(MENAFN- Khaleej Times)

Monthly rent payments are becoming a real option for residents, with industry leaders saying the shift from the long-standing cheque-based rental system could change how millions of people manage their housing costs.

Executives across the proptech sector say they are seeing strong demand from tenants who want to avoid large upfront cheques, while landlords are becoming more willing to accept digital, predictable monthly payments. The momentum has set off new products and partnerships aimed at modernising the rental process.

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The latest sign of change came last week, when Property Finder announced a partnership and investment in Keyper - a platform that allows tenants to pay rent in 12 monthly instalments. The system will be built directly into Property Finder's app and website, with a full launch expected in the first half of 2026. Residents will be able to make monthly payments via card or direct debit.

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Launched in 2023, Keyper lets tenants pay their annual rent in monthly instalments, charging a premium for the rent-now-pay-later service.

Speaking to Khaleej Times, Cherif Sleiman, chief revenue officer at Property Finder, clarified that the monthly payment option is an additional choice for tenants.“Traditional tenancy contracts and physical cheques will continue to be available for the foreseeable future, depending on market practice and personal consumer preference. Tenants who opt for monthly payments can manage their rent digitally, making it easier to plan their finances and budget their monthly expenses, while existing within the general rental framework.”

Will it cost more to pay monthly?

Not always - it depends on what the landlord originally expects, Sleiman said. He explained it this way:

• If the tenant is prepared to pay within the expectations of the landlord, then just because the tenancy and payment journey takes place online, there is no additional cost for the landlord or tenant.

• If a tenant wants to switch to 12 monthly instalments, the tenant pays a convenience fee.

• A landlord is only charged if they initially accepted multiple cheques but later decide they want the entire year's rent upfront.

He also confirmed that tenants will continue to get better rent deals when paying in fewer instalments.“In a digital rental journey, tenants will have comprehensive payment options, each with corresponding financial costs and benefits.”

How Keyper's model works

Rents in Dubai are typically paid in one to six post-dated cheques, often months in advance. Keyper's system offers an alternative by allowing tenants to spread payments across 12 instalments.

When the company launched, a spokesperson explained how pricing works using a simple example: for an apartment with Dh100,000 annual rent payable in four cheques,“Keyper would offer the tenant Dh105,000 in 12 credit card payments (Dh8,750 monthly), which equates to a 5 per cent premium to go from four to 12 payments.”

Keyper's system enables thousands of tenants to pay rent monthly, representing more than Dh2 billion in rental demand.

Demand for monthly rent payments explodes

Takeem, another platform offering monthly rent options, says demand for flexibility is accelerating across the UAE. Rakesh Mavath, co-founder and CEO of the platform, said in the seven months since launch, it has onboarded more than 50,000 rentals, representing over Dh5 billion in annual rent. A B2C version of the product is set to go live soon, which Mavath says will expand access to individual landlords and agents.

He describes the demand for monthly rent as immediate and widespread.“The demand is explosive because everyone wins. We've unlocked over Dh1 billion in new net revenue for landlords with lower defaults and faster occupancy. Property managers are seeing Dh180 million in pure uplift at zero extra effort or cost. Tenants get monthly payments without debt, lower upfront costs, and faster maintenance.”

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