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Source: Arabian Business
Published on 12/17/2024

‘Rent Now, Pay Later’ Transforms Dubai’s Rental Market

Flexible Payment Option Boosts Tenant Retention and Landlord Flexibility in Dubai

The 'Rent Now, Pay Later' (RNPL) trend is revolutionizing Dubai's rental market benefiting both tenants and landlords. This payment model improves cash flow for tenants aligning rental payments with their monthly income, while offering landlords flexible payment options.

Leading companies like Keyper are gaining market share by offering RNPL with over 20,000 applications processed and high acceptance rates.

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RNPL allows tenants to pay monthly while landlords can receive rent upfront or in installments, reducing vacancy times and attracting more tenants. The model is especially popular with expats as it removes the burden of large upfront payments, particularly for young professionals.

Additionally, RNPL enhances tenant retention with tenants often renewing leases or recommending the model to new landlords. The process includes rigorous eligibility checks, ensuring financial security for both parties.

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With the Dubai Land Department's support in creating a digital rent payment platform, RNPL is increasing market transparency and aligning Dubai with global rental practices, making it a more attractive destination for talent.