“Ejar: Documented residential leases grow to more than two million contracts

The number of residential lease agreements registered on the electronic rental services network has exceeded two million across all cities and regions of the Kingdom from the program’s inception through September 2021, thanks to improvements in the services provided by “Ejar” in partnership with real estate brokers, with the aim of protecting the rights of all parties and enhancing the reliability of the real estate sector.
In a press release, the “Ejar” program explained that the platform is continuously improving its services to meet the expectations of all parties and elevate the rental real estate sector, and to contribute to creating a secure rental environment by increasing trust in financial and contractual transactions and streamlining procedures with advanced electronic tools. This has significantly contributed to the registration of more than 3 million real estate units, for which more than 2 million residential leases have been signed since the network’s launch in 2018.
“Ejar” reaffirmed its commitment to continuing to build trust among all parties involved in the rental process by streamlining the documentation of real estate contracts, diversifying the network’s services, and improving the registration process, streamlining financial transactions and mechanisms for paying and scheduling rent bills as part of the program’s efforts to enhance the network’s efficiency and facilitate its electronic operations, in addition to strengthening strategic partnerships with partners, the most recent of which was the integration with the National Water Company to electronically transfer water meter accounts in the name of the actual beneficiary (the tenant) to the Ejar network.
The electronic rental services network offers numerous digital benefits, including: scheduling payment installments (monthly, quarterly, semi-annually, and annually), which can be set in ascending or descending order through specific and flexible payment plans; the ability to select a payment channel for each rent installment; support for new types of properties and units; a streamlined process for registering new contracts in 5 easy and flexible steps, electronic contract notarization directly through the platform without needing to access the Absher platform, It also includes an automatic renewal feature for commercial leases, provides a new channel for paying rent and topping up balances via the “Mada” service, and enables users to make partial payments and top up balances quickly and easily.
It is worth noting that the “Ijar” program aims to enhance the reliability of the real estate rental sector, protect the rights of all relevant parties—including landlords, tenants, and real estate brokers—draft standardized lease agreements that meet the needs of users, improve the sector’s performance and increase its contribution to GDP, and reduce disputes through the formalization of contracts. For more information about “Ijar,” please visit the following link https://www.ejar.sa.