Tenants confirmed that the monthly payment system for rental values is currently the most appropriate, pointing out that it does not detract from the rights of real estate owners, but rather makes it easier for tenants to organize and prepare their monthly budgets.
They explained to "Emirates Today" that the "monthly payment" relieves the tenants of the burden of providing the rental value in the form of payments every three months, proposing to provide this system in addition to the option of the payments system for those who wish to do so.
For their part, real estate agents said that the recent period witnessed the demands of tenants in Sharjah to implement the monthly payment system in rental contracts, and to prefer it over an established system that obliges the tenant to pay the rental value in three or four installments.
They explained to "Emirates Today" that the monthly payment is one of the most prominent trends in the market recently, which contributed to an expanded competition among companies to offer facilities that allow this, considering the companies' response to this as a positive flexibility of market supply and demand variables.
The tenant, Mohammed Sami, said that the provision of many real estate companies in Sharjah with facilities for the monthly payment of rental values, motivated him to move to a new housing unit that allows this, as it contributes to alleviating financial burdens, and organizing the monthly budget for families.
For his part, the tenant Rami Mahmoud considered that the monthly payment system is currently the most appropriate for most tenants, pointing out that he decided to move to a new apartment belonging to a real estate company that offers this option, and was motivated by the presence of offers from real estate management companies.
The tenant, Ibrahim Sayed, agreed that the monthly payment system is currently appropriate, noting that he asked the official of the real estate company, who moved to live in one of its housing units, to apply this system before renting. He said that the monthly payment relieves the tenants of the burden of providing the rental value every three months, which is a great pressure on the family budget.
As for the tenant Saad Ayoub, he considered that the monthly payment does not detract from the rights of real estate owners, but it makes it easier for the tenants to organize and prepare the monthly budget for the costs of living, and therefore, it is important that the owners and real estate companies respond to this, especially during the current period that is witnessing a great trend towards monthly payment. Or every two months, with the option to pay in installments for those who wish to do so.
In addition, the Executive Director of Al-Sum Real Estate Company, Sufian Al-Salamat, said that the recent period witnessed the demands of real estate tenants for facilities that allow monthly payment in rental contracts, pointing out that this contributed to the expansion of a number of real estate management companies in offering offers that allow this system to attract tenants.
Al-Salamat stressed that these offers have raised the competitiveness of the markets, and kept pace with the recent changes in the trends of tenants.
He added, "There are a large number of tenants who prefer to pay by the monthly system or every two months, which allows for better organization of the monthly financial budget," pointing out that the "monthly payment" is a system followed in most countries of the world, and its application limits default in payment, given that the possibility of Paying every month is more convenient than paying three months in one go.
He explained that the difficulties of monthly payment are related only to restructuring the check collection system in real estate companies, as they will have to continue collecting checks on a monthly basis instead of every three months.
In the same context, the director of Manarat Al Shati Real Estate Company, Fouad Jassim, said that the monthly payment facilities for rental values have become, in different areas of Sharjah, among the most popular offers that real estate companies focus on. He believed that the expansion of companies in these facilities is a positive thing, to keep pace with the trends of modern tenants in the markets, expecting the continuation of the facilities as long as there is a great demand for them.
For his part, the real estate broker, Magdy Abdelaziz, indicated that a large number of tenants are now demanding, when renting, the application of the monthly payment system in rental contracts.
He stressed that he has monitored an expansion in the offering of these facilities by several companies, in different areas in Sharjah, in response to the tenants' demand, which reflects the extent of the positive flexibility of market demand and supply variables.
He added that the monthly payment allows tenants the benefits of better control of the monthly budget, in addition to providing companies with the advantages of reducing the number of non-performing payments, compared to the payment system every three months, while increasing the chances of default when the value of the outstanding amounts rise.