Q&A
Although tenants have certain protections, the sector is essentially different and solutions offered in Europe should not be relied on here.
Yes, the tourist can rent it or leave it empty, albeit this choice has tax and cost repercussions.
No, only an Israeli resident can act as broker and engage in this field, pursuant to having a valid license.
An advocate in Israel oversees real estate sales and purchase transactions, draws up the agreements, including rentals agreements. Israeli notaries primarily authenticate (documents, signatures, translations, wills, etc.). Both Adv. Zajfman and Kornitzer are both veteran advocates and notaries, as is standard in Israel.
In general, equity repairs (such a pipes, ducts, elevators, electricity, air conditioning, reasonable wear and tear) are made by the landlord.
Any income tax to be paid on rent, including residential, and tourists, if any, depends on the sum of the rent: there is a tax-exempt threshold with a possible fixed reduced tax (10%) or real tax; but possible implications of property rental should be considered with regards to the sum of the betterment tax from the sale of the property in the future.
That depends on the number of apartments, on the sum of the rent, on the owners’ status…
Yes, any foreign currency is possible. The recommendation is to maintain a bank account in Israel to receive the rent and to make any necessary payments.
Of course, although sales / purchase transactions as well as rental transactions will generally require a translation into Hebrew, with costs.
Subject to Israeli laws regarding signature verification, you do not have to appear in Israel and the action can be carried out through a power of attorney but for several documents, the customer must sign in person before the Israeli consul overseas, a notary overseas or in certain cases, before an Israeli notary who visits overseas.
Israeli law largely allows an advocate to represent both parties in a real estate transaction but this is not recommended due to an inherent conflict of interests in a real estate transaction involving management and maintenance of my apartment.
D-REM offers three plans with monthly work hour quota for the property that can be selected by the client based on their needs. Every package includes additional benefits based on the selected option. If the customer has over three properties that need to be managed, a plan can be created based on their specific needs. Interested in more information? Contact us here.
As part of the hours in the selected plan, D-REM will ensure management of all of the property’s requirements, from handling maintenance or other problems in the property to working with the tenant in the property to filling refrigerators, cleaning and airing the apartment, prior to your arrival.
No. D-REM clients however can benefit from a referral to select brokerage services that are meticulously selected at special prices and that offer reliable, fair and generous services in a variety of languages.
No, but as D-REM clients, you can benefit from a referral to select interior design services at special prices that offer reliable, fair and generous service in a variety of languages.
As part of the D-REM plans, clients can receive legal services related to the property IN HOUSE (or management or rental) based on the selected plan. If necessary, other legal services can be obtained from the law firm of Zajfman-Kornitzer & Co. by way of referral from D-REM.
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