06/01/2015
Why Hire an Israeli Real Estate lawyer to Handle Your Property Management Needs in Israel?
The reasons for hiring a lawyer who is experienced in Israeli real estate law to handle one's property management in Israel, whether in Tel Aviv, Jerusalem or Herzlia are many. Utilizing a real estate experienced lawyer and a management team is beneficial to any foreign based landlord of a property in Tel Aviv, Jerusalem or any other part of Israel for many obvious reasons. A few reasons stand out above the others especially when it comes to foreign residents who own a property in Israel and should be given consideration when looking for an Israeli property manager/management
1. The use of an experienced Israeli lawyer specializing in real estate can be vital when owning a property. Having an up to date attorney, knowledgeable in real estate laws and regulations, who is responsible for the initial drawing up of the contract, making sure the rental period is problem free and is present if the need to enforce the contract arises, is of great benefit to the property owner.
2. A lawyer specializing in real estate in Israel is a licensed professional whose professional conduct is entirely overseen by the Israel Law Bar and thus he/she must act in accordance with strict professional codes dictated by the Israel Law Bar.
3. A lawyer in Israel is always personally liable for any money relating to his work and thus can never be a "Limited "company. Thus a client can rest assure that his money is safe.
4. In Israel each city has its own rules regarding the rental of properties. For example Tel Aviv has different rules regarding the payment of municipal taxes than Jerusalem. It is therefore essential for the manager of the property whether in Tel Aviv or in Jerusalem to be aware and knowledgeable of the particular rules. Thus it is obviously a great benefit if the property management team you choose to manage your Israel property is made up of experienced Israeli real estate lawyers.
Property Management Fees:
Depending on the amount of work our fee is usually 10% of rent income per year+vat.
What Services Will an Israeli Real Estate Lawyer Provide
A real estate deal would be one of the biggest financial undertaking an individual takes.
An experienced Israeli real estate lawyer will typically provide the following services for his clients:
-find out what rights the seller has regarding the property offered-whether the rights are registered in the Israel Land Registry office/bureau ("Tabu") or at the Israel Land Administration or at the Jewish National Fund or at the Housing Company.
-find out if there is a warning note("earat hazara") at the registration office.
-find out if there is a mortgage on the property and/or a lien on it and or any problem or debts against the property.
-determine your tax liabilities before advising you whether to close a real estate deal (this has much to do with your legal status it Israel i.e.: are you an Israeli citizen, resident, permanent resident, foreign resident).
-negotiate the agreement and make sure that the contract protects your rights.
-make sure the proper documentation is filed.
-find out, as much as possible, the average market price for the property .
-in case buyer or a seller of a property is abroad a licensed lawyer can represent the client at the signing of the real estate deal.
