{"id":2073,"date":"2018-06-29T14:22:22","date_gmt":"2018-06-29T14:22:22","guid":{"rendered":"https:\/\/cantorlaw.biz\/security-for-rental-payments-in-urban-renewal-projects\/"},"modified":"2018-06-29T14:22:22","modified_gmt":"2018-06-29T14:22:22","slug":"security-for-rental-payments-in-urban-renewal-projects","status":"publish","type":"post","link":"https:\/\/cantorlaw.biz\/en\/security-for-rental-payments-in-urban-renewal-projects\/","title":{"rendered":"Security for Rental Payments in Urban Renewal Projects"},"content":{"rendered":"<p>In an urban renewal project, including evacuation and reconstruction (Pinui-Binui) or demolition and reconstruction under TAMA 38, where the owners&#8217; existing property is demolished, it is essential to secure appropriate guarantees for the payment of rental expenses during the construction period.<br \/>The preferred form of security is an autonomous bank guarantee, payable on demand, which can be realized immediately and without conditions.<br \/>The amount of the guarantee should be sufficient to ensure the payment of rent in the event that the developer or project company is unable to meet its rental obligations.<br \/>For example, in a project comprising eight apartments, where the agreed monthly rent is ILS 3,500 per apartment, the bank guarantee should total ILS 672,000. This amount is calculated on the assumption of an 18-month construction period, with an additional six months to account for possible delays.<br \/>Setting the guarantee at a lower amount exposes the apartment owners to significant financial risk. If the developer, contractor, or project company fails to fulfill its obligations, the owners may find themselves without their homes and without the rental payments needed to secure alternative accommodation during the construction period.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an urban renewal project, including evacuation and reconstruction (Pinui-Binui) or demolition and reconstruction under TAMA 38, where the owners&#8217; existing property is demolished, it is essential to secure appropriate guarantees for the payment of rental expenses during the construction period.The preferred form of security is an autonomous bank guarantee, payable on demand, which can be realized immediately and without [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[46,44],"tags":[],"class_list":["post-2073","post","type-post","status-publish","format-standard","hentry","category-latest-updates","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Security for Rental Payments in Urban Renewal Projects - \u05e7\u05e0\u05d8\u05d5\u05e8 \u05d5\u05e9\u05d5\u05ea&#039; \u05de\u05e9\u05e8\u05d3 \u05e2\u05d5\u05e8\u05db\u05d9 \u05d3\u05d9\u05df \u05d5\u05e0\u05d5\u05d8\u05e8\u05d9\u05d5\u05e0\u05d9\u05dd<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cantorlaw.biz\/en\/security-for-rental-payments-in-urban-renewal-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Security for Rental Payments in Urban Renewal Projects - \u05e7\u05e0\u05d8\u05d5\u05e8 \u05d5\u05e9\u05d5\u05ea&#039; \u05de\u05e9\u05e8\u05d3 \u05e2\u05d5\u05e8\u05db\u05d9 \u05d3\u05d9\u05df \u05d5\u05e0\u05d5\u05d8\u05e8\u05d9\u05d5\u05e0\u05d9\u05dd\" \/>\n<meta property=\"og:description\" content=\"In an urban renewal project, including evacuation and reconstruction (Pinui-Binui) or demolition and reconstruction under TAMA 38, where the owners&#8217; existing property is demolished, it is essential to secure appropriate guarantees for the payment of rental expenses during the construction period.The preferred form of security is an autonomous bank guarantee, payable on demand, which can be realized immediately and without [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cantorlaw.biz\/en\/security-for-rental-payments-in-urban-renewal-projects\/\" \/>\n<meta property=\"og:site_name\" content=\"\u05e7\u05e0\u05d8\u05d5\u05e8 \u05d5\u05e9\u05d5\u05ea&#039; 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