Renting out real estate properties in Israel can help you maximize your profit from your real estate investment. If you’re investing in real estate in Israel with an eye to renting out your property, there are several things to bear in mind:
- Rental income in Israel is taxable in a variety of ways, so you will need to be in touch with an accountant to determine what you should do in your specific situation.
- Rental properties need to be insured to cover damages to the property and third party liability.
- You need to be clear about the period of the lease, when it ends and how it can be renewed, if at all.
- Proper securities should be in place in the event that the tenant does not uphold his end of the contract.
- Your rental contract should include clauses to facilitate a quicker eviction in the event of a court case to oust the tenant.
- in 2017 major revisions were made to the rental law. It is important to become aware of the changes in the law.
- It is important to have someone manage or at least look after the property for you in case you are not able to do this yourself.
If you’re considering renting out real estate in Israel, be in touch with our offices. We can help you work out a rental contract which best protects your interests. In addition we can also put you in touch with excellent property managers who will take care of your property if you are abroad.