rental payments

Dubai Rental Payments Turning Digital

Dubai is one of the most attractive destinations for people looking to establish a high-quality lifestyle. This is especially true since Dubai’s real estate industry is constantly growing, providing citizens and foreigners with the most luxurious, convenient, and elegant residential properties and the opportunity to live their dream life.

Dubai initiates changes in its policies to please real estate customers and to facilitate the real estate developers’ operations. Therefore, rental payments in Dubai are turning digital.

To discover more about this change, read below! But first, here are some reasons that make purchasing residential properties in Dubai an ideal choice.

Reasons to Purchase Residential Properties in Dubai

If you’re considering moving to Dubai and purchasing residential property there, rest assured that you are making the right choice. Here is why:

  1. The emirate of Dubai is resilient thanks to its policies and course of action against crises. For instance, Dubai quickly recovered from the pandemic thanks to prioritizing vaccinations and implementing travel policies encouraging tourism in the emirate.
  2. Dubai’s well-planned and well-implemented policies against the pandemic enabled the real estate sector to recover from the initiative lockdown and continue to grow.
  3. Dubai’s real estate market is stable due to the support it receives from the emirate’s ever-growing economy, mainly thanks to its flourishing tourism sector.
  4. Dubai is a safe environment that prides itself on having a low crime rate and all needed regulations to prevent it.
  5. Dubai’s society is multicultural, and it comprises varying communities. Are you a foreigner planning to move to Dubai? It has a place for you!

Dubai Rental Payments Turning Digital: In Depth

The Dubai Land Department (DLD), Dubai’s real estate regulator, and the Emirates NBD, Dubai’s biggest bank, are partnering to turn all rental payments digital.

What does that mean for you as a tenant?

With rental payments becoming digital, you can pay rent online, using online banking that you can access through your bank accounts. This will save you the trouble of issuing post-dated cheques.

Before learning about digital rental payment benefits, let’s explore why they are becoming digital in the first place.

Why are Dubai Rental Payments Becoming Digital?

Replacing post-dated cheques with digital payments aligns with Dubai’s vision for paperless payment ecosystems that are part of the Dubai Paperless Strategy, which aims to transform Dubai’s government into a fully digital one.

Not only does this strategy offer an excellent benefit for the environment in terms of reducing pollution and sustaining the planet for future generations, but it will also make governmental procedures and documentation much easier and more efficient.

In addition, digital rental payments are part of the Dubai 10X initiative. Its goal is to make exponential changes to governmental entities to place Dubai 10 years ahead of the world’s best leading cities.

Who Can Benefit from Digital Rental Payments? And How?

With rental payments turning digital, landlords, property management companies, tenants and foreign purchasers gain many benefits.

Property management companies and landlords will eliminate administrative activities required to manually manage post-dated cheques, making the rent collection process much easier, more efficient and faster.

As for the tenants, they will pay rent through online banking services, allowing them to enjoy more flexibility in their daily lives, as they can pay rent whenever and wherever they are.

Paying rent online is secure, and it reduces the chance of cheque fraud and theft, which can happen by stealing the personal and bank information printed on the cheques.

Moreover, paying rent online increases the visibility of your payment history, which equals increased transparency and accuracy.

If you’re a foreigner who is planning to purchase residential properties in Dubai, you can open non-resident savings accounts with Emirates NBD that will:

  • Facilitate your purchase.
  • Manage your property and rent collection conveniently.
  • Offer you support from a dedicated management team.

With digital rental payments, you can also benefit from flexible payment plans from your property management company and real estate developer.

Speaking of which, Azizi for real estate developments provides you with various offers you can choose from when purchasing your dream home.

Read below for more!

Azizi Developments Offers and Properties

Azizi Developments is a leading real estate developer in Dubai. It offers many residential properties that guarantee you live your desired life in your dream home.

Your next home can be in Azizi’s project: Riviera 1. It offers a creative combination of modern architecture and French Mediterranean design for its multicultural community, alongside waterfronts, relaxing greenery and many luxurious amenities, such as BBQ seating, swimming pools, lounges and yoga zones.

Azizi also brings you special offers when purchasing properties on Park Avenue in MBR City. The properties have everything you need! Gyms, swimming pools, city views, golf courses, cycling and running tracks, and a location near Dubai International Airport, Downtown Dubai, Dubai Creek, Al Khail Road, and more!

Takeaway

Digital rental payments in Dubai facilitate new opportunities for foreign investors, making the rental collection much easier for the tenants and management companies.

With digital rental payments, you can benefit from payment plans from your property management company. And if you’re looking for great offers that provide you with the home you’ve always wanted, check Azizi’s residential properties and Azizi’s offers to choose your next forever home today!