The Ministry of Housing in Saudi Arabia has unveiled the e-payment services on its Ejar network to enable tenants to conveniently process rent payments.
Saudi Arabia deputy minister for planning and studies Mohammad Al-Zumaie’s press statement was quoted by zawya.com as saying that the system aims to facilitate payment of rents for tenants and help them organize their budget.
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It will also ease the procedures of documenting payments and collections for the owner as per agreed terms and conditions.
"Ejar network aims to regulate the relations between the parties concerned, maintain tenants’ rights and those of the landlords and mediators which will result in stabilizing rent prices in addition to promoting investments in rental residential units," Al-Zumaie added.
Ejar network offers a complete and correct statistical database for the rental sector, comprising information on the volume of demand and supply to serve as an indicator for potential investors and developers to draw up plans as per requirements.
"The system allows the monitoring of the rental sector and helps the ministry and concerned parties to draft the appropriate regulations that should maintain the rights of tenants and leasers," Al-Zumaie told the news portal.
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By GlobalDataLeveraging an electronic platform, the Ejar network seeks to regulate and facilitate the collection and analysis of data on the housing sector and then provide it to the parties concerned.
