Properties for rent in Israel
Rent a flat in Israel with Ready Property. In recent years, the renting market in Israel has experienced an increase in demand. Due to high real estate prices, young families cannot afford to buy even a cheap apartment, so they have no other choice but to rent.
The main demand is recorded mostly in Gush Dan, a conurbation that includes areas from both the Tel Aviv and the Central Districts of Israel. It is the business, cultural, and economic centre of the country.
According to the new regulation, the party intending to purchase services should pay the agent’s commission. It is possible to find a flat without an agent but if you want to rent an apartment in Gush Dan, you should search for it in advance due to a high demand, preferably with help from a professional agent.
Sometimes, property owners do not meet their tenants during the entire tenancy period. Instead, property owners pay agents to deal with tenants on their behalf.
Since there are many families who cannot buy an apartment, the rental market continues to grow.
General Stages of Residential Property Rent:
- choosing an agent;
- finding a property;
- arranging a viewing;
- receiving an offer;
- accepting an offer;
- signing a tenancy agreement.
- deposit payment.
A Procedure of Cooperation between a Landlord and an Agent:
- Real estate search on the web and social media.
- Communication with a real estate agency concerning certain houses or flats.
- Viewing. If potential tenants like a particular property, an offer is made to the landlord.
- A real estate agent informs the landlord about the offer.
- Once the landlord accepts the offer, the agent informs potential tenants about it.
- Then, future tenants pay a deposit, and the property gets delisted. A deposit also serves as a safety net if the tenants damage the property or refuse to pay rent in the future. This matter is covered below.
- The agent gathers the documents and information needed to sign a tenancy agreement:
1. ID data of the potential tenants;
2. Documents that prove employment and a certain level of wages. Depending on the landlord, one or two guarantors may be required. Instead, there are other guarantee options like a bank`s check.
- The client signs a tenancy agreement that should contain the following:
1. Rental period. Do not forget to include a break clause in your agreement that will allow you to avoid fees if you decide to terminate the agreement;
2. Options for prolongation of the agreement.
3. Number of people intending to live in the property;
4. Specify whether you need furniture or not. Possible options: unfurnished, partially
furnished, or fully furnished (a serviced apartment);
- If necessary, a real estate agent explains how to pay utility bills. However, it
should be specified in the agreement who pays those bills – a tenant or the landlord.
However, commercial property rent differs with its own specifics.
Ready Property is an experienced real estate agency. We will help you rent, buy, let, or sell both newbuilt and secondary property. For more details, please contact our office.