120,000 Lease contracts set to benefit from Direct Debit System and HappyTenant collaboration
The UAE’s first paperless direct debit marketplace, Direct Debit System has signed a partnership agreement with the country’s largest property management solution, HappyTenant, to help ease monthly budgeting for property renters across the Emirates. The collaboration will enable HappyTenant’s 120,000-plus tenants to pay their rent in 12 direct debit instalments, eliminating the financial burden and the handling inefficiencies of traditional post-dated cheques.
United in the shared vision to transform the tenant experience, the partners will embed the monthly payment system into the existing HappyTenant platform, which already offers over 100 features to deliver a complete end-to-end solution for property management. With a portfolio of prominent reals estate clients such as Savills and Allsopp & Allsopp, the new digital payment feature has the potential to streamline transactions and reduce operational fees for thousands of renters and landlords. The integrated process will see rent deducted from tenants’ bank accounts automatically each month, under pre-arranged terms.
The new collaboration is the latest in a series of partnerships established by Direct Debit System to support the uptake of digital payment solutions for recurring expenses. The firm’s founder and CEO, Ummair Butt, explained, “Our primary goal is to ease the budgeting burden for monthly salaried individuals and families in the UAE. By providing the option to pay for large expenses, such as rent and school fees, in monthly instalments, people can manage their finances better and stay out of debt. We also aim to support the UAE Government strategy to expand electronic payment infrastructure and promote paperless transactions wherever possible.”
Now present in 15 countries, HappyTenant was founded in the UAE in 2018 and quickly revolutionised the proptech market, winning the award for best breakthrough technology in the real estate business just one year after its establishment. HappyTenant has since evolved to deliver a powerful, one-stop platform for property managers, landlords, tenants, and maintenance and inspection providers. The new partnership with Direct Debit System builds on its reputation for pioneering innovative property management solutions through digitisation and automation.
HappyTenant CEO, Joe Moufarrej, remarked, “Our platform was established in response to the need to build a community of trust and transparency among stakeholders in the property management sector. Direct Debit is an important addition to this ecosystem as it provides landlords and tenants with the reassurance that rental payments are managed efficiently and effectively, while eliminating post-dated cheques and unnecessary credit card charges. We are delighted to partner with Direct Debit System to integrate this much-needed solution to simplify the rental payment process.”
As pioneers in the tech sector and disruptors in their respective fields, the partners are both looking to expand beyond the UAE borders, to take their technologies into the wider region. Butt concluded, “We see this as a long-term partnership, where we can grow together to deliver an integrated property management and payment platform to real estate markets across the GCC.”
Last Updated on 8 hours by News Desk 1
