Exciting news for property owners in Dubai who are in the rental business in the emirate

The Dubai Land Department has clarified the new way to pay for housing rent.

Residential rentals in Dubai can now be paid for by debiting the tenant's account through the Noqodi Ejari Direct Payment Service (DDS).

This system gives additional protection to homeowners when renting out, since now every transfer of the tenant must be approved by his bank, which, in turn, interacts with the central bank of the UAE.

The terms of payment for debit payments are prescribed in the lease agreement and can be with different periods, for example, 2, 4, 6 or 12 payments.

It is worth noting that for a long time the payment by checks prevailed in the rental market of the UAE, since direct debit payments were not previously available, unlike the markets of other countries. Now the United Arab Emirates has also come to this practice. Undoubtedly, this will have a positive impact on the Dubai rental market for both landlords and tenants.

This innovation is the next step towards the automation of the Dubai settlement system and the digitization of rental payments, which tells us about the reliability of the UAE rental market regulation system. Consequently, the Dubai real estate market is becoming even more attractive for investors

Positive news for Dubai Rentals markets