Saudi Credit Bureau (SIMAH) will soon launch a new system allowing the finance sector to identify persons with bad rental history, an Arabic daily reported. The system will protect landlords from tenants who have a poor rental history and are considered a risk.
Tenants who pay their rent on time, will also find it easier to apply for a bank loan.The system will cover tenants of residential units, offices and stores.Landlords are being urged to sign up for the system so they can view the rental history of any potential tenant and they are also being encouraged to report any current tenants who have a history of not paying on time or of non-payment.Tenants with bad rental history can clean up their records after they pay all amounts in arrears. — SG
Source : saudigazette