Residential Rent Payment Made Through Digital Platform In Saudi Arabia

As per the Real Estate General Authority, all the residential rent transactions, including payments, in Saudi Arabia have been made exclusively through digital channels. The digital payment methods can be processed using Ejar”s Mada or SADAD channels, with the biller number 15. Residents in Saudi should pay the rent digitally. The payment outside the digital platform will not be considered from January 15 onwards.

Going digital and eliminating the need for printed receipts, the payment will be automatically made through digital channels and hence the issuance of electronic vouchers will gradually disappear for new residential contracts. The digital transition is part of the Cabinet”s decision to cater electronic payment services for rent contacts.

Landlords and tenants will have to document their contact on the Ejar platform through a licensed real estate broker. Then they can use digital payment channels for all the rental transactions. Within five working days, the payment will be deposited to the landlord’s registered bank account.

The real estate sector will benefit from the transition, making it simple for the tenant to pay rent through digital channels and deposit it in the bank account of the lessor registered in the lease contract. The Real Estate General Authority made the transition to the digital payment system considering the efficiency and convenience of the involved parties.