The Dubai Land Department has launched an initiative called Rent Now, Pay Later. Eligible tenants can now spread their annual rent over 6 or 12 monthly instalments, while the landlord receives the agreed amount upfront in a single payment.
The scheme is available through the credit cards of one partner bank. Tenants must meet that bank's eligibility criteria and pass a credit assessment. The announcement gave no details on interest, fees or the exact application process.
Earlier in the same week, the Dubai Land Department launched an upgraded version of Ejari, the tenancy contract registration system, in the government's DubaiNow app. Tenants can pay the DEWA security deposit within the same digital process, which activates electricity and water for the property.
Both measures fit into the wider digitalisation of rental procedures in Dubai. For tenants, a large annual outlay becomes easier to manage, while landlords still receive the rent upfront in one go.
