Maintaining Properties Even During Lockdown

Creative Estates’ Property Management team has not stopped taking care of properties all over Israel during the first or second corona virus lock-down. Here are some of the real estate issues we have been dealing with this past summer.

“For us, it’s business as usual. Tenants and property owners know that they can call on us and we will be there for them”, explains CEO Shaun Isaacson. “We are still busy checking properties, finding new tenants, organizing contracts and carrying out repairs. The hardest aspect of our work at this time is taking potential tenants to view properties. People understandably don’t want to meet inside apartments or spend too long in someone else’s living space. We are careful to follow government guidelines, and we have managed to maintain our record of 100% rentals even during lockdown.”

Helping Tenants

Erev Rosh Hashanah this year was a Friday, and it also marked the start of Israel’s second official lock-down period. Shaun took a call from tenants in an apartment in Netanya whose air conditioning system was not working. The temperature that day was 31°C (87°F) and the heatwave was set to continue for the two days of the festival. While all the stores were closing down and the police were preparing to close the roads to traffic on Friday morning, we managed to send one of our air-con engineers to the apartment. Fortunately he was able to fix the problem on the spot, and our tenants were able to enjoy a cool and happy start to the New Year.

Careful tenants can often save their landlords significant amounts of money just by noticing problems. In one apartment that we manage in Ra’anana, the residents spotted that the opposite side of the wall of their bathroom was damp. They called us quickly, and we brought in a water detection specialist to look into the problem. It turned out that there was a leak in a bathroom pipe within the wall. Had it gone unnoticed, it could have caused significant damage not only to that apartment but also potentially to all the apartments below. Creative Estates ensures that all apartments have good insurance policies to cover such events, and we arranged for the insurance company to send their assessor. He approved the work of opening the wall to fix the leak, closing it up again and painting the wall. Within one week, with minimal inconvenience for the tenants and minimal expense for the owner, the problem was resolved.

Helping Overseas Owners

Many of our overseas home owners have been unable to visit Israel during 2020. One such client has a holiday home in Herzliya that has been sitting empty all year, and we check it regularly. They asked us to renegotiate their contracts with their pool cleaning and gardening companies for the next few months. We were able to reduce their maintenance expenses by approximately 50%. We are currently offering a free property check service to any overseas property owner.

This summer, another overseas client inherited an apartment in Tel Aviv that had not been lived in for four years. There was an inch of dust on the floors! He asked us to fix it up at minimal cost, so that it could be rented out in a livable state. We sent our team to clean it thoroughly and to upgrade the old bathrooms to modern standards. Within 2 months of receiving his instructions, we had found tenants for the apartment. Their rental payments were covering the upgrade costs, as well as giving the owners an income!

Creative Estates has joined the nationwide Israel Property Network group, expert estate agents helping people around the world to buy and sell real estate in Israel. They also rent, lease and manage short term rentals for some of our properties. So, if you have a property in Israel, or if you are thinking of investing in one, contact us today for a free consultation about managing it as a holiday home or and renting it out for you.

Forging a New Partnership

When my friend Sabrina Ziff invited me to join her Israel Property Network, I was flattered and excited by the opportunities that it offers for the growth and development of Creative Estates Israel.

I was flattered because Sabrina and her colleagues recognize the expertise that Creative Estates Israel has developed in the complex field of property management in Israel, which includes not only the management of long-term rental (investment) properties, but also home maintenance and management services for overseas owners who own a property in Israel and choose not to rent it out.

I am excited because teaming up with the Israel Property Network expands our horizons even further throughout Israel. IPN has 14 regional hubs around the country, including 4 walk-in realtor offices, and employs 20 real estate professionals who really know their stuff. Creative Estates can now benefit from their local expertise, and consult with them on behalf of our clients who are considering investing in Israeli real estate.

Sabrina Ziff has nearly three decades of real estate experience in the UK, Europe and Israel. She has built her network of licensed realtors and support staff to provide professional help to English-speaking clients with real estate purchase and sales, short term and long term rentals, new-build real estate projects, and land purchase for residential and commercial purposes. Their understanding of the Israeli real estate market is second to none, and they share our commitment to high quality personal service. The Israel Property Network is respected throughout the Jewish world, with particularly strong connections in the United States, the UK and South Africa.

That is why being chosen by IPN as their partner of choice for property management is a huge compliment. Sabrina and I expect that many more people will be looking to move to Israel in the coming months and years, and this collaboration allows each of us to focus on our core business, knowing that we can rely on each other’s expertise to give the best possible service to both domestic and overseas property owners and new Olim.

Living in the shadow of the coronavirus is difficult for everyone, with the uncertainty and economic challenges that we are all experiencing. Forging a new partnership at this time is a way of focusing our commitment to help people in the best way that we can. At Creative Estates Israel, that means protecting our clients’ assets while they cannot visit Israel, and ensuring that those who rent out their properties continue to receive the best possible return on their Israel investment property.

Stay safe everyone!

Creative Estates and the Israel Property Network Join Forces

Creative Estates Israel and Israel Property Network are excited to announce their collaboration on the management, purchase and rental of properties all over Israel.

The new partnership between the Israel Property Network and Creative Estates Israel was born out of a natural synergy and a long-standing friendship between the company CEOs. Both companies are headquartered in Ra’anana and are active in Israel’s national real estate market. Both employ licensed professionals and have many years of experience. Both serve Israeli and international clients, who expect  – and receive – high standards of customer service and reliability.

Creative Estates Israel was founded by Sam Turecki in 1984. CEO Shaun Isaacson, who is a qualified Advocate (LLB), Licensed Realtor and M.B.A., learned the business from Sam and took over the company in 2013. He has built up the business and expanded its portfolio of managed properties throughout Israel, providing the most comprehensive and reliable property management service to owners based both in Israel and overseas.

Founded by Sabrina Ziff, who has nearly three decades of real estate experience in the UK, Europe and Israel, the Israel Property Network brings together independent estate agents serving cities and communities throughout Israel. Licensed realtors and support staff in the Israel Property Network’s 14 offices provide professional assistance with sales, rentals, holiday home management, new-build real estate projects and land purchase for residential and commercial purposes. They also offer special services for Olim – immigrants to Israel – and investors.

Sabrina Ziff, CEO of the Israel Property Network, says: “Shaun and his team manage a large portfolio of residential and commercial properties across Israel, and we admire their professionalism and responsiveness. They were our first choice of partner to help our clients with the management of their properties, because they have expertise with long-term tenancies, holiday homes and holiday rentals. We expect that many more people will be looking to move to Israel in the coming months, and this collaboration allows us to focus on our core business of helping property investors and Olim to find the properties in Israel that best suit to their needs.” 

Shaun Isaacson, CEO of Creative Estates Israel, welcomes the collaboration. “Sabrina heads a growing national network of real estate offices, staffed by professional agents who really know their local markets. Joining forces with the Israel Property Network connects us with an independent national company that is known and respected throughout the Jewish world, with particularly strong connections in the United States, the UK and South Africa. By allowing us to take responsibility for the property management side, Sabrina and her colleagues are freed up to continue expanding their business, while still providing the highly-personalized service that their clients expect.”

Find out more at www.IsraelPropertyNetwork.com

Business as Usual in Unusual Times

People have been asking me about the state of Israel’s real estate market and how we have been affected by the COVID-19 pandemic.

It is clearly too early to tell what the longer term impact will be on Israel’s economy, on the demand for housing for the projected wave of immigration, or on the housing market. Our government is only a few weeks old, and the new housing minister – Yaakov Litzman from the United Torah Judaism party – has yet to announce his intentions. It could be said that, during the past year, the absence of a government has actually left the Israeli real estate market to flourish without interference!

COPING WITH COVID-19

Like all businesses around the world, we have had to adapt our business practices to cope with the restrictions of social distancing and hygiene. We have been wearing face coverings and gloves when visiting clients’ properties and meeting with tenants. During the lock-down, we were categorized as one of the necessary services that people could call on if they had problems with property maintenance. We did deal with several emergency call-outs in Ra’anana, Herzliya, Haifa and Netanya, to mention just a few. We have also been checking empty properties for landlords who are stranded overseas and cannot visit Israel at the moment.

We have extended our offer of free property checks to overseas property owners who are not clients of Creative Estates Israel, and will continue to do so for as long as people are reluctant to travel.

ISRAEL’S RENTAL MARKET

We manage a number of homes that are usually occupied during the peak Pesach season and during the summer vacation. Many visitors from outside Israel have sadly had to cancel their visits during 2020. In Tel Aviv and Jerusalem, where there are an estimated 30,000 short-term rental properties, 2,000 properties were taken off the tourist market (through AirBnB and similar platforms) and advertised for rent on the local market, which caused a temporary dip in short-term rental prices.

The Bank of Israel reported a fall of 15% in rents during the lock-down period, but this did not affect the overall upward trend. Between March 2019 and March 2020, rental prices in Israel rose by an average of 2.3%, and by the end of April activity in the rental market returned to pre-lock-down levels. In the metropolitan area of Tel Aviv average rents have risen between 8 – 10% over the past three years.

RETURNS ON INVESTMENT

Real estate market experts point out that past government policies to discourage property investment may have contributed to an upward pressure on rents. This is because 27% of Israeli households live in rented homes, and the proportion of apartments bought by investors for rental has fallen from 30% to 13% of purchases. This has contributed to a shortage in the supply of long-term rental properties, while plans to expand the housing stock and encourage renters to buy their own homes have been slow and ineffective.

During this difficult economic period, we fully expected to receive requests from tenants in the properties we manage to accept delayed rental payments. However, I am happy to report that only one of our tenants asked to pay late, and they were actually able to pay their rent in full, so none of our landlords were affected by rent delays. It probably helps that we are careful in selecting tenants for our properties and prefer to set up direct payments with them.

We understand that in other countries the situation has been difficult for landlords, where non-payment of rent has jeopardized the security of their investments and their ability to cover mortgage payments, but in Israel the rental market has remained robust. With talk of a wave of 50,000 new immigrants forecast for the coming year, we are optimistic that Israel remains a prime market for real estate buy-to-let investment.

We look forward to welcoming our overseas landlords back to Israel very soon, and we wish our friends and clients in Israel and around the world a healthy summer. Stay safe!!

Beware Unscrupulous Agents!

Foreign owners of Israeli properties are being ripped off by unscrupulous real estate agents and negligent managers. Don’t be a fryer! !

Shaun Isaacson, CEO of Creative Estates Israel, has noticed that some overseas Israel property owners are being charged higher than normal agency and legal fees by unscrupulous agents. Because they are far removed from the Israeli market, they do not realize that these charges are extortionate.

In Israel, the standard agent’s fee for a property purchase is 2% of the sale value, or less, but certainly not the 5% commission that foreign buyers are sometimes charged. Overseas owners should also check carefully that the agent who wants to help them buy property in Israel is actually a licensed realtor and not relying on a friend’s property license.

Having invested in a property in Israel, it is important to protect your investment by hiring an experienced property manager. If your property is poorly maintained, or if the mortgage is not paid because the tenant defaults on their rent payments, owners can find themselves in a real mess. Property managers should report regularly to the owner about all income and expenditure associated with the property, as well as reporting to the Israeli tax office if their rental income is above the reporting threshold.

“Many property managers are inexperienced and incompetent, or worse”, says Shaun. “I know of owners who have been prosecuted because their negligent managers did not issue receipts to tenants and did not keep proper financial records. Sometimes tenants withhold their rental payments for several months because of something that could have been easily fixed.”

Shaun is not only a licensed realtor and experienced property manager, but also a qualified Israeli lawyer. He is only too aware of the different tricks that unscrupulous real estate agents and managers play on absent landlords. Unnecessary repairs are common, and adding kick-backs when hiring friends to work on properties they manage. That is why Shaun recommends getting references from other property owners – ideally those who live in Israel and know what is happening with their apartments.

Creative Estates manages properties all over Israel worth 350 million NIS and delivers monthly reports to each client. They have a team of maintenance staff to carry out regular and emergency repairs, which keeps costs down for the owner.

Landlords should ensure that their property is insured and, in case of a leak or other accidental damage, you need to pursue your claim aggressively to make sure that the insurers pay out. “It is very difficult for someone who lives thousands of miles away to manage their own property in such a situation. The well-meaning friend who agreed to manage your property for you would find themselves out of their depth if something went really wrong.”

In Israel, the term ‘fryer’ means someone who is easily taken advantage of, and it seems that some foreign landlords are treated as ‘fryers’ by unscrupulous Israeli agents. So don’t be a ‘fryer’!

Heating Homes in Israel

When heating rental properties in Israel during the winter, safety and cost efficiency are the clear priorities for all landlords, tenants and property managers.

Israel’s winter season is short but can get very cold, particularly since homes are built to stay cool and are not insulated to stay warm!

As experts in managing properties in Israel, at Creative Estates we are conscious of the need to provide heating and cooling for the rental homes that we manage. Today it is recognized as potentially dangerous to use bar heaters which can easily catch fire, so we make sure that tenants are using safe radiators and making appropriate use of the heating systems that exist.

Standard Israeli Heating Systems

Air conditioning systems are widely used for heating in the winter, particularly in Central Israel where winters are generally mild. They are cost effective and only require slight modification of the vent direction between summer and winter use.

Hot water supplies in most Israeli homes are generated by solar energy, with solar panels and hot water storage tanks on the roofs of most buildings. In the winter, the lack of sun can leave tenants without sufficient hot water, so most homes have secondary hot water systems. These can be powered by electricity or gas, and usually include timer systems so that tenants can program them to provide hot water at the times they want to take showers.

Installing New Heating Systems

When updating properties and considering heating options, we usually recommend that property owners switch to gas, which has become much cheaper than other fuels in recent years, and particularly since Israel discovered and started to use its own offshore gas reserves.

Installing underfloor heating is a popular facility to add when a property is renovated, because it is necessary to take up the floor tiles in order to lay hot water pipes. This is particularly worthwhile in Jerusalem and other towns where the temperatures frequently drop to freezing.

Safety First

While tenants prefer to keep doors and windows closed when heating their home, it is important that heating and hot water systems have sufficient ventilation systems for safety. Where heaters are powered by gas, rooms must be well ventilated so that poisonous and toxic fumes can escape. It is also highly recommended to install smoke alarms and even carbon monoxide alarms near such heaters.

If you are a landlord and you would like advice on the most cost-effective and safe way to heat rental properties in Israel, contact Shaun Isaacson at Creative Estates Israel.

Israel Housing Prices: Reviewing the Past Decade

Housing prices in Israel have risen by a national average of 47% over the past decade, with apartments in some cities appreciating by 78% over 9 years. How can potential investors take advantage of this trend?

According to a study by the property resale website Yad 2 (shown below), the prices of 4-room apartments throughout Israel have increased in almost every city since 2011. 2011 was the year of the street protests over the price of housing and cottage cheese. In response, the government of the day promised to implement measures to increase building projects and create more affordable accommodation.

In an attempt to help first time buyers, it was suggested that some homes would be marketed with 0% VAT. The only effect of this suggestion was to temporarily suppress the demand for housing during 2014-2015, while potential purchasers decided to wait for this discount to come into effect. When it failed to materialize, the build-up of demand was released and caused a spike in house prices in 2016.

The next policy suggestion was an increase in the purchase tax for purchasers of multiple properties, and while this was being discussed it caused a flurry of property purchase among investors rushing to beat the tax. Political horse-trading prevented the government from introducing this investment tax.

Planning and building new housing projects inevitably takes time, and Israel has a constantly increasing population, so demand continues to outstrip supply. With low wage inflation over the past several years, people who cannot afford to buy in the popular central cities of Israel have been buying lower-cost properties in cities like Ramle, Lod and Bat Yam. As a result, the house prices in these areas have increased more dramatically over the past 10 years than in more expensive cities like Tel Aviv, Netanya and Herzliya.

Property management and investment expert Shaun Isaacson explains: “Investment in transport infrastructure, connecting the central conurbations with the periphery of the country, is helping to expand the commuter belt and making more distant suburbs more popular. That is why we see the housing market gradually flattening out in the coming years, with a smaller differential between previously cheaper and more expensive cities.”

In Lod, a 4-room apartment that sold in 2011 for 856,000 would now cost 1,520,000 NIS – a staggering 78% increase. In neighbouring Ramle, prices have risen by 68% from 996,000 to 1,674,000 in 2019. At the same time, comparable apartment prices in Ra’anana have risen by only 27% over the same period, from a starting price of 1,777,000 to 2,260,000 NIS.

“While Anglo investors typically choose the cities that they know personally, it is often more lucrative to invest in lesser known and cheaper locations, where prices are rising faster. This price list is a snapshot of one aspect of the Israeli real estate market, but we have a much deeper understanding of which areas are most profitable for buy-to-rent investors, and we are happy to advise.”

You can contact Shaun Isaacson at Creative Estates Israel in complete confidence, to discuss profitable investments and property management in Israel.

Yad2 Property Price Survey

Is Real Estate Still the Best Investment?

Nineteenth century billionaire Andrew Carnegie famously said “Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.” Is this still true, and does it apply to real estate investment in Israel?

The Rational Behind Real Estate Investment

The data suggests that millionaires still make more money from owning property than any other investment, because real estate consistently increases in value over time and outperforms other investments. The wealthiest people collect property portfolios the way they used to collect cars!

While other businesses may come and go, people will always need homes, and the need for housing generally increases year after year. There’s an inherent demand for real estate, because land can be used for so many different purposes, whether commercial or residential. Many people use real estate as a way of protecting their wealth against market fluctuations. Although the real estate market can go down as well as up, the overall value is always increasing, never decreasing.

Real estate is a real asset – it is tangible. It is also not as vulnerable to fluctuations as the stock market, which is subject to many factors outside your control. Unlike many equity investments, including banks and blue-chip companies, brick-and-mortar investments are unlikely to disappear overnight, Real estate is also flexible – if it appreciates you can sell it, and if the market is flat you can rent it out or live in it yourself. Property can be refinanced, redeveloped, and even repurposed if the market changes.

Today, cash kept in a bank is effectively depreciating, because interest rates are below the rate of inflation. This means that money is cheap to borrow, and many people take out bank loans to invest in real estate.

The Reality of Real Estate Investment in Israel

In Israel, it is not so easy to raise mortgage finance as it is in the U.S. and other easy-credit economies. Generally, banks in Israel will insist that the purchaser puts up at least 40% of the purchase price before taking a mortgage for the remaining 60%, and they often require proof of income.

The safest properties for investment in Israel are generally family-size apartments or homes in upscale locations that are always in demand. They provide a consistent cash flow and there will always be a steady supply of good tenants. Israel’s increasing demographics – through high birth rates across most sectors – are all good signals for investing in family homes. The same may not be true in other countries, where divorce rates and the fashion to remain single are favoring smaller property sizes.

Israel is a small country with an expanding population, high marriage and birth rates, and a constant flow of Olim (new immigrants). There are also many political and economic obstacles to releasing more land for development. This means that, despite government attempts to increase the supply of new homes, demand continues to outstrip supply. High property prices in Israel, that make it difficult for young people to rent, have created a strong rental market with good and steady rates of return.

Investing in real estate does not generally yield quick returns, but it’s the best option for long-term investment. At Creative Estates we recommend investing in residential or commercial properties that produce rental income year-round, and making sure that your investment is well managed so you don’t incur unexpected costs that can reduce your profitability.

Talk to Shaun Isaacson of Creative Estates Israel about the best real estate investment options currently available in Israel. Contact us today.

Preparing Your Israeli Property for Rain

With the rainy season about to start, here are our top ten tips for preventing any floods, leaks or pipe bursts in your Israel property this winter.

Israeli homes are really designed for the summer, which is generally three times longer than the winter season. Most houses and apartments are built with stone floors, poor insulation and minimal drainage systems, unsuited to coping with sudden rainstorms and even snow in some parts of the country.

At Creative Estates Israel, we have many years of experience in managing holiday homes and rental properties and pre-empting winter crises. From experience we know that all properties, whether tenanted or empty, should always be thoroughly checked at the start of the winter to ensure that they are weather-proof. Here is our checklist.

1) Cleaning Gutters and Drains

Before the first rainfall of the season, make sure that water cannot collect in places where it may cause flooding inside your property, such as window ledges, door sills and air conditioner pipes. Ask your upstairs neighbours to do the same, so that you do not find water leaking through your ceiling from their balcony. Your building manager (Va’ad Bayit) should also clear leaves and garbage from the drains and walkways around the entrances to the building, to prevent flooding and slipping accidents.

2) Checking for Leaks and Cracks

Water can seep through the smallest cracks and will always find the weakest points through which to escape, often causing leaks or dampness in the walls. You may be able to see the marks of damp or mold on the walls or ceilings showing where last winter’s leaks occurred. Persistent dampness during the winter months can cause allergies and breathing difficulties, as well as damaging furniture, furnishings and the building structure. Landlords are expected to protect their properties against leaks and dampness, and they may be held liable for damages caused to their neighbors if they fail to do so.

3) Water Heating Systems

Most residents and tenants only turn on their supplementary electric water heater when the weather turns cloudy and cold. If it has been unused during the summer, it is sensible to check your water heating system before you turn it on for the first time. Boiler systems may be used to power radiators as well as providing a supply of hot water, so you should have both functions checked. Lives can be saved by removing bird’s nests and other blockages from flues, because if the ventilation system is blocked when the boiler is turned on you might cause carbon monoxide poisoning. When calling a maintenance engineer, remember that Israeli boiler systems are known collectively as ‘Yunkers’, named after the original Israeli manufacturer.

4) Central Heating Systems

In apartment buildings, the central heating may be centrally controlled by the management committee, with fixed dates for turning them on and off. Individual apartments may have supplementary air conditioning units or other electric room heaters.

5) Positioning Room Heaters

Put safety first when positioning and using electric room heaters. Keep them out of reach of children and make sure that soft furnishings – curtains, cushions, mattresses and clothes – cannot fall onto them and cause a fire.

6) Adjusting Air Conditioning Units

Many people choose to use wall-mounted air-conditioning units for heating during the summer. If so, it is crucial to adjust the vents so that they point downwards to send warm air circulating around the room. Otherwise the upwards setting that you use for cold air in the summer will just heat your ceiling! Remember to clean the filters too.

7) Adding Window Insulation

Israeli homes have very little insulation, so precious heat can be lost through windows and walls. It may help to check that your trissim (window blinds) close tightly and do not rattle in the wind. Hanging curtains and putting draught-excluders along cracks in walls and under doors can keep help to keep the cold outside and the heat inside.

8) Preparing for Power Cuts

It’s not unusual for the power to go out at any time, so it’s good to prepare emergency back-up systems such as alternative power supplies for important appliances like freezers and computers, emergency lights for stair wells, and supplies of candles and matches. In some areas it is advisable to keep a kerosene heater or other non-electric heating source to keep you warm during extended power outages.

9) Protecting Water Pipes

If your home is in an area where the pipes may freeze, we recommend leaving a tap dripping slowly during very cold periods, to prevent pipe bursts. It’s a good idea to disconnect outdoor watering systems during the winter, to save water and to protect the pipes and connectors from damage.

10) Checking on Empty Properties

If there are empty properties in your building that are not taken care of, all the above problems can spread from their apartment to yours. Leaking pipes that go undetected can cause long-term water damage in other parts of the building. If you know that your neighbours are going away for the winter, recommend that they get a property company to check on their home.

Creative Estates Israel manages properties all over central Israel and we send our maintenance teams to every property to check that everything is ready for winter and stays water-tight. To speak to Creative Estates about checking and managing your property in Israel, contact Shaun@CEIsrael.com

Making Emotional and Intelligent Investment Decisions

Real estate in Israel can be an emotional as well as an intellectual investment decision. Many Jewish families around the world choose to buy a home in Israel, as a holiday home, with a view to retiring here, or so that their children can make Aliyah, or even “just in case”. Managed well, it can also be a profitable venture.

Owning a property in Israel is a sensible long-term investment, particularly when it is rented out to quality long-term tenants. Creative Estates manages a portfolio of diverse properties throughout Israel’s central region, from Haifa to Bat Yam. Our clients appreciate that we take care of their home as if it was our own, shouldering both the financial and the physical responsibilities.

From finding and vetting tenants and negotiating the rental contract, to managing contractors and liaising with the building management committee and insurance companies, our legal expertise is particularly helpful. We understand overseas investors’ tax liability and ensure that income and property taxes are paid on time. Insurance, utilities bills, rent collection and banking are carefully managed, and we submit monthly reports charting the return on your investment.

Saving you Money and Sparing you Headaches

As a professional property manager with many years’ experience, I am frequently asked whether the benefits of hiring me outweigh my costs. The short answer is yes:  My clients tell me that I save them money and headaches, because property management in Israel is more complex and time-consuming that they realized!

The real value of a property manager comes when something goes wrong. A burst water pipe in the building – typically on a Friday afternoon – is our problem not yours. We have a team of contractors standing ready to make emergency repairs, and we have experience in dealing with insurance claims to ensure that all the costs are covered. We’re here to protect your investment, and that includes organizing regular inspections of your property to ensure that it is well-maintained and weatherproof.

A good property manager knows how to keep your tenants happy and how to find new tenants when they leave, to ensure that your property is never sitting empty. As a native South African who has lived in Israel for most of my life, I know how to manage local contractors, and how to negotiate rental contracts and insurance policies to protect your interests. As a lawyer, I am familiar with regulations regarding rentals, landlords’ and tenants’ legal rights and obligations. Together with my maintenance team, I also manage holiday homes for many of our clients, keeping their beach-front properties in tip-top condition and getting everything ready for their vacation visits.

Spotting the Best Investment Opportunities

At Creative Estates, we stay up to date with all the latest real estate projects around Central Israel, so we can advise you on the best locations to buy properties. Buying properties off-plan in new developments can increase the return on your investment, but they require careful scrutiny throughout the construction process. With new train lines currently under construction throughout the region, we can tell you about the neighborhoods that will soon become prime commuter communities with excellent rental potential. Creative Estates can also help you to rent or sell your existing property in Israel, working with the top local agents and getting you the best possible price.

Shaun Isaacson is a qualified Israeli Lawyer, MBA and Real Estate Agent, and CEO of Creative Estates Israel. You can contact him in complete confidence for investment advice or a price quote for managing your Israel property at shaun@CEIsrael.com