Housing Minister Shawaish Al-Duwaihi announced on Sunday the launch of a lease network system early next year.

The ministry is currently making available 80 sites throughout the Kingdom for the development of housing spanning a total area of 106,534,059 square meters.

The electronic rent services system will streamline the contract between landlords and tenants by documenting the unified lease contract. The system offers a good opportunity for tenants to pay rent directly from bank accounts, especially following the application of the wage system binding the payment of employee salaries in the private sector through bank accounts.

The rent system will be implemented through “the neighborhood housing office,” which will serve as an intermediary between tenant and landlord, said the minister.

Owner data in the neighborhood will be registered in the system through the real estate office and this service will be implemented following the evaluation of work performance of property offices across districts and regions in the Kingdom.

According to a ministry source, the services of the project that the ministry is planning to launch contains eight items that aim to document the unified lease contract and facilitate the finalizing of the contract between the parties to the rental process.

This includes building an electronic mechanism for the contracts, checking the identity of the parties of the contract, retrieving the contract if needed, and recording data in the “Shomos” security system. The system also includes creating a credit record for customers by assessing the client based on the history of financial transactions in the database. Renters can review the evaluation via the “Shomos” security system. Additionally, the system helps mediate between landlords and tenants. An electronic platform will facilitate the electronic display of real estate units available for rent and provide mechanisms for effective search of beneficiaries.

Other features include a rent platform that aims to integrate other government and private regulations through the development of standard communication tools. It will also facilitate establishing real estate statistics and indicators.

An e-payment mechanism will allow the flow of rent payment from the lessee to the lessor or mediator, which help ease payment transfers and allow for documenting the payment process. Finally, the services of the project system also include alerts and notifications that inform the user about new notices when contracting and inform them about important dates and about any changes to their contractual accounts.