The number of residential rentals documented on the rental services e-network has exceeded 3 million residential rentals from the launch of the program until May 2022, which means that 45% of the market size of occupied rental units in the Kingdom is documented with rentals. contracts, and this reflects the superiority of services provided by the rental network to the parties in the rental process, while the number of properties registered on the network exceeded 4.3 million rental units.
In today’s press release on the sidelines of the Maskan Real Estate exhibition held in Riyadh between May 26-29, the Ejar program confirmed that the development of the network, the improvement of services and the addition of permanent benefits have contributed to increasing the trust of the beneficiaries of the rental property sector, which facilitated the recording of historical records From the number of documented contracts, registered units, or financial transactions that occur through the network.
The program states that the modernization of the real estate rental sector, increasing its efficiency, simplifying its operations and rental procedures and creating a safe environment for its financial and contractual transactions is ongoing and continuous, which contributes to an improvement in the investment environment and reduces risks by preserving the rights of the parties to the rental process and reducing the time for consideration of disputes under lease agreements. The number of lease cases in courts of general jurisdiction has been reduced by 50%.
Earlier, Ecar announced the addition of a number of services that have resonated with the real estate sector, such as the rental index, pickup and delivery, rental behavior, online documenting of contracts electronically, and the provision of various rental payment channels. payments, including: “Mada” and “SADAD”. “Both collecting balances and enabling beneficiaries to make partial payments, in addition to strategic partnerships with other parties that allow services to be transferred on behalf of the actual user of the rental unit.
