Some of the services to expect from your lawyer include drafting of tenancy / lease agreements, negotiation of rent, eviction disputes, disputes related to non compliance with the terms of the agreement as well as advice, mediation and legal representation if your tenant does not pay their rent.
When Does Rent Become Payable, and In What Currency?
The rent that your tenant should pay should be clearly drafted by your lawyer in the rental agreement. There should also be a schedule of payment, which could be monthly, every quarter, every six months or even one year. While rent in Israel is commonly paid in shekels, some expatriate tenants may insist on a quote in US dollars. In this case, you will need to get the advice of your lawyer whether to accept payment in US dollars or the equivalent in shekels. Either way, it should be clearly indicated in your agreement.
About Rent Increases
One thing you need to keep in mind is that, unless the lease agreement gives you the right, it is illegal to increase the rent during the term of the contract. If you would like to reserve the right to increase the rent, your lawyer will add a clause that gives you the option to renew the contract.
Often, any rent increases you make will be by a pre-determined percentage although – if agreed with your tenant in advance – an increase could be by a set amount. For this reason, it is essential to have a property lawyer draw up your contract, since an ‘off-the-shelf’ document may not give you the option to increase the rent. Remember to protect your rights at all times.
