Wednesday Wisdom!


You’ve found the perfect piece of land for your new home, but before you commit, be sure to ask your real estate agent if there are any deed restrictions or covenants with the property.   Deed restrictions are clauses in the deed that restrict the use of the land.   Examples of some common deed restrictions in the Bahamas are:

  • No swine, cows or poultry are allowed to be kept, raised or maintained on the property
  • No piece of land may be subdivided and sold
  • No signs, advertising, or billboards can be erected on the property
  • Only one dwelling house may be erected on the property
  • Specific building setbacks from the property boundaries

Covenants are promises written into deeds and other instruments where property owners agree to perform, or not to perform certain acts or require or prevent certain uses of the property.   Covenants often include items that:

  • Enforce architectural or design standards, such as no three story structures
  • Prohibit practices like short term rentals, or using certain types of fencing
  • Restrict the property to a certain type of use, such as residential only

Often gated communities and condominium complexes will have specific restrictions and covenants that prospective purchasers would do well to know in advance.  If you bought a condominium property as an investment thinking it would make an excellent property to list on a vacation rental site, only to find out that no short term rentals were allowed, it would change your income potential on that purchase greatly.

Sometimes when residential properties once restricted to single family homes find themselves fronting on a busy roadway, with families moving from the area because of increased traffic and noise, a property’s use may change from residential to commercial. Proper government approvals are required and often granted on application in situations where an area is beginning to change.

Family island properties not in planned communities often have no restrictions or covenants or sometimes unusual restrictions or covenants, like ones prohibiting the drinking or sale of alcohol.     Something like that could severely restrict certain person’s vacation fun.

Check your potential purchases particulars carefully.


Wednesday Wisdom, Commercial Leasing

Learn more about our Commercial Leasing department. We not only lease spaces within our commercial portfolio, but any for lease space that is the best fit for you! Morley Realty Ltd.’s agents have the knowledge and experience to help you find the perfect space, location and neighborhood to bring your commercial dream to life!

Office contact: (242)394-7070 or, or stop by our office Monday- Friday 9am-5pm!



Wednesday Wisdom, Commercial Sales

Tune into the video below to hear about Morley Realty Ltd.s Commercial Sales. We take pride in our commercial sales all over The Bahamas, not only in the properties that we manage. We hope one day we can help you find your commercial opportunity that you’ve always been wanting.

Contact our office for commercial real estate inquiries at (242)394-7070, or email us at


Wednesday Wisdom for Landlords!

5 Tips For Residential Landlords

  1. Establish a clear, fair system of setting, collecting, holding and returning security deposits.   When you inspect and document the property before the tenant moves in, and clearly let the tenant know, it will avoid issues when the tenant moves out.
  2. Stay on top of repairs and maintenance and do the work when the tenant requests.   If you don’t, you’ll alienate good tenants.   Most leases say that your responsibility as a landlord is to keep the property in good and tenantable condition, so honour that clause or you may lose a tenant.
  3. Respect the tenant’s privacy according to the terms of the lease.   Give tenants notice before you visit or want to enter the property.
  4. Try to resolve disputes with your tenants without using attorneys.   Meet with the tenant over issues that may come up to see if you can resolve the issue informally first.   If that doesn’t work, try a neutral third party next.
  5. Let the tenant know what your insurance covers on the property. Is it just the exterior of the building?   Do you have coverage for a water heater leaking and damaging contents?   Be clear, so the tenant will know what they may have to do in terms of their own insurance coverage.


Unique Wednesday Wisdom!

Today we would like to give you a little commercial wisdom from Morley Realty Property Management. We take pride in giving quality service to all of our clients, as that is what we have been doing for years.

Check out our video about Morley Realty Property Management filmed and produced by Jiggy Productions, a local production company owned by Kyle Ferguson!


Is It Time?

Real estate agents are continually asked one question over and over, “What’s the market like?” Due to lower interest rates on mortgages, the real estate market is picking up.   It’s a great time to consider purchasing as opposed to renting.

Would you qualify and what might be the terms and conditions and any additional costs?     Don’t just check out one, check out all the commercial banks. Maybe one may have a little higher rate of interest, but it’s less money down. That may be worth it to you to get into your own home. What to ask about?

  • What is your current rate of interest on mortgages?
  • What percentage do you require as an earnest money deposit?
  • Is there any penalty for paying this off early?
  • What might be the longest term I could get at my age?
  • Can I use my own insurance company to insure the property once I have a mortgage?
  • Are there any fees the bank charges other than my mortgage payment that I would receive monthly?
  • Is there an approval charge for receiving a mortgage from your bank?

Make a little chart and compare each one and weigh the differences. Also, remember, ask, ask, and ask. If the mortgage officer tells you something, keep asking questions. For instance, if the officer tells you that 20% down is required, ask a question like, is there any way that you would accept less?   Keep asking questions.

Find an amortization chart on the internet like this one then put in your property price and the different rates of interest offered to see exactly what you’ll be paying monthly and even over the term of the entire loan.

When you’re ready to search for a property, browse this site !   Then reach out to us. We can help narrow your search and find your new home.

Here are a few commercial bank links here in the Bahamas to get you started in making your dream come true.

Mortgage Content

Real Estate Content


RBC Royal Bank

Family Guardian


Do You Have a Lifestyle Property?

You Might!

One of the questions your real estate agent may ask you when they list your property is; what did you like most about your house?   If you can take a minute and think about more than just the hardware of your house but really try and remember all the activities and fun that were a big part of your life in your home, you may have a lifestyle property.


What does that mean, lifestyle property? Simply, it means a property that is perfect for a way of life or living.   Traditionally, it speaks to immediate amenities. For instance, if your home were located on a golf course or by a tennis court, it would be perfect for people who enjoyed golf and tennis as a major activity in their life, year round.   Or if your home had a dock that would certainly attract people who enjoy the water and would like to have their own boat right in their back yard.

Napa Valley vineyard at sunset

However, just because you don’t have a golf course or a dock, doesn’t mean you don’t have a lifestyle property. A home with a large well-appointed kitchen and spacious dining room, or a patio and garden around a pool, or a beautiful back yard might be a home that was the sight of endless family get togethers and entertaining with neighbors and friends.    Opening your home to others and enjoying cooking and entertaining IS a lifestyle for many people. It’s what they do every weekend, holiday, and anytime they can. They get a lot of pleasure out of it, so they do it often.   That is their lifestyle, their way of living, and your home could be their dream come true.

If you’d like to list your home, call us and give us your top five likes about the life you enjoyed while in your home.   We’ll be glad to find just the right buyer who will enjoy your home as much as you did.


Wednesday Wisdom!

Here are the guidelines to a great apartment showing:

1.With reasonable notice, please make your home accessible for the agent and prospective showings.

2. A Company Agent or Assistant will be calling to:

    1. Schedule an appointment for themselves.
    2. Schedule an appointment for another agent in our Company.
    3. Schedule an appointment for another co-operating agent.

3. Prior to the appointment, open draperies, blinds, etc., turn on all of the interior lights (and exterior lights if it is after dusk), and tidy up the bedrooms, bathrooms and kitchen.

4. Vacating the home is the ideal situation for the demonstration of your property. Whenever possible, do not stay in your house with the prospective buyers during showings or, have as few people as possible in the house during showings. The potential buyers may feel like intruders in your home, rather than prospective buyers.

If you are present during showings, please stay in the background when the buyers are in your home. The agent knows the buyer’s needs and desires, and can better emphasize those features of your home when you are not present. If there are any questions, the agent will find you if you are needed.

Have confidence in our sales agents! Let him or her do their job without interference to bring negotiations to a satisfactory conclusion on your behalf.


Lease Agreement 101

An Offer To Lease is typically a legally binding contract between a Landlord and a Tenant and is the guiding document outlining the business terms between the two parties prior to the two parties executing a Lease Agreement.

Usually the Offer to Lease prevails over a Lease that has not been executed but once a Lease is executed than the provisions of the Lease then prevail over an executed Offer to Lease.

Depending on the wording of an Offer to Lease, some Landlords will allow a Tenant to have vacant possession of a premises once the Offer to Lease is executed and the security deposit is paid.

An Offer to Lease is usually a 2-3 page simple document in an effort to bind both parties more quickly in comparison to the time that it usually takes to review, amend and execute a Lease Agreement.


Ask Your Attorney About…

Congratulations! Your family has found the home of their dreams, the earnest money deposit has been paid, you and the sellers have signed the contract, and the attorneys are now working on closing.

The next time you speak with your attorney, ask him about prorations. Prorations are expenses that have been paid by the seller but now need to be divided between the buyer, as the new property owner, and the seller.  Here are a few examples of items that often come up.

Real property taxes.

If the seller has prepaid his real property tax for the year the purchase is occurring, the buyer should be reimbursing the seller for a portion of the tax the seller has prepaid.  This is usually calculated by dividing the year’s $ tax amount by 365 (the number of days in the year), and coming up with a daily dollar amount.  The buyer then would usually owe the seller the portion of the tax for the period from the day the property closed and he takes possession, to the year end.

Condominium fees.  

Often condominium associations bill quarterly in advance for the common maintenance charges.   If the seller has prepaid his fees, but the transfer of the property occurs before the end of the quarterly billing period, the buyer would normally owe the seller.

Insurance fees.

This often comes up with condominium sales as the insurance is usually prepaid on condominium exteriors and assessed separately from the common area maintenance charges.   Sellers often ask for the buyers to refund them on insurance prepaid for a period of time after the buyer assumes ownership of the property.  This usually does not occur in home ownership, as the seller cancels their policy and the home owner procures their own policy.

Prorated charges are usually determined by identifying a yearly charge for the item to be prorated and then dividing by 12 to determine a monthly charge for the item. Further, because closings often occur at random times, a daily charge can sometimes need to be identified for an item.   This is done by taking the monthly charge and dividing it by the number of days in the month.

To ensure there are no surprises, speak to your attorney about any possible items that will be prorated and appear on your closing statement.