Tenants in Dubai Residential communities can now split their first rent instalment into smaller payments, under a new option launched with UAE fintech platform Rentify. The partnership was announced on Tuesday, 10 November, and covers 22 communities that the developer says are home to more than 146,000 residents.
Dubai Residential is part of Dubai Holding Asset Management. Its portfolio includes Bluewaters, City Walk, Nad Al Sheba Villas, The Gardens, Garden View Villas, Remraam, Layan, Ghoroob and Shorooq, according to Gulf News.
How the rent-splitting option works
Under the new arrangement, eligible tenants who pay their annual rent in four equal instalments can use Rentify to divide the first of those instalments into smaller payments, rather than paying the full amount on the due date.
Gulf News gave an example: on an annual rent of Dh80,000, the first quarterly payment of Dh20,000 could be split, subject to Rentify’s terms. New tenants can choose the option when signing their contract, and residents renewing leases can also apply if they meet the criteria.
Payments are made through credit cards issued by selected banks. The companies have not named the participating banks, and neither report listed specific fees or the number of instalments available. Both Gulf News and Khaleej Times said eligibility conditions, applicable rates and terms apply, and the service is offered alongside existing payment methods rather than replacing them.
What tenants should know
- Who it is for: Eligible new and renewing tenants in Dubai Residential’s 22 communities
- What can be split: The first of four quarterly rent instalments
- How: Through Rentify, using credit cards from selected banks
- Costs: Rates and eligibility conditions apply; full fees have not been published
- Existing options: Current payment methods remain available
What the companies said
Ahmed Al Suwaidi, Managing Director of Dubai Residential, said the partnership reflected the company’s aim of “making the rental journey simpler, more flexible and increasingly digital”.
Rashed Hareb Al Mheiri, Co-Founder and CEO of Rentify, said tenant expectations were shifting. “Expectations around renting are changing,” he said, adding that people increasingly want more control over how they pay. Rentify Co-Founder Rajneel Kumar said technology and financial services could make renting more convenient for both tenants and owners, Khaleej Times reported.
Practical tips before signing up
Because the service runs on credit cards, tenants may want to check with their own bank about any interest, processing charges or instalment-plan fees that could apply on top of Rentify’s terms. It is also worth confirming with Dubai Residential whether a particular unit and lease qualify before relying on the option to meet a payment date.
Dubai Residential’s app already lets residents request maintenance, renew leases, arrange move-in and move-out services and pay rent, according to Khaleej Times. The companies have not yet said when the new option will be available to every eligible tenant, or detailed the application steps, so residents may wish to watch for updates through the app or their community office.
The launch follows other recent fintech developments in the UAE, including Tabby’s trial of a business account for SMEs.
Sources: Gulf News, Khaleej Times
