To take advantage of installments in banks
Tenants are demanding to make rental payments via credit cards
Determining the methods of paying rental payments depends on the agreement between tenants, companies or real estate owners.
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Tenants of residential units in Sharjah asked real estate companies to obtain facilities to make rent payments using credit cards to take advantage of the possibility of installments over periods according to the different offers in the banks.
They indicated to "Emirates Today" that the facilities are important to alleviate the financial burden, especially in light of the changes imposed by the "Corona" pandemic.
On the other hand, specialists and officials in real estate companies stated that paying by cards is one of the future trends in the sector, pointing out that some companies are already studying the availability of these services.
For its part, the representative committee for the real estate sector at the Sharjah Chamber of Commerce and Industry confirmed that determining payment methods depends on joint agreements between tenants, companies or owners, and that payment by cards provides additional facilities and benefits that can be provided during future periods, gradually and within the framework of the transition towards digital services. .
Real estate companies
In detail, the tenant Ahmed Naguib said, "It is necessary for real estate companies to allow the possibility of paying rent payments and financial obligations through credit cards, in a way that enables tenants to benefit from the installment of amounts paid through banks."
The tenant Omar Abdullah added, "The Corona pandemic has imposed various variables in the markets, and it is important for real estate companies to allow, to reduce the financial burdens of tenants, the possibility of making financial payments via credit cards, so that tenants can install rental payments with banks."
The tenant, Ahmed Abdel Rahim, explained that “he tried with the company that manages his building to accept the payment of the rental payment via credit card, but the company employee told him that this system is not approved, and that he has to commit to payment by checks, which represents a difficulty in light of the circumstances imposed by the pandemic ( Corona) ».
Tenant Ismail Mahdi wondered about “the reasons for the companies’ adherence to the traditional payment methods, despite the development of digital services in the country, which represents a difficulty for some tenants, especially with companies ’insistence on paying the rent in (three months) payments, unlike the practice in most countries of the world by paying the rent in a manner. Monthly".
Credit cards
In turn, the real estate expert and head of W Capital real estate brokerage, Walid Al-Zarouni, considered that “making the option to pay rent payments using credit cards is an important future trend in the real estate sector, as several companies are studying this option, but it will take some time to implement it. , In light of the procedures supposed to be implemented, to switch from paying via checks to using cards.
He added, "Although these services may be neglected by some companies at first, with their unwillingness to incur any additional costs in changing and paying fees for using that service, the companies that will initiate their application will get a competitive added value for their services in the market."
Pandemic conditions
The executive director of Al Somme Real Estate Company, Sufyan Al Salamat, pointed out that «the recent period, and in the circumstances of the pandemic, has witnessed requests from tenants, about the possibility of paying with cards, which makes the company study options and possible ways for these services during the coming period, especially with As it keeps pace with the future developments of digital services in the sector, it will also represent an additional competitive advantage for companies that can make it available in short periods of time. ”
Make payments
In turn, the head of the representative committee for the real estate sector in the Sharjah Chamber of Commerce and Industry, the head of the "Al-Ghanim Real Estate" company, Saeed Ghanem Al-Suwaidi, stated that “determining the methods of paying rental payments depends on the agreement between tenants, companies or property owners, and with some tenants demanding payment via cards. To benefit from the installment offers in banks, this may motivate some companies to study and make these services available in future periods. ”
"The availability of credit card payments is one of the important future directions in the sector, which keeps pace with the shift towards digital services, although it faces the challenge of the commission imposed on the use of these devices, which is what makes companies study them well," he added.
He explained that his company is currently studying options to allow the use of credit cards to pay rent dues during future stages.
Financial obligations
Fouad Jassim, director of Manara Al-Shati Real Estate Company, said that “allowing rent payments and financial obligations to tenants in general through credit cards may take time to apply, especially with real estate companies having to pay fees to banks for using that service,” pointing out that “these Services are one of the future directions, but some companies may find difficulties in applying them immediately.
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