This guarantee is held by the Ejar portal as a neutral third party.

Upon contract expiration or cancellation, a form for the return of the housing unit is issued after approval by both parties, and the remaining balances are automatically returned to each party's electronic wallet.

The text describes a new rental process aimed at monitoring and governing operations, protecting parties' rights, promoting transparency and trust, and documenting procedures electronically.

Damages to a residential unit can be deducted from the tenant's security deposit or resolved through agreement.

The deposit amount is paid during contract registration, and a notification is displayed for the tenant to make the payment.

The text outlines the process of securing a deposit, or guarantee amount, for a rental property using the Ejar platform.

Before contract approval, the tenant must ensure there is sufficient balance in their wallet for the guarantee amount.

Once both parties approve the contract and it's documented on the network, the reserved security amount is shown in the tenant's wallet.

If the contract isn't documented, the security amount is released back to the tenant.

The guarantee amount is defined as the security paid by the tenant to cover any damages to the property or utility.

If no amount is specified for the guarantee, it won't affect the contract documentation process.

However, if a guarantee amount is specified, it must be registered and kept with Ejar.

Starting January 15, 2024, all rent payments in Saudi Arabia must be processed through the Ejar platform for residential contracts.

The approved digital payment channels are Mada and SADAD using biller number 153.

Commercial rent contracts are not included in this requirement at the moment.