This is for all you homeowners dreaming of enhancing the value of your apartment without spending a dime (or a shekel). We will manage the whole Tama 38 process – including the structure strengthening and the additions to the building – while you take in the profits.
TMA 38 (“Tochnit Mitar Artzit 38” – The Israeli National Planning Guidelines for Seismic Strengthening of buildings) allows for homeowners to contact entrepreneurs who in return for strengthening the structure are granted additional building rights (usually adding stories) in the building.
We manage several Tama 38 projects and advise in others while maintaining continuous contact with the residents regarding the planning and construction processes. The Tama 38 Projects we lead usually include installing an elevator, exterior renovation of the building and the building lobby, adding parking spaces or a balcony, and adding a residential secure space room (“mamad”) to each apartment at no charge to the tenants.
Upon the completion of the tama 38 renovation, the building will be reinforced against possible earthquakes and property values will increase by 15 to 30 percent. This usually means additional tens of thousands of dollars of value to each apartment!.