the digital rental platform has announced the launch of a new feature called “Automatic Contract,” which aims to streamline the process of renewing lease agreements between landlords and tenants.
Details of the Automatic Contract Feature
This feature allows tenants and landlords to automatically renew lease agreements and pay fees 60 days before the contract expires, whether the leases are residential or commercial. The contract is registered and documented only once; thereafter, it is automatically renewed without the need to submit a new application, provided that the original agreement between the parties remains in effect.
Objectives of the New Feature
The “Automatic Lease” feature aims to:
- Simplify the leasing process: Make contract renewals straightforward without the need to repeat procedures.
- Ensure the continuity of the agreement: Ensure that the contract continues under the same terms and conditions previously agreed upon.
- Save time and effort: Reduce the administrative burden on both the landlord and the tenant through simplified renewal procedures.
How to use the lease renewal feature?
Landlords and tenants can activate this feature when registering contracts on the Ejar platform, where the original contract terms are agreed upon to remain in effect in the event of automatic renewal.
With this step, the Ejar platform enhances the efficiency of the rental process and provides innovative solutions that meet the needs of the Kingdom’s real estate market, thereby contributing to greater stability in rental relationships.
