A new rental marketplace launched by property management platform Keyper is offering tenants in Dubai the option to pay their rent in 12 monthly instalments instead of a large upfront payment.
The rent now pay later (RNPL) marketplace aims to ease the financial burden for tenants by providing pre-approved properties from several major real estate agencies in Dubai.
By enabling tenants to manage rent in smaller, monthly payments, the RNPL Marketplace addresses a long-standing challenge in Dubai’s rental market – the large upfront costs of securing a lease. This initiative also provides an entirely digital experience, from searching for properties to finalising agreements.
Landlords participating in the platform retain the option to receive full annual rent payments upfront, with tenants able to pay monthly through credit or debit cards. This approach seeks to balance the needs of both landlords and tenants, helping real estate agents close deals faster without compromising on payment preferences.
Alessia Sheglova, CEO of Dacha Real Estate, a partner in the marketplace, commented: “Tenants will get to pay monthly with their credit card, which they have desired for the longest time, and our landlords will get paid upfront in one payment, every landlord’s dream.
“For our agents, this is a great deal because they get qualified clients from the Keyper marketplace. We also get to close more deals faster, as Keyper can breach the gap on payment terms.”
The marketplace
The marketplace uses advanced tenant screening technology, developed with Uqudo and Lean Technologies, to simplify the rental process. Through digital identity verification and open banking tools, tenants can quickly check their eligibility for RNPL, all from a mobile device.
Keyper’s CEO, Omar Abu Innab, highlighted the broader impact of this new service: “By offering a solution that allows for monthly payments, we’re not only helping tenants better manage their finances but also bringing the entire rental experience into the 21st century. This launch is a significant step in our mission to make renting and owning property in Dubai as smooth and modern as possible.”
Initially launching in Dubai, Keyper plans to expand the RNPL model to other cities across the UAE, including Abu Dhabi, with ongoing partnerships aimed at growing its rental inventory to meet the evolving demands of tenants.
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