Posted on August 18, 2022 by Driven Properties Latam
A new strategy for the benefit of residents and non-residents is emerging in Dubai. Tenants will not need to send rent cheques, payments can be made through bank accounts.
Emirates NBD and Dubai Land Department have teamed up for this new strategy to help owners and tenants.
In 2018, payment by direct debit or online banking was already approved.
This method will help owners stop manually managing old cheques. Tenants will also enjoy flexible payments.
Those who have just arrived in Dubai will have the option to rent a property much easier since they will not have to wait for a cheque stub to be issued.
And as for foreign investors looking to invest in property in Dubai, they will be able to open a non-resident savings account in the future.
We are waiting to update the launch date of our digital system.