Now pay home rents directly through bank accounts in Dubai
22 February 2023, Gulf Today
The Dubai Land Department has announced the possibility of paying rents through the “direct payment system” of the UAE Central Bank, with the aim of facilitating smooth customer services in the department.
According to the system, tenants can now pay rent without cheques through direct payment channels using the Noqodi portal, which authorizes tenants to pay directly.
A one-time integration is required with the Ejari application which will allow residents to use the Noqodi system completely.
The system also provides the possibility of scheduling payment.
Rental fees upon signing the new contract or in case of renewal of the contract will be charged as per guidelines.
Tenants are requested to link their bank in Noqodi portal to maintain Noqodi wallet from where the Direct Debit payment will be made to the partner banks.
The system saves the time of the tenants and customers by being physically present at the drop off or signing the cheques.
The system is also in line with the department’s efforts to provide a safe and sustainable real estate system.
Through the system, it is possible to arrange direct payments according to the terms of the contract, without the need for cheques, and thus the owners and real estate managers do not have to deal with post-dated cheques, and provide more flexible payment options for tenants, and facilitate the process of buying and managing real estate and easily collecting rents from individual and investors who are outside the country.
The direct payment system will ensure raising awareness, confidence and transparency in the real estate sector, and harnessing technology to develop real estate products, thus enhancing the effectiveness and efficiency of operations and corporate governance.