Documented Residential Lease Contracts, Skyrocketing

The number of residential lease contracts documented over the electronic network of rental services, have exceeded two million contracts, in all cities and regions of the Kingdom, from the beginning of the program until September 2021, due to the development in the services provided by Ejar, in partnership with real estate brokers, in order to preserve the rights of all parties and increase the reliability of the real estate sector.

The Ejar program explained in a press statement, that the network is witnessing a development in the services provided, to achieve the aspirations of all parties, improve the rental real estate sector, and contribute to creating a safe rental environment by increasing confidence in financial and contractual transactions, and facilitating procedures with advanced electronic tools, which contributed greatly. Registration of more than 3 million real estate units, more than two million housing contracts have been concluded since the launch of the network in 2018.

Ejar affirmed its continuation to enhance the confidence of the parties to the rental process by facilitating the documentation of real estate unit contracts, diversifying network services, improving the registration process, facilitating financial operations and mechanisms for paying rent bills and scheduling them as part of the program’s efforts to raise the efficiency of the network and facilitate its electronic operations.
In addition to strengthening the strategic partnership, with partners, the most recent of which was linking with the National Water Company, with the aim of transferring water meter accounts in the name of the actual beneficiary (the lessee) electronically in a rental network.

The electronic network for rental services offers many electronic advantages, including: scheduling payment payments (monthly, quarterly, semi-annual and annual), and they can be set on ascending or descending scales, and through specific and flexible payments.

And one of the payment channels can be chosen for each rental payment, in addition to accommodating new types of rental services. real estate units facilitating the mechanism for registering new contracts within 5 easy and flexible steps, documenting contracts electronically via the network directly without the need to enter the Absher platform, adding the automatic renewal feature of the commercial contract, providing a new channel for the payment of rental payments and recharging the balance through the (Mada) service, and enabling beneficiaries to make the payments, in part and charge the balance easily and quickly.

It is noteworthy that the Ejar program aims to enhance the reliability of the real estate rental sector, preserve the rights of all relevant parties, including landlords, tenants and real estate brokers, formulate unified rental contracts that meet the needs of beneficiaries, improve the sector’s performance and raise its contribution to the gross domestic product, and reduce disputes through contract documentation.

For more information about Ejar, you may visit the following link: https://www.ejar.sa.