Standard Residential Rental Contract (1-2)
Written by Hazim Al-Madani
Introduction
Written by Hazim Al-Madani
Introduction
The remarkable development in the concept of the maximum utilization of the electronic technology for the government services, the linkage to one of the safest government websites (Absher) and the release of all of its items to the public, along with benefiting from the
implementation courts, will certainly raise the desire and interest of the investors in the private sector to invest more in the residential rental sector, which did not enjoy such protection before.
What is meant by E-Rental Contracts?
The E-Rental Contracts mean the contracts concluded electronically through the Ministry of Housing’s private website.
Who are the parties in this contract?
The parties of the e-contract are the Property Owner, the Real Estate Broker, and the Real Estate Renter. Each of them has his private e-documentation method; for example, a Real Estate Broker must be a real estate office that holds a permit for practicing this activity and registered at the (Shomoos) System, which is an abbreviation for the National Tourism Information Network that is securely bound to the records and information systems of the Ministry of Interior; as it is the largest safe e-information system that combines the private and government sectors.
Through this Shomoos System, the Real scaped or left the rented property.
Estate Broker can generally exchange information between him and the government sectors related to both the Owner and the Renter.
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