Most of the owners of assets will not object to the advantages of an NOP 38 plan, because in such a case they are not required to invest money and they get in return a more spacious apartment and accommodation in a strengthened building that suits the modern standard of living. And yet there is “a fly in the ointment” because all the benefits that are mentioned above lose their value once you take into consideration the fact that the success of the project depends on its execution schedule, which sometimes can take a long time. A lot of importance is given in such projects to the choosing of a reliable, experienced and licensed contractor who has the proper classification according to the size of the building. The outmost importance in the advancement of an NOP 38 plan it that it will be done without any delays or postponements.
NOP 38 – What is it?
Probably you heard more than once the term NOP (National Outline Plan) 38, but obviously you are not familiar with its professional and legal details. Today, the construction in Israel adheres to the strict standard regarding the safety and stability of the building. However, older buildings in which many citizens live do not always meet those standards. Here is where NOP 38 enters the picture, and it designates the buildings that were built before 1980 for a strengthening program.
The purpose of the plan is to strengthen the building against possible earthquakes. The strengthening is done, inter alia, by adding protected areas to the apartments. Moreover, the tenants also receive building additions that improve their assets, like sun terraces, storages and personal parking spaces. It is obvious that there are no free gifts, and in return the tenants are required to allow the contractor who is executing this project to build more apartments that he will be able to sell. That way, the contractor can cover his expenses and profit from the project he is executing.
The Advancement of an NOP 38 Plan- The First Step: the Tenants
The plan is stipulated upon a lot of approvals and permits. However, the most significant approval is given by the tenants themselves. The homeowner association convenes a meeting of the building’s tenants and it raises before them the possibility of executing an NOP 38 plan. Alongside the tenants who grab this chance, there are always those who object due to various reasons. It needs to be mentioned that you don’t have to reach an approval of 100% of the tenants, and an approval of only 2/3 of the apartment owners in the building will suffice.
What needs to be checked before the advancement of the plan?
When you mention in NOP 38 plans the term advancement you mostly refer to the tenants’ desire to motivate the plan, while the final goal is that eventually they will be able to enjoy a higher quality of life. However, pay attention: it is more important that you too, as tenants, will adjust your expectations to those of the contractor/entrepreneur and be aware of your rights and to what the contractor/entrepreneur is willing to give to you:
- You need to check who is the contractor, did he perform similar projects, and how much is he experienced. You also need to check if the contractor has a classification according to the law that matches the scope of the project.
- Does the contractor have performance guarantees/bank guaranties?
- It is recommended to request to visit in projects that the contractor recently completed and to talk with the tenants of the building about the process.
- Ask to know what building additions you are entitled to: parking spaces, storages, service areas, balconies, an elevator and etc.
- Check if the renovation also includes the renovation of the mail room/the trash room and the lobby.
- Request of the contractor a technical specification for the building itself, for the elevator and for the finishing materials.
- Ask to know what are the estimated schedules for the commencement, execution and completion of the project?.
- Be assisted by a consultation service on your behalf so your interests will be kept throughout the entire process until its completion.
Hand in Hand with you to the New Apartment
Your residential apartment is the asset where most of your funds are invested. Therefore, it is important that it will be handled by the experts in the field. We are highly skilled in all the aspects that surround the processes of urban renewal, while providing a top-notch and experienced municipal consultation.
We are happy to grant a variety of services, which include: an initiation and advancement of the project while significantly shorten the timetables for receiving the approvals.
Address us the moment before you too will get a nice addition to your apartment (and that way you will also enjoy the rise in the asset’s value)!.
Eventually, we believe that you will be able to also enjoy the process itself and not just the final result in the form of a new apartment.
Our office has more than 20 years of experience in the field of construction and urban renewal and it has the credibility mark of Dun & Bradstreet Israel.
We will be happy to escort you, to answer all your questions and to consult you in every aspect of a project of urban renewal.
