Fees
The fee, in one line
One month’s rent per year. Everything else is set out below, including what is not covered.
One month’s rent per year
The management fee is the equivalent of one month out of the twelve collected over the year. It covers the whole service, from the first applicant to the day the keys come back.
Drafting of the contracts by the specialist law firm is included. There is no setup fee, no separate charge for marketing the property, and no billing per visit or per phone call.
Ten percent off from the third property
From the third property under management, a 10 percent reduction applies. If you hold several apartments, or manage a family portfolio, say so at the first conversation and the proposal will reflect it.
Management feeOne month’s rent per year
Worked example: a rent of 5,000 shekels a month is 60,000 shekels collected over the year. The management fee is then 5,000 shekels for the whole year.
- Rent assessment
- Photography and listing
- Tenant vetting
- Lease by the law firm
- Condition reports
- Guarantees and Shtar Chov
- Rent collection
- Charges tracked
- Repairs and claims
- Twice-yearly inspection
What is included, and what is not
| Item | In the management fee | Owner’s cost |
|---|---|---|
| Finding and vetting the tenant | Yes | |
| Lease drafted by the law firm | Yes | |
| Guarantees: deposit, guarantor, Shtar Chov | Yes | |
| Condition reports in and out | Yes | |
| Rent collection and transfer | Yes | |
| Charges tracked and reconciled | Yes | |
| Coordination of repairs and claims | Yes | |
| Twice-yearly inspection | Yes | |
| Works and repairs on the property | Yes, on a quote you approve | |
| Exceptional building levies, owner’s taxes | Yes | |
| Insurance of the structure | Yes | |
| Accounting and tax filings | Yes, through your accountant | |
| Court proceedings against a defaulting tenant | File handled | Legal costs |
Doing it yourself costs something too
Many owners compare our fee against zero, on the basis that they will handle it themselves. That is not the honest comparison.
- One month of vacancy because the listing sat untouched while you were away already costs the equivalent of a year of management.
- A deposit never actually collected, or a badly drafted Shtar Chov, costs the full amount of the damage, which nobody will reimburse.
- A water leak dealt with three weeks late turns a plumbing call-out into a ceiling replacement.
- A flight to Israel for a condition report or a contractor appointment costs money and days off.
Delegated management is not justified because it is comfortable. It is justified because, over a full year, it is rarely more expensive than doing it yourself. It is simply more predictable.
Good to know
Questions about the fee
What does management cost?
Our fee is the equivalent of one month’s rent per year. On twelve months of rent collected, one month pays for the complete management of the property.
From the third property onwards, the fee drops by 10 percent. Drafting of leases by the law firm is included, with no surcharge.
What is included in the fee?
Finding and vetting the tenant, drafting the lease and the guarantees through the law firm, condition reports in and out, rent collection and transfer, reconciliation of charges, coordination of repairs and claims, and the twice-yearly inspection.
What remains yours are the costs that belong to an owner: works, building levies and taxes payable by the owner, and insurance of the structure.
Who writes the lease, and is it really included?
Every lease is drafted and reviewed by a specialist law firm, and that work is included in the management fee. A loose lease always gets paid for later, at the exact moment you need to enforce a guarantee.
My apartment is already let. Can you take over?
Yes. We take the file as it stands: current lease, existing guarantees, tenant details, payment history. We identify what is missing, an insurance certificate or a badly drafted guarantee for instance, and put it right at the first opportunity.
Get a proposal for your property
Tell us the city, the size and the condition. You get a rent assessment and the exact management fee, with no commitment.