Understanding security deposits and guarantees

Landlords want protection in case of unpaid rent or damage. In Israel, this usually means a deposit, a guarantee, or both. COMMON FORMS • Cash deposit: Held by the landlord. • Post-dated checks: A check you give that the landlord holds as security. They deposit it only if there is a problem. • Promissory note (shtar hov): A signed document promising payment. • Guarantor (arev): An Israeli resident who promises to pay if you do not. • Bank guarantee: A document from your bank that guarantees payment. WHAT THE LAW SAYS Israel's fair rental law limits how much a landlord can require as security. The limits are tied to the amount of rent and the length of the lease. Check the current rules or ask someone who knows. TIPS • Ask the landlord to put the security terms in writing. • Take photos of the apartment at move-in and move-out to prevent disputes. • When you leave, ask for the return of your deposit or checks and a signed letter confirming it. • Foreign students often cannot find a guarantor. Ask your school if they can help, or if a bank guarantee is accepted. WATCH OUT FOR Do not hand over blank checks or sign a note you do not understand.