The real estate rental market in Israel is marked by a high level of financial turnover and at the same time, like all markets, is subject to some fluctuations. The price range here is quite wide, and the number of options is diverse.
A feature of the data of the Central Bureau of Statistics is significant discrepancies in the dynamics of rental prices in different cities of Israel and apartments and houses of different types and sizes. Those who are interested in how to find and rent an apartment in Israel should be aware that trends in rental housing in recent years have not been entirely unambiguous here. So, for example, the most expensive rent is celebrated in Tel Aviv, a city at the junction of modernity and historical past. Ramat Gan ranks second in terms of rental value among major cities, with one of the highest levels of education in the country. Jerusalem, sacred for representatives of three religions, is in third place in terms of rental prices.
Many, coming to the country for permanent residence, before buying real estate, want to figure out how to find and rent an apartment in Israel, and this makes some sense. Renting not only allows you to get to know a particular area better before finally settling there, but also gives you the opportunity to leisurely consider other, possibly more suitable options.
When deciding to rent an apartment in Israel, you should study the rates for similar objects and evaluate the economic rationale of a long-term agreement. One of the useful tools is the rent ratio, that is, the ratio of the purchase price of an apartment to the annual rent.
Finding an apartment for rent in Israel
Suitable options can be found both in print publications and in Internet databases and real estate agencies. So, for example, The Jerusalem Post offers ads for renting apartments in Israel in English, French and Hebrew. Especially useful for foreign residents, of course, are online resources in various languages. Experienced realtors know everything about how to find and rent an apartment in Israel in accordance with the client’s needs and the estimated budget.
Apartment rental agreement in Israel
An agreement that clearly defines the rights and obligations of the landlord and tenant in Israel can be concluded for one year, but the parties may also agree on a different period. The tenant should receive a paper copy of the identity document and landlord information. The person who leases the real estate must have the right to do so, that is, be the legal owner of the property.
The contract specifies the amount of rent and payment terms, which are usually in shekels. At the same time, you can negotiate rent in dollars or euros with some homeowners. Utility bills, routine maintenance and council tax are not included in the rental price. The property owner usually pays for anything that adds value to the property, as well as home insurance premiums. All this must be spelled out in the contract, including the address of the apartment, the names of the tenant and the landlord, the responsibility of the parties, as well as the amount of the security deposit, which can be kept by a lawyer during the entire rental period. The homeowner has the right to demand that all the clauses of the lease be met, but the final form of the guarantee is negotiable.
By law, homeowners cannot claim a rent guarantee for more than three months. Collateral can only be used if the rent is not paid on time, or in the event of any damage to the property.
Features of renting an apartment
After a potential tenant has figured out how to find and rent an apartment in Israel and has decided on a suitable option, he should take a picture of the entire room, electricity and water meter readings, communications, windows, doors, blinds, tiles, appliances and furniture. It should be noted that most apartments in Israel are rented unfurnished. All agreed furnishings are included in the contract. All devices mentioned in the contract must be in proper working order. Gardens, storage rooms and parking spaces must also be written into the contract, as well as the possibility of making any cosmetic changes such as painting the walls, installing additional shelves, etc. For those who want to know how to find and rent an apartment in Israel, it will be useful to know that there are two ways of measuring apartments by landlords: gross and net. The first includes wardrobes and corridors, the second – the main rooms, that is, bedrooms, living room. The net does not include the kitchen and bathrooms.
It is important to document the possibility of extending or shortening the lease, including the notice period. And, in conclusion, one more firm rule: the rent for an apartment in Israel should always be paid using a check or bank transfer, so that the fact of payment is officially confirmed.