Saudi to cut out cheques through online rental payments

By July 30, 2018News

Saudi Arabia has launched an online rental payment feature on its’ Ejar platform.

The new service allows tenants to pay their landlords digitally; monthly, quarterly or on an annual schedule rather than using the outdated system of post-dated cheques.

Transactions made through the portal are valid proof of payment and protect both parties in the case of dispute.

To use the system, the tenant must have an account with the Ejar rental services network. The network was designed to reduce disputes and simplify proceedings for landlords, tenants and agents through a unified rental contract.

The system is expected to be registered for over 2.5 million properties. The registration fee is SAR 250 ($67) for residential rental contracts and SAR 400 ($107) for commercial rental contracts.