Couples Stuck in USA - Rent on Israeli Apartments

[ari3]

There's a huge attitute problem amongst the young couples in Israel.

Most them are young kids, freshly married spoiled brats from well to do homes.

Israel to them is a "Camp". They sign $2,000-$3,000 leases while having 0 income (daddy pays).

They don't understand what a utility bill is, they can't wrap their immature heads around the concepts of Vaad Baayit or Arnona.

They treat it like a game. Which landlord can they screw next. I started vetting more and more but noticed that even the uber-rich don't care.

To them it's not an apartment, it's a honeymoon suite. Well if I can play games with Hotels I'm entitles to same here too, no?

There is a yid whose name is well know in the world, a level wealth on the richlist, probably the wealthiest chareidi family on earth (not American. Way wealthier than Scheiner Rechnitz etc).

His grandkids take apartments in Jerusalem by flashing the brand name. Tachlis, the rents do not get paid and you can't talk to any Dayan because no-one can go against these guys.

I think this might belong in the wedding thread, but sending off kids to Israel needs to way regulated past Corona.

/end rant

I'm a manager for an family office CRE company, I help manage the luxury assets in the Jerusalem Chareidi submarket, due to background with this clientele.  I am not a broker and don't see why a broker would care about this. Most apartments are in the new development's that have sprung up in the past few years in the northern neighborhoods. A few are in Rechavia. A full 50% of these clients are not committed to honoring exact lease terms and agreements. They sublease for Sukkos even though we don't allow, and a whole host of other issues regarding damages when the leave the apartments.

You are renting out ultra expensive luxury apartments that are obviously targeting the ultra rich. You then go and badmouth most of the young couples in EY as being spoiled brats and dishonest. I suppose most couples are honest and responsible. You choose to deal with that segment because you want their money yet you are complaining when you get caught in the strings that are attached to that money.

[YesThatsMe]

You should rent me one I have an Israeli passport

For you, with pleasure!

[ExGingi]

For you, with pleasure!

What about an expired Palestinian passport? I think my uncle might have one.

[YesThatsMe]

You are renting out ultra expensive luxury apartments that are obviously targeting the ultra rich. You then go and badmouth most of the young couples in EY as being spoiled brats and dishonest. I suppose most couples are honest and responsible. You choose to deal with that segment because you want their money yet you are complaining when you get caught in the strings that are attached to that money.

That's one way of looking at it, ok. Maybe it just shows that run of mill people who rent in older buildings and neighborhoods are more erlich, while those who feel the burning need to live in the new Arzei yet get greedy on Sukkos rents are a bunch of spoiled brats who think they'll get a way with it because "The Baal Dira won't find out".
Puhlease.

[ExGingi]

Incorrect again. You need to apply to be allowed in. And if atleast one of them isn't Israeli, they are not letting.

So are you saying that my FIL who has lived in Israel for over 60 years and is on a resident visa, wouldn't be allowed back in if he would have come to the US for Pesach? 

[YesThatsMe]

Hence

And those are just like the high APR charged to subprime borrowers. It compensates for the risk and the personalities of 50% of your renters. Some people would rather take lower rental income and have solid tenants, while others would rather take the high rents and deal with turnover, tenants that disregard lease terms, etc.

The rental payments aren't the issue in general (until now). Its more about breaking terms, giving proper notice,  subletting,  ignoring Arnona, demanding furniture and fixtures, cleaning, leaving junk, etc "being bratty and feeling entitled"

[YesThatsMe]

So are you saying that my FIL who has lived in Israel for over 60 years and is on a resident visa, wouldn't be allowed back in if he would have come to the US for Pesach? 

That's not a student Visa. I assume he would have a A1 visa and yes he can back (to a quarantine hotel)

[chevron]

You are renting out ultra expensive luxury apartments that are obviously targeting the ultra rich. You then go and badmouth most of the young couples in EY as being spoiled brats and dishonest. I suppose most couples are honest and responsible. You choose to deal with that segment because you want their money yet you are complaining when you get caught in the strings that are attached to that money.

I understand how he feels.

A lot of people go to Israel and think things are different there.

As for @ExGingi  statement on loss margins, he specifically stated that people sublet sukkot etc against least agreement.

Imagine if they just themselves were renting these out for chag?

Arnona, vaad bayit, gichon (water) internet, chevrat hachshmal etc

If the renters are paying in USA, enter a lease agreement that reports non payment to relevant credit bureaus.

[ExGingi]

The rental payments aren't the issue in general (until now). Its more about breaking terms, giving proper notice,  subletting,  ignoring Arnona, demanding furniture and fixtures etc "being bratty and feeling entitled"

I didn't mention rent payments. I wrote turnover and disregard of lease terms.

We have solid tenants in my mother's apartment paying below market rent, so that we don't have to deal with such issues. We also didn't take an off the shelf template lease, but rather made sure it is legally AND Halachicaly valid, and went through the wording carefully to make sure it suits our situation of an apartment with no-one local to manage it.

[chevron]

So are you saying that my FIL who has lived in Israel for over 60 years and is on a resident visa, wouldn't be allowed back in if he would have come to the US for Pesach? 

I can tell you first-handed a good friend of mine just flew back to Israel because a family member there was sick.

He got permission, he has an apartment to self quarintine.

He flew chol hamoed, at ntbg they tried to deport him. Finally after an hour they sent him to quarantine hotel.

He was locked away for rest of moed, acharon, Shabbat and finally Sunday transported to home quarantine (after a covid19 test)

I don't know how things are now but I highly doubt they are going to put in any non-residents

[YesThatsMe]

I didn't mention rent payments. I wrote turnover and disregard of lease terms.

We have solid tenants in my mother's apartment paying below market rent, so that we don't have to deal with such issues. We also didn't take an off the shelf template lease, but rather made sure it is legally AND Halachicaly valid, and went through the wording carefully to make sure it suits our situation of an apartment with no-one local to manage it.

So our situation is different has we do have a local staff who manage the units. These are investment properties,  what matters is ROI. And I don't think that renting below market would attract better tenants,  actually we are not as aggressive as other mom and pops are and we have near 100 occupancy all times. Sukkos and Pesach are big months, usually half of the units are in a turn and the rents are amazing.

[ExGingi]

So our situation is different has we do have a local staff who manage the units. These are investment properties,  what matters is ROI. And I don't think that renting below market would attract better tenants,  actually we are not as aggressive as other mom and pops are and we have near 100 occupancy all times. Sukkos and Pesach are big months, usually half of the units are in a turn and the rents are amazing.

Indeed. You're running what sounds like a profitable business.

The things you are complaining about just seem to be part of that business (just like shrinkage is for retail stores with lots of traffic).

[ilherman]

Actually I have no clue what you are asking me. Who told me what?

You posted false info so he wanted to know where you picked it up... For next time don't just assume.

@ExGingi, even visa residents can't officially enter. Though you can always apply to the embassy they have a form and some times they make acceptions on case by case basis.

[ExGingi]

You posted false info so he wanted to know where you picked it up... For next time don't just assume.

@ExGingi, even visa residents can't officially enter. Though you can always apply to the embassy they have a form and some times they make acceptions on case by case basis.

Maybe there are temporary residents and permanent residents? My FIL isn't an Israeli citizen, so he can't vote, but otherwise he lives and paid taxes and is now collecting his bituach leumi retirement benefits just like any Israeli.

[yaakov35]

So are you saying that my FIL who has lived in Israel for over 60 years and is on a resident visa, wouldn't be allowed back in if he would have come to the US for Pesach? 

Entry into Israel is permitted to any citizen or resident of Israel, but they are obliged to be isolated upon their arrival from abroad.
All foreign nationals are denied entry to Israel.
In exceptional cases, one may apply for approval of the Foreign Ministry subject to proof of the ability to remain in home isolation for 14 days upon arrival in Israel.

[ExGingi]

Entry into Israel is permitted to any citizen or resident of Israel, but they are obliged to be isolated upon their arrival from abroad.
All foreign nationals are denied entry to Israel.
In exceptional cases, one may apply for approval of the Foreign Ministry subject to proof of the ability to remain in home isolation for 14 days upon arrival in Israel.

By specifying citizen OR resident, it is clear that said resident isn't an Israeli national. So that is contradictory to the next line that says ALL foreign nationals.

I don't think it's an issue. I think (permanent) residents (think green card holders in the US) would be allowed in.

[YesThatsMe]

By specifying citizen OR resident, it is clear that said resident isn't an Israeli national. So that is contradictory to the next line that says ALL foreign nationals.

I don't think it's an issue. I think (permanent) residents (think green card holders in the US) would be allowed in.

Correct.  But not students.

[ckmk47]

The rental payments aren't the issue in general (until now). Its more about breaking terms, giving proper notice,  subletting,  ignoring Arnona, demanding furniture and fixtures, cleaning, leaving junk, etc "being bratty and feeling entitled"

Perhaps you can put specific penalties into the lease for each type of infraction.

[Baglach]

The rental payments aren't the issue in general (until now). Its more about breaking terms, giving proper notice,  subletting,  ignoring Arnona, demanding furniture and fixtures, cleaning, leaving junk, etc "being bratty and feeling entitled"

They feel entitled because they pay a premium obviously that's not a reason to breach a contract. But honestly your whole attitude stinks of a bratty broker (or manager how you call it) you come here to bash everyone based on some issues you have, many people live in Israel on a tight budget, pay all bills and care for the apartments they live in, you go on to say that daddy is paying anyway which has nothing to do with Israel as 90% of our communities are some what supported especially at the beginning.

[hocker]

He can keep them, and sell them to cover his rent.

That's what I'm doing to the 3 morons who pulled this on me.

Says who?