Managing Several Jerusalem Properties Through One Provider

What changes when you own more than one property?

With one apartment, an owner can often keep track of the lease, the repairs and the paperwork personally. With two, three or more, the details multiply: several tenants, several lease end dates, several sets of building contacts and a steady stream of small decisions. Using different managers for different apartments adds a further layer of calls, formats and fee structures.

What are the benefits of one provider?

• One point of contact. You deal with one team that knows all your properties.
• Consistent processes. Tenant screening, lease administration, condition records and repair approvals follow the same standard everywhere.
• Comparable reporting. Statements in the same format make it easier to see which property is performing well and which needs attention.
• Coordinated maintenance. Tradespeople and repairs can be coordinated across properties, and work between tenancies scheduled in advance.
• Portfolio planning. Lease end dates can be staggered where possible so several apartments are not empty at once, and renovations can be phased one property at a time.

What are the risks, and how do you manage them?

• Dependence on one company. Make sure the agreement has clear termination terms, and that leases, guarantees and key documents are kept in a form you can access.
• Capacity and coverage. Confirm the provider works in each of the neighborhoods where your properties are, and has enough people to give each property proper attention.
• Mixed-up accounts. Insist on a separate statement for each property, as well as any combined summary.
• Different properties, different needs. A furnished apartment in a new building and an unfurnished apartment in an older stone building need different maintenance and different tenant marketing. One provider should still treat them individually.

What should you ask a provider managing several properties?

• Will I receive separate statements for each property and a combined overview?
• Will I have the same contact for all my properties?
• How are fees structured across several properties? The answer depends on the number, type and condition of the properties and the scope of service.
• How are leases, guarantees and documents organized, and can I see them?
• Can you plan lease renewals to avoid several vacancies at once?
• Do you cover all the neighborhoods where my properties are?

How do you keep a portfolio organized?

Keep a file for each property containing ownership documents, the current lease, the tenant’s security documents, insurance, the arnona (municipal property tax) account, va’ad bayit (building committee) contacts and appliance warranties.

Keep one calendar of key dates across all properties: lease end and notice dates, guarantee expiry dates, insurance renewals and seasonal maintenance.

Review each property once a year: its condition, its rent compared with similar properties, planned work and anything that could not wait another year.

What about ownership structures and tax?

Owners with several properties often have questions about how rental income is reported, how the properties are held and how each is financed. These depend on your personal circumstances and can have significant consequences. A property manager can provide clear records for each property, but decisions on tax, ownership structure and financing should be made with a qualified accountant and lawyer.

How JTown Management handles this

With more than 60 properties under management, many of our owners have more than one property with us. Each owner has one dependable local point of contact across all their properties, and each property receives its own statement and its own condition record at move-in and move-out.

When a tenant reports a problem at any of the properties, we respond first and go to look ourselves, bringing in our regular tradespeople when a professional is needed. We make sure every tenant keeps up with arnona, water, electricity, gas and va’ad bayit payments, help owners plan lease renewals and renovations over time, and keep the documents for each property organized so they are easy to hand to your accountant or lawyer.

Next step

See how our property management service supports owners with several properties, including owners based overseas, then Request a Property Assessment for your portfolio.