While your lawyer will certainly advise you, there are several important facts that property owners have learnt from experience to which you should pay particular attention.
- There should be certainty as to the period covered by the lease as well as the period and rental of any option you grant in terms of the lease.
- Very often, tenants ask for the right to terminate the lease early to be inserted which should be avoided at all costs as this negates the purpose of the lease. Most tenants wouldn't want you as the landlord to include a clause giving you the right to termination before the end of the lease period.
- The amount of the rental as well as the payment periods, monthly, quarterly or even annually, must be clearly stated. The number of new immigrants renting apartments also means that payment might be offered in a foreign currency and it's advisable to specify a shekel amount to avoid losses from currency fluctuations.
- There should always be a clearly written understanding of responsibilities with regard to repair and maintenance of the apartment.
- The payment of a security deposit, called key money in many countries, covers you in respect of any damages you might find when the tenant moves out. Make sure the amount of key money is a reasonable amount to protect you.
While all these factors are very important, the most important is to make use of the services of a lawyer in whom you can place your trust, to look after your best interests.
