Rent Now, Pay Later! Dubai Resident Will Soon Be Able To Enjoy This Scheme

by Deeplata Garde
Rent Now, Pay Later! Dubai Resident Will Soon Be Able To Enjoy This Scheme

We always gather a list of concerns before choosing a place to rent. The foremost concern is the heavy rent amount. But what if we tell you that you can simply rent the property and pay the amount of rent? Sounds like a dream? Well, it’s coming true now. A UAE-based housing company is launching this scheme called Rent Now Pay Later and we can’t contain our excitement.

Keyper, A UAE-Based Company Is Launching Rent Now, Pay Later This July

 

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Tenants will be able to pay their yearly rent with a credit card each month utilising the property portfolio management platform Keyper.

Dubai residents pay their rent in a span of two to twelve months in advance. It overall includes one to six postdated checks. Keyper provides up to a 12-month period of rent-specific cash assistance.

The new platform would allow renters to distribute their rent instalments over a full year. The precise sum depends on how many payments the landlord anticipates receiving. After the renter accepts the offer, the platform will get in touch with the landlord to secure their legal consent to provide this service.

Also Read: You Can Now Use Cryptocurrency To Buy Property In Dubai

Extension Of Buy Now Pay Later

 

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The Buy Now Pay Later (or BNPL) macro-finance, which got its beginnings in the UAE with customers wishing to buy mid-range purchases, is expanded upon by the Rent Now Pay Later model.

The landlord bears no extra fee if the tenant obtains the RNPL offer but in this process, the landlord rejects the advance rent. In this scenario, tenants would pay in 12 instalments (each with a greater premium), and the landlord would receive the rent according to the initial payment term, which might be either four or six months.

The whole contract is digitally signed once everyone is on board. The tenants have to submit the payment card information. The renter will have access to a customised panel with email and SMS payment reminders once the lease is live.

The tenants would have access to their personal dashboards in order to keep track of their payments. Through this dashboard, they can also add new credit cards, and read their leasing agreements. Do you think this scheme is better than paying all the rent at once with a heavy security deposit which is asked by the landlords?

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