Vocabulary for Property in Israel

Key fees
Key fees are any consideration received for residence that is not rent, given for renting a rented apartment or in connection with receiving possession or returning possession of a rented apartment. After paying the key fee, the tenant continues to pay a reduced rent (the key fee is not a substitute for the rent). In exchange for paying part of the value of the property, the tenant receives a permanent right to live in the property for the rest of his life, as long as he meets his obligations. The amount of the key fee will usually be between 1/3 and 1/2 of the property's market value.