The Governmental Authority for Urban Renewal will publish next week a guide for entrepreneurs that will become a useful tool for promoting projects in optimal cooperation with tenants.
The full document has reached the "Real Estate Today" system and reveals several important tips on the subject. So how do you do it right? Below is an exposure of the Ten Commandments:
1. Prior to the first signing of an agreement, it is mandatory to hold a conference and publish a proposal document for all property owners.
2. Complete organization and transaction agreements must be drafted in accordance with the requirements of the Urban Renewal Law (agreements for the organization of transactions) and the Construction Evacuation Law (encouraging construction evacuation projects).
3. It is advisable to hire the services of a professional social consultant to accompany the tenants from the beginning of the process to the occupancy of the new buildings.
4. A social report must be prepared that will serve as a basis for accompanying the residents from the beginning of the renewal process, in accordance with the guidelines of the governmental authority for urban renewal.
5. It is important to act to build a building and complex tenant representation that will lead the processes on behalf of the property owners.
6. The transfers to the property owners will be determined in an equitable, transparent and fair manner.
7. The property owners must choose a lawyer and an engineering inspector to represent them, who will have relevant experience.
8. It is important to hold tenant conferences and meetings (including public housing tenants) to make decisions, regularly and before significant decision points.
9. It should be pointed out to the residents and the representative office the possibility of obtaining objective information from the local administration for renewal, as well as contacting the tenant inquiries officer at the government authority for urban renewal.
10. It is important to translate all the documents or their essence into different languages and make them accessible, if there are property owners who do not know how to read Hebrew.
Elazar Bamberger, CEO of the Government Authority for Urban Renewal:
"Correct activity of the developer with the apartment owners, and adherence to the required social moves, have been proven to greatly improve the chances of success of the Pinoy Binoy project.
The guide is the result of experience accumulated in many projects, reflects the latest legislation, and makes accessible in a clear and simple manner the main steps required by the developer vis-à-vis the tenants, for the benefit of all partners in the life of the project."
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