The Electronic Rental Services Network recorded a notable increase in the percentage of residential rental contracts benefiting from the monthly payment feature, with the percentage exceeding 32% by the end of August 2020.
Ejar program, affiliated with the Ministry of Housing, announced the authentication of approximately 110,000 rental contracts during the month of August, diversified between residential and commercial contracts, noting a rise in commercial contracts that utilize the monthly payment feature.
The program confirmed in its statement that the continuous growth in contract authentication and utilization of the network’s services and features continues to progress, driven by increasing awareness among the parties involved in rental transactions (landlord, tenant, real estate broker) of the importance of authenticating rental contracts through the Ejar network, in addition to the range of features and services available on the network that meet the needs of all parties, including flexible payment options and multiple payment channels, flexible contracting periods, renewal methods, diverse party obligations, verified reliability in documenting financial rights between parties, adoption of the network by entities that require a rental contract or proof of residence and now use it to verify rental agreements, as well as a comprehensive package of electronic services provided by the network, including electronic contracting, archiving, alerts, notifications, and many other qualitative features.
The program emphasized that these achievements were not possible without the confidence of rental transaction parties (landlord, tenant, real estate broker) and their ongoing contributions of suggestions and feedback, which have significantly enhanced the features and services of the Electronic Rental Services Network. It also highlighted that new horizons of strategic partnerships have been established to further organize the real estate rental sector, preserve the rights of all parties, streamline the rental process, strengthen trust in the sector, and stimulate investment.
It is worth noting that Ejar has recently launched several services and features designed to complete rental procedures and transactions between all parties remotely, thereby serving beneficiaries and keeping pace with current requirements, including the contract re-conclusion service, which enables parties to renew expired contracts or those approaching expiration, the payment grace service, which allows tenants to request postponement of rental payments, and the flexible payments service, which allows dividing rental payments into unequal installments, in addition to other solutions that the Electronic Rental Services Network continues to introduce regularly.