In a bid to enhance transparency and security in the rental process, the Saudi 'Ejar' platform now mandates tenants to provide a one-time property guarantee during the documentation of rental contracts. This initiative aims to ensure the return of rental properties without damage, while streamlining rental procedures through electronic documentation.

1. One-Time Property Guarantee: Tenants are required to make a single payment towards a property guarantee at the time of contract conclusion, which will be held by the Ejar platform as a neutral party.

2. Transparent Process: The Ejar platform facilitates the reservation of the guarantee amount from the tenant's wallet upon contract documentation, ensuring transparency and accountability in financial transactions.

3. Security Measures: In case of damages, the value can be deducted from the security amount deposited by the tenant, fostering trust and minimizing disputes between tenants and landlords.

4. Electronic Documentation: Rental contracts are documented electronically, providing an efficient and accessible way to manage rental agreements while reducing paperwork and administrative burdens.

5. Financial Transactions: As of Jan. 15, 2024, all financial transactions related to rent payments are conducted through the Ejar platform, ensuring a seamless and secure payment process for tenants and landlords alike.