Yes, the Rize platform is an authorized platform from the Real Estate General Authority, with permit number: 2100000884.
Does Rize provide cash financing?
No, we do not provide cash financing. Rize pays the rent to the landlord and then re-rent the unit to the tenant through a sublease contract, with an annual contract and monthly payment.
What are the service fees for rent transfer and monthly payment?
Rize’s service fees start from 15% and are determined based on several factors, such as the applicant’s financial solvency and whether the payment to the landlord is a single payment or two payments.
What are the approval criteria for the application?
Saudi or a resident
The applicant must be employed
The monthly income must be 5,000 Saudi Riyals or more
The rent amount must be proportionate to the monthly income
Annual rental value 20000+ and more
My insurance subscription period has not reached 6 months. Will this affect my application?
You must complete at least 3 months.
What are the contracts used on the Rize platform?
All the contracts used are Ejar contracts, and therefore the executed contract is subject to the applicable regulations and laws of the standardized Ejar contract in accordance with the laws of the Kingdom of Saudi Arabia.
Can I terminate the contract?
Yes, the tenant can terminate the contract in certain cases according to the terms specified in the contract.
Are there any additional fees when renewing the contract?
The fees required when renewing the contract vary and depend on the company’s policy.
What additional services can be availed?
The tenant can avail additional services such as periodic cleaning and maintenance under an additional agreement.
Can I modify the contract details?
Yes, the tenant and the landlord can agree to amend some details of the contract with the consent of both parties.
