Do you know how much your property in Israel is earning every month? What rents are being collected and what costs are being incurred? Money management is a key element of the CEI property management service.
Creative Estates Property Management in Israel offers monthly updates to every property owner, providing real-time information on the return on their investment. Shaun Isaacson, CEO of Creative Estates Israel, keeps methodical records and provides monthly updates on every financial transaction for each property that they manage. Investors can monitor the electricity bills, bank charges, building committee fees, municipal taxes and insurance policy costs for their property. They can check that the rental payments have been received – often crucial when mortgage payments are due – and monitor the management costs and other expenses that they are paying.
Monitoring expenses can be particularly crucial when a tenant leaves a property and Creative Estates advertises for new tenants and signs a new letting contract. Advertising and legal costs are kept to a minimum to ensure that the change of tenancy does not damage the profitability of the apartment.
“Our goal is to keep every property fully tenanted so as not to miss a single month’s rent”, explains Shaun. “We look for high-quality tenants who can be relied upon to pay their rent on time, give proper securities and to keep the property clean and in good condition. At the same time, whenever we have a vacancy, we make it our priority to advertise in the right places and interview potential candidates quickly. We provide real-time updates to our clients so that they can see that their income stream is steady and reliable.”
Shaun Isaacson not only has an MBA business qualification, but he is also a qualified Israeli lawyer, so he takes care of the rental contracts and all legal matters for his clients. This saves on legal expenses and speeds up the process of signing new tenants. It also means that he can advise his clients on any legal issues that arise with the building committee, local income tax rules, and any other aspect of real estate legislation.
Simon J. from London is one of Shaun’s long-standing clients. He says: “I have had pleasant business dealings with Shaun as managing agent for my apartment since April 2013. As a lawyer, he was able to answer my questions on tax immediately and satisfactorily, he sends me regular updates, and always helps me save money where I can.”