Time to Raise Your Rent?

Property owners living overseas may be losing money if they are not increasing their rents in line with the market, says Shaun Isaacson of Creative Estates Israel.

Home rental payments rose throughout Israel by an average of 1.8% between the 3rd and 4th quarters of 2013, with a 2.5% increase in the Tel Aviv area and a 2.4% increase in the Sharon area. If this trend continues, we could be looking at a 10% annual increase in rents in Israel’s most popular central areas.

Israel property owners who live overseas and manage their own properties may not be aware of Israel’s fast-moving market trends. They may be missing out on important opportunities to maximize the earning potential of their properties in Israel. For example, since the start of 2014, there have been new regulations that allow municipalities to tax the owners of empty properties.

At Creative Estates we take care of each property that we manage as if it was our own. We are always looking out for the interests of its property-owning clients, by keeping up-to-date with market trends, new development projects and changes in the law. Our experience in property investment and management is combined with our experience of Israeli law, tax and accounting requirements.

If your property manager is not advising you to raise your rents, then they are not proactively representing your interests. Call Shaun Isaacson at Creative Estates today for an in-confidence consultation to ensure that you are charging a realistic rent on your property and making the most of your Israeli real estate investment.