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Things to do and know before signing a rental agreement – These are the items you should insure are included in the contract.
A. In Israel, the Real Estate Broker cannot be involved in the contract in any way. Thus, we strongly recommend consultation with an attorney before signing the agreement. contact us
B. “Apartment status protocol” – List of defects (recommended to be part of the contract).
C. Maintenance of the apartment- Who is Liable for repairing defects and damages in an apartment?
In general, damages or defaults related to the apartment’s utilities and infrastructure, such as the hot water system, electricity, plumbing etc. are in the owner’s responsibility.
What is ”normal wear and tear”– Normal and acceptable use of the apartment or any defect in the property caused by reasonable and normal use.
Unreasonable use- damage caused by the tenant – negligently or intentionally are in the tenant’s responsibility.
Within what timeframe should damages be fixed?
Normal damages – within 30 days of tenant’s notice.
Urgent damages – within 3 days of tenant’s notice.
D. Ways to terminate a lease and/or an option to extend the lease. contact us
Am I allowed to leave the apartment before the end of the contract? If so, how should I do it?
* Find a suitable alternative tenant
E. The requested guarantees by the owner
a. Promissory note– (“Shtar hov”)
A promissory note is a legal document, a kind of check, which is your obligation to pay the amount stated therein if the lease agreement was violated by you. Most recommended option for tenants.
Recommended amount: up to half of the annual rent.
b. Bank Guarantee. The fee paid to the bank is about 5% of the guarantee amount (each year it is paid again at renewal)
Recommended amount: up to 3 months of rent (By law). Negotiable
c. Cash Deposit– A sum of money in cash, which will be deposited by the owner of the apartment at the time of signing the contract. Keep a proof of the deposit.
Recommended amount: up to 3 months of rent (By law). Negotiable
d. Security checks- similar to a promissory note.
Used to secure payments for electricity, water etc.
Remember to add “For security only” (!)
e. Guarantors– Very common- landlord may demand your guarantors to provide wage slips. contact us
f. In what cases can the landlord collect the collateral?
Failure to pay rental fees on time
Non-payment of the additional payments (Electricity, Arnona, water etc.)
Failure to repair defects in the property due to the tenant’s conduct or in the event that the tenant did not leave the apartment on time.
The landlord must inform the tenant of his intention to collect the collateral.
F. Do you need insurance for your rented Apartment?
Who’s responsible to insure what?
a. Third party Insurance- Tenant’s responsibility.
b. Building insurance- Owner’s responsibility.
c. Contents insurance –Tenant’s responsibility contact us