Ejari is a real estate technology platform that allows tenants in Saudi Arabia to rent residential properties by splitting their annual rent into 12 monthly payments, while landlords receive the full yearly rent upfront. This service addresses high upfront rental costs, providing tenants with lower move-in expenses and flexible payment options.
Funding
$15.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Tenants in Saudi Arabia often face the burden of high upfront rental costs, typically requiring a full year's rent in advance, which limits housing options and financial flexibility. Landlords, on the other hand, bear the risk of tenant default and the administrative overhead of rent collection.
Solution
Ejari is a real estate platform that enables tenants in Saudi Arabia to split their annual rent into 12 monthly payments, while ensuring landlords receive the full year's rent upfront. Ejari effectively acts as an intermediary, renting the property on behalf of the customer for a year and then subleasing it back to them with a monthly payment plan. This model reduces the financial strain on tenants, providing lower move-in expenses and payment flexibility, while offering landlords guaranteed annual income and outsourced tenant screening and collection services.
Target Audience
Ejari targets residential tenants in Saudi Arabia seeking flexible payment options and landlords looking for guaranteed annual rental income and streamlined property management.
Features
- Rent-now-pay-later service for residential properties in Saudi Arabia
- Tenant application and approval process
- Management of rental contracts and payment schedules
- Monthly payment options for tenants, converting annual rent into manageable installments
- Upfront payment of the full year's rent to landlords
- Tenant screening and collection services for landlords