Let’s be honest, the Dubai rent cheque system can be difficult to tackle for a lot of us. However, there’s some good news that will give you a breather from this grind. As a tradition, rent is Dubai is paid as post-dated cheques- either one or six cheques depending on the landlord. This is spread across a period of 12 months.
While this system works well for residents, those moving into the region or wanting to move to bigger homes might find this a little difficult. So, how can one manage this? Well, here’s the deal. Digital real estate investment management start-up, Keyper has launched a ‘rent now, pay later’ scheme. According to this new system, you can pay your rent monthly with your credit or debit card.
The system’s RNPL platform will allow tenants to pay their rent across 12 months instead of the current four or six cheques. “Tenants can pay with their credit card or debit card and they can also benefit from reward points or miles,” Omar Innab, co-founder and chief executive of Keyper, told The National. Well, you might end up paying a little more through this scheme, but it works well if you wish to streamline your monthly bills.
Also Read: Dubai Residents Can Now Learn Driving In Swanky Luxury Cars; Here’s How
how does the ‘Rent now, pay later’ scheme work?
Its as simple as this- when you sign the rental agreement, Keyper will pay the wholesome amount to your landlord. You can then pay them back every month as well as earn points as you use the credit card. You can make payments, track payments and also set reminders for payments via the Keyper app.
Tenants will not be charged a monthly fee for the RNPL option. However, they will be required to pay a higher rent depending on the frequency of the payments.
In return, Keyper will earn an income from the landlord’s property management fee. The company charges a fixed fee of AED 3,650 ($994) for an apartment and AED5,400 for a villa. Besides, a late payment fee of AED500 will be charged for late payments. However, no interest will be levied for late payment.
The new scheme is set to be rolled out in July, but you can currently register your interest on the Keyper website.
Leave a comment