Points to consider before signing that contract on the apartment of your dreams!
We all know that moving into a new apartment, let alone a new country, can be a hassle that involves a whole lot of bureaucratic procedures and obstacles along the way. After dealing with the Ministry of Immigrant Absorption and sorting out your immigration papers, the next step in adjusting is finding a place to live.
But what do you do when you don’t speak the language, and have to deal with rental agreements that are overwhelmingly long and just don’t make any sense?
Here are a few questions or factors to consider before you make the big move and officially sign that lease on your dream home.
1. → Price of Monthly Rent
Keep in mind that the price of monthly rent typically excludes the price of all the utilities (electricity, water, gas, building maintenance fee). Sometimes, extra features like the cost of a parking spot or furniture that comes with the property might demand an additional fee. So if you thought you found your dream apartment for a price of 6500 NIS, make sure to ask all the necessary questions about what the price includes. On some rare occasions you will come across a price that is all inclusive of utilities – this is usually common for apartments that are fully furnished and come with all the electronic appliances.
2. → Length of Rental Agreement
Another factor to consider before signing is the length of the agreement. How long is the period of your lease? When does it begin and end? Do you have the option for an additional year if you choose to extend the lease? And if so, will the price remain the same in that optional year? Typically, when signing on an optional year, tenants should take into consideration that the price of rent will most likely be increased anywhere from 2-5% according to the annual price index. Make sure to check these points with your potential landlord, and consult with a lawyer.
3. → Renter’s Insurance Fees
On top of some overwhelming demands, some Israeli landlords require the tenant to pay renter’s insurance. This is one crucial factor to make a note of when reviewing a lease, and is one that should be discussed with a lawyer. Some people find themselves in a position where they agree to sign on insurance, but don’t understand what it fully entails.
Whether you consult with friends or family, it’s always good to send the contract to people you trust in order to make the process easier. The best would be to resort to a lawyer who understands the legal terminology and can assist and advise you in the best possible way.
For a list of more questions and points to consider upon signing a lease, make sure to check out the link.
Stay tuned for more updates!