Dubai: Landlords in Dubai can soon say a goodbye to processing post-dated cheques manually. Instead, landlords – and property management companies – will allow tenants to make rental payments using their bank account instead of issuing cheques as per current practice. This will also allow them to make use of flexible payment plans from their landlords or property management companies.
As such, rental cheque payments will soon be automated and digitised through enabling of rent collection using the UAE Central Bank’s Direct Debit System (UAEDDS). This will further allow them to avail of flexible payment plans from their landlords or property management companies.
Ahead of the full switch, the Dubai Land Department has already aligned with Emirates NBD to take the rental cheque payment methods online. Individual investors from overseas looking to purchase property in Dubai can also open non-resident savings accounts with Emirates NBD, which will help in facilitating their purchase and managing their property and rent collection. The overseas investors will be supported by a relationship management team.
"As part of our mission to present a regulatory environment in service of tenants and property owners, we have partnered with Emirates NBD in line with our efforts to fully digitalise our services as per the 'Dubai Paperless Strategy'," said Sultan Butti bin Mejren, Director-General of Dubai Land Department. "Such collaborations will help facilitate and streamline the processes involved in the property market... towards replacing the legacy systems in place.”
