Tidhar Group announced that it will provide a 10-year warranty on new apartments it sells, even on areas with a required warranty period shorter than seven years. The warranty will apply to exterior wall sealing, flooring and cladding, front doors, insulation, electricity, and plumbing but not to smaller items such as intercoms.
By Dror Nir Kastel, Nadlan Center
Is this the move that will lead to increased sales? Tidhar Group announced today (Tuesday) that it will begin granting a 10-year inspection warranty to apartments sold by it. The move will accompany a campaign by actors Niv Sultan and Meir Schweitzer. Currently, the law requires an inspection period of 1 to 7 years (depending on the field) and an additional 3-year warranty period, in which the customer must prove that the contractor was negligent or did not correct the defects.
Tidhar’s offer includes a 10-year warranty, even in areas where the inspection period is shorter than seven years. The warranty is valid for the third party that purchased the apartment and veteran residents in urban renewal. The company said it negotiated with insurance companies to implement the move.
The responsibility relates to sealing exterior walls, flooring and cladding, front door doors, insulation, electricity, plumbing, and more—but not small things often associated with wear and tear, like intercoms. In addition, responsibility will be given only to projects in which the company serves as an entrepreneur, including Rothschild Tel Aviv and Bat Yam, and not to projects in which it serves as an execution contractor, except for a few small projects.
Tidhar has 7,000 apartments and 2.5 million square meters of offices under construction and finishing works. The company has entered entrepreneurship recently, with a backlog of 84 urban renewal projects, including 25,000 apartments and one million square meters of offices. It has also entered the income-producing properties field, with 350,000 square meters of income-producing real estate in cooperation with Harel, where she expects to be a significant player.
Uri Levin, CEO of Tidhar Group: “Tidhar Group continues to lead the real estate industry and set new standards for product and service. A 10-year warranty creates significant value and peace of mind for our customers. This exceptional value proposition highlights the importance of the developer and contractor in the set of considerations for purchasing an apartment – it is important who buys an apartment from”.
Gil Geva, Chairman of Tidhar Group, said: “30 years of focusing on creating value for our customers have led us time and time again to shatter paradigms and set new standards in the industry – product quality, exceptional service, delivery of apartments always on time and without exception, and strict compliance with commitments. Our new value proposition – Tidhar’s 10-year warranty – raises the bar and sets a significant new standard of exceptional value for customers. Our excellent people, unique culture, and Tidhar method are the basis for these achievements and for Tidhar to be a leading company”.
