How does the Rental Index Help You Find an Apartment That Fits Your Budget?

Blog

How does the Rental Index Help You Find an Apartment That Fits Your Budget?

December 24, 2024

Before deciding to rent a residential unit, you have to balance your needs with your financial capabilities. determine how much you can afford to pay in monthly rent, as well as understand the amenities included and the added value of residential units.

This is where the importance of the Rental Index tool comes into play. It is a service provided by the Ejar platform. allowing users to view the price range, average rental values, and the number of transactions based on the rental contracts documented in the Ejar network. The price range is based on estimating the upper and lower limits of the most frequently occurring commercial transaction values according to the type of unit.

This tool helps you explore the prices actually implemented in desirable neighborhoods. Additionally, having prior knowledge of real estate transactions gives you a chance to secure the best residential unit in your chosen area and helps you determine and even enhance your ability to purchase it in the case that you need financing solutions. Furthermore, knowing the actual prices protects you from falling into the trap of outrageous prices due to marketing offers from some real estate companies.

Therefore, before renting a property—whether it’s an apartment, villa, office, or shop

here are some tips to help you choose a residential unit that fits your budget by utilizing the Rental Index service:

1.Access the Rental Index Link

Visit the rental index link then enter the city, area, and neighborhood where you wish to live, invest, or work.

2.Search for the Time Period

Look for data from the beginning of the year to the current time to obtain accurate market information.

3.Browse Available Options

Residential: You will find options such as apartments, floors, and villas.
Commercial: You will find offices, shops, and showrooms.

4.Understand the Classifications

Classifications vary from one neighborhood to another based on the type of property you are looking for, giving you a comprehensive view of the available options.

5.Obtain the Average Price

The index will provide you with average prices, helping you make an informed decision.

Renting is an expense that we must handle wisely, which is why it is important to benefit from the Rize service which offers you the “Rent Now, Pay Later” option. Rize is the first Saudi digital platform that enables customers to rent their residential units with flexible, reasonable monthly payments and an easy, convenient payment method.