Mold, broken a/c in the heat of summer, increasing the monthly rent at the end of the lease, refusing to repair defects….the list of horrors that renters in Israel endure is lengthy indeed.
Yesterday, the Knesset approved a much needed amendment to the Israeli rental law (Law of Rental and Borrowing), in its first reading. The bill still needs to be approved in a second and third reading, before it is passed into law.
The amendment addresses much needed regulation in the Israeli rental market and touches on these subjects:
-Essential elements of contract such as the names of the owner/renter, ID numbers and legal description of the apartment (Block and Parcel Number)
-Owner’s obligations to repair certain defects in the apartment
– Maximum guarantee amount that owner may take (between 3 – 6 months rent depending on whether it is a bank guarantee or security check)
Stay tuned for the final version of the law…