Congratulations. You’ve bought an apartment in Israel. You now have a great investment. What are you planning to do with it? You basically have 3 options:

• Rent it out

• Leave it empty and live in it whenever you visit Israel

• Short term rental/Airbnb

 

Let’s take a look at the pros and cons of each option:

 

Rent it out

Pros

• This will bring in a steady monthly passive income. Good money with little work. What could be better!

• The income should cover much if not all of any mortgage and accommodation costs whenever you visit Israel

Cons

• You cannot stay in your home and you will need accommodation whenever you visit Israel

 

Live in it whenever you come to Israel

Pros

• What could be better than living in your own home in Israel

• You can leave clothing in the apartment, travel lightly

• You can entertain friends in your own Israeli home.

Cons

• You will be responsible for all costs, eg. Arnona, Vaad Bayit, water, electricity, gas, phone etc

• You will have to clear the apartment of all perishable items when you leave

• You may have to leave dirty linen, towels etc. in the apartment. You will return to a dirty apartment upon return

• Hiring a cleaner before every time you return, as well as letting them into the apartment, can be challenging

• If you apartment has a problem, eg, flooding, a leak from the apartment above etc, you will discover this surprise when arrive after a long journey. Trying to fix upon arrival can ruin your vacation as well as be expensive

 

Short term rental/Airbnb

Pros

• It is a middle ground option that allows you to cover the costs of the apartment and have some pocket money, while still being stay in your home in Israel whenever you visit

Cons

• It’s a lot of work:

o   Advertising

o   Constantly finding new tenants

o   Cleaning the apartment between tenants

o   Giving them the key

o   Getting the key back

o   Checking for breakages

o   And many more

• There are tax issues here which the Israeli tax authorities are very strict about

 

Why should consider using a Property Manager?

 

Israel Properties here to provide you with any assistance you may need. Our services include:

1. Finding you good tenants

2. Making a rental contract with your tenants

3. Ensuring your tenants pay the rent every month

4. Ensuring your tenants have transfer all utilities (electricity, gas, water, phone) as well as the local tax (Arnona) into their names. Should these utilities remain in your name (or the previous tenants), it would make pursuing any non-payments from them when they leave more difficult

5. We will also ensure that your tenants are paying the Vaad Bayit fees, requesting copies of the receipts

6. We will regularly check the apartment to see that your tenants are looking after the property

7. Ensuring your tenants leave the property in good condition, fulfilling their legal requirements, when they vacate it.

8. Dealing with any problems, e.g. plumbing, electrical, damp, etc. should they arise. We will send in appropriate workmen and ensure they do a good job.  Note, some problems such as a leak from the apartment above, may be the responsibility of a third party, i.e. the owners of the apartment above or the Vaad Bayit, if it is a communal problem. They may be unaware of the problem and be unwilling to fix it as it does not affect them. We will ensure they fulfil their legal requirements.

9. We will handle all other general maintenance of your apartments, eg, broken slats, rodent control.

10. We will represent you on the Vaad Bayit and will make sure your interests are looked after when decisions are needed for the common areas.

11. At times your property may be vacant, in between tenants. We will ensure that your bills are paid and that you do not accrue interest charges and fines for late payment.

 

How we can help you?

We are your representative here in Israel. You will not have to deal with stress of a leaky roof, a flooded toilet, a broken triss or worse. We will assess the issue for you. We will deal with the workmen.

 

We will protect your investment.

 

Contact us today.