahamas, particularly as regards contract duration and expulsion?
Bahamas houses residential villas
For Tenancy at Sufferance, the landlord can appeal to the police immediately and have the tenant removed. A court order must not be obtained before the tenant is removed, but most landowners will bring the tenant before court and sue for uncollected rent. The tenant will occasionally bring the landlord to court if he/she believes they have been unjustly expelled. If, however, the proper notice of rental due and possible expulsion is received personally by the Tenant, if payment is not made, the property owner is not convicted.
Tenancy is the most common form of tenancy for a period. To implement the contract, the terms of the lease, including a list of tenants, must be written. In the Bahamas tenancy is permitted from period to period, such as monthly tenancies, but is seldom practiced.
How effective is the legal system of the Bahamas?
The legal system in Bahamas is effective and predictable in general. However, due to the busy court system, it can also be costly and time consuming; this can make the enforcement of either Party's rights cumbersome.
Legislation
Residential state of the Bahamas
The Act No. 1 (Ch. 151) and No. 2 (Ch. 152) govern landlord and tenant relations. The 1975 Rent Control Act applies to homes less than B$25,000 (1B$=1US$). The International Personal Landholding Act requires foreigners to register with the Investment Authority to rent out their property.
Brief History: Bahamian landlord and tenant law recent changes
In Parliament, a bill is pending to raise the limit on rental control from $25 000 to $75 000. This could affect low-income rentals, but would not affect the affluent rental industry.