DUBAI: Tenants across 22 residential communities in Dubai can now split their rental instalments into smaller payments under a new scheme aimed at easing the financial burden of paying large amounts upfront.

Dubai Residential, part of Dubai Holding Asset Management, announced on Tuesday a partnership with UAE-based fintech platform Rentify to introduce the flexible payment option across its residential portfolio, which is home to more than 146,000 residents.

The scheme will be available to eligible new tenants and existing residents renewing their leases, providing an alternative to the conventional rental payment structure.

Under the arrangement, tenants who currently pay their annual rent in four equal instalments will be able to divide their first instalment into smaller payments. New tenants can also access the service when signing their rental agreements.

For instance, a tenant paying an annual rent of Dh80,000 would typically make four payments of Dh20,000 each. Under the new scheme, eligible tenants could split the first Dh20,000 payment into smaller amounts, subject to Rentify’s terms and conditions.

The initiative is expected to help households manage their expenses more effectively by reducing the immediate financial pressure of large rental payments.

The service will be accessible through credit cards issued by select banks, with applicable rates and eligibility requirements. However, Dubai Residential has not yet disclosed the participating banks, the number of instalments permitted, repayment periods or the exact charges involved.

The scheme covers Dubai Residential’s 22 communities, including premium developments, family-friendly neighbourhoods and affordable housing options.

Among the communities included are Bluewaters, City Walk, Nad Al Sheba Villas, The Gardens, Garden View Villas, Remraam, Layan, Ghoroob and Shorooq.

While the payment option will be offered across the portfolio, access will remain subject to individual eligibility criteria.