MANAGING YOUR ISRAELI HOME
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Real Estate must be managed, either by you, or someone who is a professional at it, and must be paid.
For this discussion, we using one of my children’s condos in Zichron Yaakov. It is a compact studio efficiency, only 1 room and a complete bath. It has a terrace with a view of the Mediterranean, and plenty of parking nearby.
The cost today, December 2019, is $100,000 ($350,000 shekels.)
We rent it out for 1,900 shekels per month.
Example of a 350,000 shekel property I rent out
Rent Per Month
1900
COSTS:
Homeowner Assoc Fee
429
Real Estate Tax
163
Insurance
85
Repairs (est. 10%)
190
Management Fee
333
Total Expenses
1,200
Shekels/Mo.
Net Income
700
Shekels/Mo.