Service Overview

In line with the requirements of the Real Estate Brokerage Law which mandates holding the tenant’s security deposit with the Authority or its designated entity until the property is returned without damage the service enables the automatic reservation of the deposit amount from the tenant’s e-wallet upon contract documentation.
The deposit is securely held by Ejar as a neutral party.
Upon contract termination or cancellation, the system relies on the mutually approved property Move-in/Move-out form to automatically refund any due amounts to both parties as available balance in their respective e-wallets.

Objectives

• Regulating the rental process and establishing effective governance mechanisms.
• Protecting the rights of all parties and reinforcing transparency and trust.
• Streamlining rental procedures and ensuring electronic documentation.
• Reducing disputes related to the property security deposit.

Key Benefits

1. Secure holding of the security deposit within the Ejar system.
2. Enabling deduction of damage-related costs for the landlord or refunding the tenant upon mutual agreement.
3. Reliance on the Move-in/Move-out form for refund processing and deposit settlement.

How the Service Works

Real Estate Broker

When the broker registers the contract and enters the security deposit value, a notification appears requiring the tenant to pay the deposit amount from their Ejar e-wallet, in accordance with the Real Estate Brokerage Law.

Tenant

Before approving the contract, the tenant must top-up their e-wallet (if the balance is insufficient). The system will automatically reserve the security deposit amount, after which the tenant may proceed to approve the contract.

Ejar

After both parties approve the contract and it is documented on the platform, the system confirms the reservation and displays the reserved security deposit in the tenant’s e-wallet.
If the contract is not documented, the reserved amount is released and returned as available balance to the tenant.

Frequently Asked Questions (FAQs)

1. What is a security deposit?

It is an amount paid by the tenant as trust collateral to compensate the property owner for any damages covered under the tenant’s responsibility.

2. Is entering and registering the security deposit required to complete contract documentation in Ejar?

• If no deposit is specified, contract documentation is not affected.
• If a deposit amount is specified, it must be registered and held by Ejar.

3. If the landlord does not approve the contract, will the reserved security deposit be released?

Yes. The reserved amount will be released and returned as available balance in the tenant’s e-wallet.

4. Upon contract termination or cancellation, will the security deposit be refunded to the parties?

Yes. The refund will be processed through Ejar based on the mutually approved property Move-in/Move-out form.