Tuesday, October 1, 2019

Distressed properties rental assistance program idea gaining momentum

Broker Mario Carey: ‘Golden opportunity’ for entrepreneurs, jobs and boost to economy

By Natario McKenzie

NASSAU, BAHAMAS- An initiative that uses foreclosed properties to meet housing needs for displaced families in the wake of monstrous Category 5 Hurricane Dorian is gaining “incredible momentum”, according to real estate broker Mario Carey.
“We had a group of high net worth individuals on the island this week for a private event hosted by Bahamian businessmen,” Carey said.

“When we mentioned the idea of taking unoccupied residential properties, either single or multi-residential, and converting them into short-term rentals at a reduced rate to provide some form of normalcy for families who lost everything during the storm, every single member of that group of the super successful said they would like to be part of it.

“They recognized it as social entrepreneurship,” he said.

Carey, the founder of the first international franchise of the globally recognized Better Homes and Gardens Real Estate brand, proposes preparing an inventory of all distressed properties in New Providence and populated Family Islands that could support additional children in classrooms or would have the requisite medical facilities available in special cases.  Read more >>