FAQs
Rentic is a Saudi real estate technology company that offers a service for leasing with monthly installments instead of paying a full amount every six months or annually. Rentic leases the desired residential unit on behalf of the client and then re-leases it to the client with a monthly payment plan, including leasing fees.
The profit rate depends on various factors, such as the client’s monthly credit obligations and the outcome of the applicant’s credit assessment.
You can apply by clicking the “Apply Now” button on the homepage or through the following link: https://gorentic.com/apply-now/
You are required to submit your General Organization for Social Insurance (GOSI) certificate to verify your income.
By requesting property owners to register the contract in the name of Rentic and adding our commercial registration number, confirming the availability of sublease option, enabling us to re-lease the unit to you.
The process takes no more than 24 hours.
We are happy to serve however long contract you’ll need as long as it covers the below points:
a) The contract is 6 months minimum
b) The property owner agrees to that contract length
Of course, you have the right to choose according to the date that suits you! From the first day to the last day of the month.
With Rentic, everyone is eligible for the service.
We serve you in all regions of the Kingdom of Saudi Arabia.
You can, but only after settling the outstanding payments for the remaining months of rent that have not been paid.
Currently, we only provide our services for residential units.
Yes, because Rentic is the one who will lease the unit from the owner and then re-lease it to the client.
No, because Rentic’s services do not fall under the monthly commitment for the Sama program.
Yes, Rentic service is authorized by the fatwas (legal opinions) of the Permanent Committee for Scholarly Research and Ifta in the General Presidency of Scholarly Research and Ifta in Saudi Arabia.
Yes, licensed by the General Authority for Real Estate.
If the tenant is delayed in payment for 14 days, a court order will be issued from the execution court to take the necessary legal actions.
We are delighted to have you contact us via the following email (info@gorentic.com) or by reaching out to us through our various social media accounts.
After finalizing the contract between Rentic and the property owner, we proceed to create a new lease agreement between Rentic and the original tenant of the residential unit. Once the contract is formalized, the tenant pays the first rent installment and completes all requirements (commission, office fees, insurance). At that point, the tenant can move into the residential unit.